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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...
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 December 2020...
Continue reading >>The stock market traded in a tight range on Monday before making a strong move higher in the final hour as investors await further updates from the Federal Reserve’s policy meeting this week. Additionally, Treasury Secretary Janet Yellen said the Biden administration hasn’t decided whether to pursue a wealth tax, but will likely issue proposals to address the swelling federal budget...
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Continue reading >>The stock market traded in a tight range for much of Tuesday’s session before closing lower as traders await upcoming comments from Fed Chairman Powell and Friday’s jobs report. Losses in the Technology and Consumer Discretionary sectors weighed on sentiment with Zoom Video Communications (ZM) falling 9% despite reporting earnings that topped Wall Street’s expectations.The Russell 2000...
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