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- 🟢 The Stocks And Sectors That Held Up Through Yesterday's Bloodbath
🟢 The Stocks And Sectors That Held Up Through Yesterday's Bloodbath
The bears came out to play yesterday, Costco may follow Walmart's lead by doing this and more
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Happy Thursday Zingernation! Sometimes the market has a theme song. And for most of the year, it’s been ‘Let The Good Times Roll’ by the Cars. But now I’m starting to think it’s Katy Perry’s hit ‘Hot n Cold’. And I can endure an off-and-on relationship, but not whatever the heck happened to my portfolio yesterday. Today we’re talking about why the market had its worst day of the year and a potential catalyst that could drive Costco’s stock higher anyway.
—Aaron Bry & Nic Chahine
Plus, check out the company that’s reshaping air travel, and could help simplify logistics for major artists like Taylor Swift.
MARKET SNAPSHOT
Yesterday: Do we really have to talk about yesterday? Markets had their worst day of the year, getting absolutely clobbered following Tesla and Google’s disappointing earnings reports.
On Our Radar: A much-needed break from big-tech earnings today, but we will hear from Southwest and American Airlines this morning. Then, after the bell, Skechers, Deckers, Boston Beer Co and more will report.
TOP STORY
Basically: There are some days to check your portfolio, and others to pretend like the stock market doesn’t exist. Yesterday falls in the latter, with virtually every index closing in the red.
What Happened: Here were the biggest losers on the day, and the industries that actually held up despite the bloodbath.
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FIVE ZINGERS
Christmas In July: Bitcoin, Ethereum and other cryptos took a nosedive over night. Are we going to get a ‘Crypto Winter’ during the summer?
Breathe In, Breathe Out: $LULU investors may need to do some extra-calming yoga after some bearish analyst coverage and a 50% drawdown.
Just Plane Ugly: American Airlines and Southwest are each trading lower following their respective reports. Here’s what’s going on with the industry.
Ford Gets An $F: Ford failed its earnings-report test this morning, shedding light on losses related to its EV investments, sending other names lower.
Is Now The Time?: Most experts have the Fed cutting rates in September, but one expert is arguing that it should act sooner. Here’s why.
ONE FOR THE ROAD
Basically: Death, taxes and the $1.50 hot dog and soda combo at Costco. We know that’s not going anywhere, but the company does have a potential lever it can pull that should increase its stock price.
So: With share prices higher than $800 and a relatively expensive valuation (51.5 p/e ratio) some experts believe Costco may follow Walmart’s lead to increase investor interest.
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