Gainers & Losers
This week retail stocks slumped after almost all of them reporting weakened first quarter earnings. JC Penny(NYSE:JCP) , Macy’s(NYSE:M) , and Sears Holdings(NASDAQ:SHLD) declined the most, losing 17% ,19% , and 12% respectively. Sears in particular has had to begin liquidating its periphery brands to continue operating its stores and has produced reported losses of 2.2 billion dollars. They have produced a consistent decline in profits as a result of the cheaper prices on Amazon(NASDAQ:AMZN) and consumers’ choosing lower costs over customer service.
(Source: Instagram/Abandoned Malls)
On another note, technology stocks have flourished with technology giant, Apple(NASDAQ:AAPL) gaining over 5% in the last 5 days and Amazon(NASDAQ:AMZN) gaining just over 2.5%. The software and IT services sector grew by approximately .17% on Friday with the technology industry possessing a generally bullish demeanor and 2.78% in growth in the last month. In fact, Standard and Poor has given the United States a AAA credit rating. Furthermore, Bitcoin’s value grew by 13.3% on account of the volatility and bullishness of the US Markets.
The healthcare insurance industry is up 2.54% this month on account of the Republican’s new healthcare bill and the ramifications it has for the healthcare industry. The conservative fiscal policy has arguably been a leading factor in why the markets have grown substantially in the last three months. However, some are apprehensive about the growth. Erin Botsford, founder and chief executive officer of Botsford Financial Group in Dallas, told The Wall Street Journal.
We anticipate volatility, and think the bull market is getting long in the tooth. Donald Trump’s policies are pro-growth, but we are concerned about the unintended consequences of some of the words that he has said.
Botsford Financial Group
This view is widespread throughout the financial marketplace and indicative of the fact that although US markets have begun to cap, they still haven’t reached their full potential. Background: The US generally moves from the troughs, to developing, to euphoria, to crashing.
What To Look For Next Week
Computer Modelling Group(CMG)
3 and 6 Mon Bill Auction
EIA Petroleum Report
Weekly Jobless Claims
James Bullard Speaks
All of these are indicators of how the US economy will perform as well as major indeces such as the S&P 500 and the NASDAQ.
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