📈 Stocks Open Lower - Longest Losing Streak In 3 Months?
Another day of losses? NASDAQ on pace for its worst monthly performance since September 2020. - Here's what is happening in the markets today, Thursday, May 20th.
Another day of losses? NASDAQ on pace for its worst monthly performance since September 2020.
Here's what is happening in the markets today, Thursday, May 20th.
Shares linked to cryptocurrencies like including Tesla (TSLA), Coinbase (COIN) and MicroStrategy (MSTR) had a rough day but they are bouncing back today.
Yesterday, the Fed Meeting Minutes were released, and hinted at the possibility of tapering with QE in upcoming FOMC meetings: "A number of participants suggested that if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases."
Today’s Earnings:
Kohl's (KSS) reported better than expected earnings and raised the outlook for the remainder of the year, but it’s still trading lower.
Petco (WOOF) – Petco gained 1% in premarket action, after reporting quarterly earnings that were double as much as expected.. The pet products retailer’s revenue also beat Wall Street forecasts, and it raised its full-year outlook.
Shoe Carnival (SCVL) – Shoe Carnival shares slid 7.2% in premarket trading after the footwear retailer predicted a drop in current-quarter sales compared to a year ago.
Cisco (CSCO) beat revenue and profit expectations but issued weaker than expected guidance.
Late today: Ralph Lauren (RL), Ross Stores (ROST)
In other news, Virgin Galactic (SPCE) jumped nearly 24% in Thursday’s premarket after the space tourism firm said it’s targeting Saturday for its next spaceflight test. Virgin Galactic is aiming to begin commercial service in 2022.
The latest weekly jobless claims numbers will also be released, providing an insight into the labor market recovery. New claims for unemployment benefits are forecast at 450,000 for the week ending May 15, continuing a steady decline from the 473,000 figure seen in the prior week.
Ford (F) showed off its new electric F-150 Lightning model during a live event last night. Pricing for the vehicle will range from about $39,974 for a work truck version to $52,974 for a consumer version that runs all the way up to $90K for the fully-loaded model. Tax credits can also be applied to the EV purchase.
Specs: The F-150 Lightning will be able to travel up to 300 miles per battery charge and race from zero to 60 mph in 4.5 seconds.
Chicken Wars: Burger King is storming into the market with a new Ch'King item to be added to the menu in June. Popeyes started the rage back in August 2019, with a blockbuster chicken sandwich that sold out in two weeks. The popularity of the sandwich resulted in double-digit sales growth for Popeyes quarter after quarter, while similar successes were attempted at McDonald's (MCD), KFC (YUM) and Wendy's (WEN).
This wraps up today's stock market news.
If you enjoyed the "Stock Market Today" video, make sure to subscribe to this channel.
And for more stock market news, visit https://rockwelltrading.com.
#todaysstockmarket #stockmarkettoday #stockmarket
Here's what is happening in the markets today, Thursday, May 20th.
Shares linked to cryptocurrencies like including Tesla (TSLA), Coinbase (COIN) and MicroStrategy (MSTR) had a rough day but they are bouncing back today.
Yesterday, the Fed Meeting Minutes were released, and hinted at the possibility of tapering with QE in upcoming FOMC meetings: "A number of participants suggested that if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases."
Today’s Earnings:
Kohl's (KSS) reported better than expected earnings and raised the outlook for the remainder of the year, but it’s still trading lower.
Petco (WOOF) – Petco gained 1% in premarket action, after reporting quarterly earnings that were double as much as expected.. The pet products retailer’s revenue also beat Wall Street forecasts, and it raised its full-year outlook.
Shoe Carnival (SCVL) – Shoe Carnival shares slid 7.2% in premarket trading after the footwear retailer predicted a drop in current-quarter sales compared to a year ago.
Cisco (CSCO) beat revenue and profit expectations but issued weaker than expected guidance.
Late today: Ralph Lauren (RL), Ross Stores (ROST)
In other news, Virgin Galactic (SPCE) jumped nearly 24% in Thursday’s premarket after the space tourism firm said it’s targeting Saturday for its next spaceflight test. Virgin Galactic is aiming to begin commercial service in 2022.
The latest weekly jobless claims numbers will also be released, providing an insight into the labor market recovery. New claims for unemployment benefits are forecast at 450,000 for the week ending May 15, continuing a steady decline from the 473,000 figure seen in the prior week.
Ford (F) showed off its new electric F-150 Lightning model during a live event last night. Pricing for the vehicle will range from about $39,974 for a work truck version to $52,974 for a consumer version that runs all the way up to $90K for the fully-loaded model. Tax credits can also be applied to the EV purchase.
Specs: The F-150 Lightning will be able to travel up to 300 miles per battery charge and race from zero to 60 mph in 4.5 seconds.
Chicken Wars: Burger King is storming into the market with a new Ch'King item to be added to the menu in June. Popeyes started the rage back in August 2019, with a blockbuster chicken sandwich that sold out in two weeks. The popularity of the sandwich resulted in double-digit sales growth for Popeyes quarter after quarter, while similar successes were attempted at McDonald's (MCD), KFC (YUM) and Wendy's (WEN).
This wraps up today's stock market news.
If you enjoyed the "Stock Market Today" video, make sure to subscribe to this channel.
And for more stock market news, visit https://rockwelltrading.com.
#todaysstockmarket #stockmarkettoday #stockmarket