TheStreet Live

Nick Colas, chief market strategist at Convergex has some advice to investors nervous about the U.S. airstrikes in Syria.

Dow futures dropped more than 100 points immediately after news of the U.S. military strikes on Syria but had recovered much of those losses in the morning. Some of the biggest moves are in commodities. Oil prices shot higher. Syria is not a major oil exporter but is close with Russia and Iran, who are. Gold is also sharply higher as investors seek a safe haven. The military strikes took place as President Donald Trump is meeting with China's President Xi Jin Ping. They will meet again today where trade and North Korea are expected to be topics of discussion. It's also monthly jobs report day. The Labor Department is expected to show a gain of more than 200,000 jobs in March and for the jobless rate to hold steady at 4.7%. Goldman Sachs, however, says weather could have prevented 60,000 jobs being added last month.

Wall Street came off of the day's highs late in the session on worries over how President Trump will handle the Syrian civil war and relations with China. The Trump administration has changed its tune, signaling possible military action against the Assad regime. Bed, Bath & Beyond rose after topping analysts' estimates in its recent quarter. The homewares retailer reported a 3% increase in sales, while comparable-store sales edged 0.4% higher. SeaWorld was initiated with a SELL rating and $16 price target at Goldman Sachs. Analysts are skeptical that cost-cutting measures will translate to growth. L Brands surged even after reporting a steep decline in March sales. Comparable sales for the five weeks to April 1 dropped 10%.

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Crude oil gains helped the energy sector lead markets with modest gains. However, trading appeared cautious ahead of a possibly contentious meeting between Donald Trump and China's President Xi over the next two days. Yum! China surged on first-quarter earnings and sales that were better than anticipated. The owner of KFC and Pizza Hut in the region reported a 1% increase in same-store sales over the three-month period. Costco rose after reporting strong sales figures for March. The warehouse retailer saw a 9% increase in March revenue in the U.S., while same-store sales increased 7%. Advanced Micro Devices slumped after Goldman Sachs initiated coverage with a SELL rating and $11 price target. The firm said current valuations make its stock price difficult to justify.

JAB Holdings is buying Panera Bread Company for $7.5 billion dollars. JAB is the parent company of Caribou coffee and Peet's Coffee and Tea. JAB is paying $315 a share for the restaurant chain, which is a 20% premium to Tuesday's closing price. The United States Senate is plunging toward a historic rule change regarding the vote for Neal Gorsuch for Supreme Court. Senators debated for hours, sometimes bitterly, in support and opposition to Gorsuch. Senate Democrats are expected to filibuster the nomination and Senate Republicans are expected to invoke what's called a 'nuclear option' to get Gorsuch's appointment to the Supreme Court approved. Overnight, North Korea fired a ballistic missile, according to officials. The move takes place on the eve of China's President Xi meeting with U.S. President Trump.

The Dow Jones Industrial Average outpaced broader markets on Tuesday in an unsettled day of trading. Losses in the consumer space extended into day two. The sector had sold off on Monday after disappointing monthly auto sales from Ford and General Motors . Richmond Federal Reserve President Jeffrey Lacker tendered his resignation Tuesday after improperly sharing information with an analyst back in 2012. Lacker broke confidentiality rules when he offered information to Medley Global Advisors regarding the Fed's September meeting in 2012. Amazon ended at another record after a bullish note from BMO Capital Markets. Analyst Daniel Salmon raised his price target to $1,200 and backed his outperform rating, noting that Amazon could benefit from the "significant emerging opportunity" in advertising. Salmon expects Amazon ad revenue to rise 65% to $3.5 billion this year. U.S. handbag maker Kate Spade slumped 15% on reports it will spend a few more weeks negotiating a potential sale of the company after receiving an offer last week from Coach .

Companies interested in working on President Trump's promised wall along the United States-Mexico border must turn in their bids today. Roughly 20 companies will be chosen by the Federal Government to build the wall, which is estimated to cost $20 billion. Verizon )has announced its new name for the combined Yahoo! and AOL. It's called Oath. The New York Times says it's getting mixed reactions from customers and those in the media industry. The brand will apply to the digital media division of Verizon after it buys Yahoo's internet assets for $4.48 billion. The Verizon takeover of Yahoo is expected to close by the end of June. The North Carolina Tar Heels won the NCAA Men's Championship game last night. it was the 3rd championship for coach Roy Williams and the 6th for the Tar Heels. The final score was North Carolina 71 to Gonzaga's 65.

Wall Street kicked off the second quarter with losses as financials continued to decline from a record rally earlier in the year. Stocks had started the day in the green with the Nasdaq even reaching a new all-time intraday high. Panera Bread surged on reports the bakery chain is mulling over its strategic options, which include a possible sale. Bloomberg reports that Panera is working with its advisers to determine the best route. Casino operator Wynn Resorts moved higher after March figures for gambling revenue in Macau showed a larger increase than anticipated. Gambling revenue in the region has increased for eight straight months. Tesla has surpassed Ford as the second-largest car company in the U.S. Tesla's market cap neared $48 billion after the automaker reported a record number of deliveries in the first quarter.

Wall Street suffered modest losses to begin the second quarter after disappointing auto sales for March and as manufacturing activity expanded at a slower pace. Cyclical consumer goods, financials and utilities stocks were the worst performers. Economic activity in the manufacturing sector slowed in March, though remained in expansion territory, according to the ISM Manufacturing Index. New orders, production and employment rose, while inventories contracted. Construction spending rebounded in February as warmer weather encouraged activity. However, the measure did not meet expectations for the month. Under Armour was slightly lower after FBR Capital downgraded its rating to UNDERPERFORM from MARKET PERFORM. The firm based the downgrade on recent channel checks and fiercer competition.