Jobs, Jobs, and More Jobs
By Fri, Feb 7, 2020
Hey Scoopers,
Positive news about the lower number of jobless claims and higher private-sector hiring pushed the stock market up for one more day â more on that in the “Overall Market” section.
Beyond the overall market, one video game company wowed investors with better than expected performance, while another video game maker disappointed them on the same day â more on that in the “What’s Up?” and “What’s Down?” sections.
Oh, and by the way, don’t forget to keep an eye on the space industry â more on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:Market Recap
- U.S. markets: All three indices finished Thursday higher than where they started the day. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price is approaching the $10,000 mark. It looks like the price movement in recent days is caused by the so-called Bitcoin whales who have suddenly poured money into the market. Make no mistakes, this is just supply and demand law pushing the price higher and higher until it doesn’t.
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The U.S. economy keeps humming.
JTNDaW1nJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZtZWRpYS5naXBoeS5jb20lMkZtZWRpYSUyRjNVTkxiNGFid0I5M0clMkZnaXBoeS5naWYlMjIlM0U=Favorable quarterly earnings took over the not-so-favorable ones, and the stock market finished Thursday in the green, again. It also didn’t hurt to see that the last week’s weekly jobless claims were at the lowest level in 50 years. The number of unemployment claims is a quick way to measure how many people have lost their job during that time period, and it looks like the claims are at some of the lowest levels of the last half a century. Moreover, the ADP’s national employment report showed that the private sector employment was on the rise in January.
The U.S. economy keeps humming, and unemployment has declined steadily in the last decade. That’s one of the key reasons the stock market keeps on soaring.
The winner video game maker of the day …
So, what happened?
Shares of Activision Blizzard (Ticker: ATVI) were up approximately 5% on Thursday. The company is the video game maker and publisher behind massively successful gaming franchises such as Call of Duty. It didn’t have a particularly good 2019. However, the holiday season’s performance was better than what analysts expected, and that was enough for the company’s stock price to soar on the day it announced its latest quarterly earnings. Among a few reasons, the company’s success in launching the mobile version of its successful PC or console games led to the latest quarter’s success.
It seems that the holiday season was good for gaming. Don’t rush into that conclusion yet. Scroll to the “What’s Down?” section, first.JTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3aWRnZXQuc3RvY2tjYXJkLmlvJTJGanMlMkZzYy13aWRnZXQuanMlMjIlMjB0eXBlJTNEJTIydGV4dCUyRmphdmFzY3JpcHQlMjIlM0UlM0MlMkZzY3JpcHQlM0UlM0NkaXYlMjBjbGFzcyUzRCUyMnNjLXdpZGdldC1jb250YWluZXIlMjBzY19sYXJnZSUyMiUyMGRhdGEtdGlja2VyJTNEJTIyQVRWSSUyMiUyMGRhdGEtdG9rZW4lM0QlMjJUTmNwcks3TjcxWGltUGpDSnFickQyNVhnV3YyJTIyJTNFJTNDJTJGZGl2JTNF
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The loser video game maker of the day…
So, what happened?
Shares of Take-Two Interactive (Ticker: TTWO) were down approximately 4% on Thursday. Just like Activision Blizzard, the company is a maker and publisher of successful video game franchises such as Red Dead Redemption and Grand Theft Auto. However, unlike its rival, TTWO didn’t manage to wow investors with its latest quarterly earnings report. The lower than expected revenue growth wasn’t much about the company lagging behind. Rather, the slower growth was due to how successful the company was the prior year, which made 2019’s growth rate appear to be smaller.
Now, go ahead and conclude that the holiday season was a success for video game companies. As we discussed above, even the decline in TTWO wasn’t because of its lackluster performance.JTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3aWRnZXQuc3RvY2tjYXJkLmlvJTJGanMlMkZzYy13aWRnZXQuanMlMjIlMjB0eXBlJTNEJTIydGV4dCUyRmphdmFzY3JpcHQlMjIlM0UlM0MlMkZzY3JpcHQlM0UlM0NkaXYlMjBjbGFzcyUzRCUyMnNjLXdpZGdldC1jb250YWluZXIlMjBzY19sYXJnZSUyMiUyMGRhdGEtdGlja2VyJTNEJTIyVFRXTyUyMiUyMGRhdGEtdG9rZW4lM0QlMjJUTmNwcks3TjcxWGltUGpDSnFickQyNVhnV3YyJTIyJTNFJTNDJTJGZGl2JTNF
Keep an eye on the space industry.
JTNDaW1nJTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZtZWRpYS5naXBoeS5jb20lMkZtZWRpYSUyRjNvNlp0YzRqT1lhMjRXRGhxOCUyRmdpcGh5LmdpZiUyMiUzRQ==So what happened?
A few months ago we told you about the space industry and how the IPO of Virgin Galactic (Ticker: SPCE) opens the door to a new industry to watch. Now, we have another reason to do so. Elon Musk’s space-focused company, called SpaceX, is spinning off its space-internet business Starlink. This division of the Elon’s empire delivers internet services to customers from space starting form this summer.
So what?
First of all, it’s astonishing to see how Elon Musk never stops dazzling the news with exciting progress across his companies. And, of course, get giddy because a new industry is being born that we will soon have a chance to invest in if we choose to do so.Disclosure: Authors of this Scoop own shares of Activision Blizzard (Ticker:Â ATVI) and Take-Two Interactive (Ticker:Â TTWO).
About the Author
The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card
