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Continue reading >>The stock market closed lower on Thursday as another spike in Treasury yields and a weaker-than-expected jobs report weighed on sentiment. Specifically, the 10-year Treasury yield rose to a 14-month peak of 1.74% while initial jobless claims jumped to 770,000 versus forecasts for a print of 700,000. Despite the disappointment and higher yields, the blue-chips managed to set a fresh intraday...
Continue reading >>Nike fell after the bell Thursday following a mixed quarter. Earnings of 90 cents a share for its February-ended quarter beat expectations, but port congestion in the U.S. squeezed inventories and pressured sales. The company emerged as an e-commerce powerhouse during the pandemic. Nike reported a 59% increase in digital sales in its recent quarter, down from 84% growth a quarter...
Continue reading >>The stock market closed lower on Thursday as another spike in Treasury yields and a weaker-than-expected jobs report weighed on sentiment. Specifically, the 10-year Treasury yield rose to a 14-month peak of 1.74% while initial jobless claims jumped to 770,000 versus forecasts for a print of 700,000.Despite the disappointment and higher yields, the blue-chips managed to set a fresh intraday...
Continue reading >>Keep an eye on Electronic Arts (EA). The stock has become exceptionally oversold after pulling back from $150 to $127.50. From here, we’d like to see it challenge its prior highs, especially with the video game market expected to grow even more this year. Video game spending in the U.S. totaled $56.9 billion for 2020. That was 27% higher year over year, according to NPD. In...
Continue reading >>The stock market closed mostly lower on Tuesday following a disappointing report on retail sales and the start of the Federal Reserve’s two-day policy meeting. Specifically, retail sales fell 3% in February, and declined 2.7% excluding autos, which were bigger drops than expected. Tech showed continued strength after notching a small gain while the small-caps were the leading laggard despite...
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