Stocks traded near the flatline yesterday as traders look for catalysts that will move markets.
Shares of the pharmacy Walgreens Boots Alliance were on track for their lowest close since 2014 after the company reported fiscal second-quarter earnings that missed expectations and slashed its full-year outlook. Shares dropped 12% yesterday on the news. The company CEO called the quarter “the most difficult quarter we have had since the formation of Walgreens Boots Alliance.
Shares of Delta Air Lines shot higher, to a 3 1/2-month high, and pulled all of the major airlines stocks higher after the air carrier raised its first-quarter guidance and announced an extension of its credit card pact with American Express.
A key House committee passes the Secure Act, a bill intended to increase the flexibility of 401(k) plans and improve access to the accounts, particularly for small businesses and their employees. The bill includes a host of provisions aimed at encouraging small businesses to provide private retirement benefits to their workers. The bill is one of the few proposals with a significant chance of becoming law amid a bitterly divided Congress.