Senior market strategist from LPL Financial Ryan Detrick discusses growth versus value and its investment tips.
The US stock markets changed little on Thursday morning as traders weighed on the continued improvement of the US economy and a sharp rise in bond yields.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| Ek: DJI | DOW JONES AVERAGE | 31779.89 | -181.97 | -0.57% |
| SP500 | S&P 500 | 3891.88 | -33.55 | -0.85% |
| I: COMP | NASDAQ COMPOSITION INDEX | 13432.670813 | -165.30 | -1.22% |
The Dow Jones industrial average rose 31 points, or 0.1%, while the S&P 500 and Nasdaq Composite were down 0.32% and 0.61%, respectively. Any gains for the Dow will contribute to Wednesday’s record, just below the 32,000 level.
Orders for durable goods, excluding transportation, rose 1.1% month-on-month in January, more than the 0.7% growth expected by analysts interviewed by Reinfitiv, and initial unemployment claims fell last week to 730 000, compared to a downward revised 841 000 the previous week.
WEEKLY UNEMPLOYED DEMAND DALP BUT REMAINS RAISED
Meanwhile, a second estimate of gross domestic product in the fourth quarter showed that the US economy expanded at a solid pace of 4.1%, compared to the initial pressure of 4%.
PRAYER, PELOSI, SCHUMER PRESS $ 1.9 T STIMULUS AS DEBT, SHORT BALLOON TO EYE POPPING AMOUNT
Signs of an improving economy helped increase the ten-year yield by more than 8 basis points to above 1.46%, the highest level in a year.
That while the House of Representatives is ready for a vote, possibly Friday, on President Biden’s $ 1.9 billion COVID-19 aid package.
WHY GAMESTOP SHARES HAD 104% ON WEDNESDAY
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| GME | GAMESTOP | 132.53 | +40.83 | + 44.53% |
In shares, the shares of GameStop Corp. rose after it doubled on Wednesday following news that Jim Bell, chief financial officer, was forced by Ryan Cohen, the founder of Chewy, the online pet food supplier, whose venture capital firm has amassed a nearly 10% stake. The New York Stock Exchange stopped trading shortly after the announcement due to volatility.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 9.93 | +0.82 | + 9.00% |
| BBBY | BED BATH & BEYOND INC. | 27.47 | +0.09 | + 0.33% |
| KOSS | KOSS | 30.05 | + 111.61 | + 62.96% |
Other shares that have come under pressure recently include Bed Bath & Beyond Inc., AMC Entertainment Holdings Inc. and Koss Corp. also traded sharply.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| TSLA | TESLA INC. | 717.59 | -24.43 | -3.29% |
Elsewhere, Tesla Inc. workers announced he would temporarily halt production of his Model 3 sedan in his Freemont, California, Bloomberg reported, citing anyone familiar with the matter.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| BBY | BEST BUY | 105.89 | -7.35 | -6.49% |
In earnings, Best Buy Co reported mixed quarterly results, warning that comparable sales could drop to as much as 2% in the current financial year as demand for pandemic-induced levels declines.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| BUD | ANHEUSER-BUSCH INCLUDED | 60.98 | -4.20 | -6.44% |
Anheuser-Busch InBev generated better-than-expected revenue and revenue, but margins were put under pressure as the company used more expensive disposable cans, while consumption at home increased during the pandemic.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| DOM | after | after | after | after |
Domino’s Pizza missed earnings and revenue as growth in the same store slowed to 11.2% from 17.5% in the previous quarter. The pizza chain plans global growth in retail sales of 6% to 10% over the next two to three years.
In commodities, West Texas Intermediate crude slipped 35 cents to $ 62.87 a barrel while gold fell $ 18.60 to $ 1,779.30 an ounce.
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European markets traded mixed with the British FTSE 100 with 0.31%, the French CAC 40 with 0.11% and the German DAX 30 with 0.1%.
In Asia, the Chinese Shanghai index of Shanghai rose by 0.59%, the Hang Seng index of Hong Kong by 1.2% and the Nikkei 225 of Japan by 1.67%.