Traffic updates: Check our map for the fastest route

Wall Street hangover; Yellen to speak; Nintendo Switch

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

LONDON– 1. The hangover: It was fun while it lasted but investors are now dealing with a post-rally hangover.

European and Asian markets were trading in negative territory on Friday and U.S. stock futures were pointing to a weak open.

It’s a sharp change in mood for U.S. stocks, which rallied to hit record highs earlier this week after President Trump delivered a well-received address to Congress.

Investors have pushed stocks higher in recent months because of optimism over Trump’s plans to cut regulations and slash taxes.

2. Fed focus: When the head of the U.S. Federal Reserve speaks, investors listen.

Fed chair Janet Yellen is set to give a speech at 1:00 p.m. ET in Chicago, Illinois, to discuss her outlook for the U.S. economy.

Fed vice chairman Stanley Fischer is also giving a speech on Friday about monetary policy in New York. It’s due to start at 12:30 p.m.

3. Stocks to watch — Costco, WPP, Nintendo: Shares in Costco dropped in extended trading after the retailer issued a disappointing earnings report.

WPP stock was lower by about 6% in London after the advertising conglomerate reported earnings.

Investors balked at the “nasty combo” of disappointing forecasts for 2017 and a slowdown in the final quarter of 2016, according to Mike van Dulken of Accendo Markets.

But let’s switch to something a bit more upbeat: Nintendo Switch!

Shares in Nintendo jumped by 3.7% in Tokyo after the company released its newest console, which is retailing for $300 in the U.S.

4. Coming this week:

Friday – Fed chair Yellen speaks at 1 p.m., Nintendo Switch releases worldwide

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.