Given the timing of Amazon’s (AMZN) 2022 Prime Day and competing efforts from other retailers, non-store e-commerce sales should post a hefty jump YoY, while the decline in the national average gas prices could drive MoM declines in gas station retail sales for July.
Archiv für den Monat: August 2022
Stocks making the biggest moves premarket: Lowe’s, Target, TJX and more
These are the stocks posting the largest moves before the bell.
A high-profile meeting in China may have tipped off which provinces will have highest growth
Chinese Premier Li Keqiang has called on six provinces to take the lead in supporting the country’s growth after July data showed a slowdown across the board.
Stocks making the biggest moves midday: Walmart, Bed Bath & Beyond, Zoom, Ally and more
These are the stocks posting the largest moves in midday trading.
3 takeaways from the Investing Club’s ‘Morning Meeting’ on Tuesday
The Investing Club hosts its „Morning Meeting“ every weekday at 10:20 a.m. ET.
Bed Bath & Beyond soars as much as 70% as meme traders talk up Ryan Cohen’s call options purchase
Bed Bath & Beyond jumped as meme stock traders piled in, encouraged by GameStop Chairman Ryan Cohen placing another bet on the struggling retailer.
Target’s earnings take a huge hit as retailer sells off unwanted inventory
The big-box retailer cut its profit outlook in June, saying it would take a hit as it marked down unwanted goods and canceled merchandise orders.
Lowe’s reports mixed second-quarter results, citing shortened spring that hurt sales
Lowe’s said improved operations offset lower-than-expected sales that were hurt by a shortened spring.
Tencent, the $370 billion Chinese tech giant, posts first ever revenue decline
Tencent posted its first ever quarterly year-on-year revenue decline as stricter regulations around gaming in China and a resurgence of Covid hit the tech giant.
ForexLive European FX news wrap: UK inflation hits 40-year high
<p>Headlines:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/uk-july-cpi-101-vs-98-yy-expected-20220817/“>UK July CPI +10.1% vs +9.8% y/y expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/sterling-does-the-rise-and-fall-as-uk-inflation-hits-40-year-high-20220817/“>Sterling does the rise and fall as UK inflation hits 40-year high</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/the-surge-in-uk-yields-is-rippling-across-global-bonds-20220817/“>The surge in UK yields is rippling across global bonds</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/kiwi-fails-to-find-comfort-from-hawkish-rbnz-20220817/“>Kiwi fails to find comfort from hawkish RBNZ</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/eurozone-q2-gdp-second-estimate-06-vs-07-qq-prelim-20220817/“>Eurozone Q2 GDP second estimate +0.6% vs +0.7% q/q prelim</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-mba-mortgage-applications-we-12-august-23-vs-02-prior-20220817/“>US MBA mortgage applications w.e. 12 August -2.3% vs +0.2% prior</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/musk-clarifies-tweet-about-man-utd-bid-says-he-is-not-buying-any-sports-teams-20220817/“>Musk clarifies tweet about Man Utd bid, says he is not buying any sports teams</a></li></ul><p>Markets:</p><ul><li>USD leads, AUD lags on the day</li><li>European equities lower; S&P 500 futures down 0.9%</li><li>US 10-year yields up 6 bps to 2.885%</li><li>Gold down 0.4% to $1,768.73</li><li>WTI crude down 0.2% to $86.33</li><li>Bitcoin down 0.9% to $23,754</li></ul><p style=““ class=“text-align-justify“>The day began with some shenanigans involving Elon Musk as he joked about buying Manchester United. It was some entertainment to kick start proceedings before markets quickly focused on the double-digit UK inflation print, the highest in 40 years.</p><p style=““ class=“text-align-justify“>The pound got a knee-jerk push higher only to fall back almost immediately, as traders reassess the dire outlook to the UK consumer. GBP/USD moved up from 1.2110 to 1.2140 before falling back now to fresh lows of 1.2060 as the dollar is seen firming across the board.</p><p style=““ class=“text-align-justify“>The UK inflation data kicked off a heavy round of selling in the bond market with UK yields surging and that spilled over to Europe and the US as well. 10-year Treasury yields are now knocking on the door of its 100-day moving average near 2.89% and that is underpinning USD/JPY to move up just above 135.00 on the day.</p><p style=““ class=“text-align-justify“>Higher yields seems to also be taking a toll on equities with US futures marked lower, after also having seen the S&P 500 test its 200-day moving average in trading yesterday. S&P 500 futures are down 0.9% and that is reflecting a more risk-off mood where the dollar is gaining all across the board.</p><p style=““ class=“text-align-justify“>USD/CAD is back up by 0.5% to above 1.2900 while AUD/USD is down over 1.3% to 0.6930 and NZD/USD down 0.9% to 0.6285, with the kiwi failing to even find any comfort from a more hawkish RBNZ earlier in the day.</p><p style=““ class=“text-align-justify“>It is now over to US retail sales and the FOMC meeting minutes to decide the next steps on the day.</p>
This article was written by Justin Low at www.forexlive.com.