🍨 Daily Scoop: Last week’s lightning-round
By Mon, Sep 30, 2019
Happy Monday Scoopers,
Last week, the stock market mostly hovered in the red zone, with just a few green spikes here and there. With everything that was going on between the U.S. and China, in Washington, and across the globe, it wasn’t too surprising to see the market’s overall decline. Here are the most important events that shaped the direction of the market, last week:
The stock market started the week rather flat. While the overall market was falling, Apple’s (Ticker: APPL) success in dodging the tariffs and its sheer size and influence on the direction of the market offset the macro fears and kept the market flat. Read more here.
There weren’t any major news or announcements on Wednesday. Thus, the stock market returned to a happy mode and ended the day in the green. Read more here.
On Thursday, a rumor about the future relationship between China’s Huawei and the U.S. chipmakers dampened investors’ optimism, and the market returned to the red zone, after just one day of upward movement. Read more here.
Finally, the market wrapped the week in the red, as more rumors and reports talked about the White House’s plan to prevent all investments in Chinese companies. This may include delisting individual companies such as Alibaba (Ticker: BABA) and Tencent (Ticker: TCEHY) from the U.S. stock exchanges.
And, that’s how the stock market ended the week lower than where it started. Scroll down to the “Overall Market” section to get more details. Also, learn about “Yogababble”, an indicator of a disastrous IPO, in the “Water Cooler” section.
MARKETS
- U.S. markets: The stock market ended Friday in the red zone, with the Nasdaq taking the biggest hit and falling more than 1% on Friday, alone. Scroll to the “Overall Market” section to learn more.
- Cryptocurrency: It wasn’t particularly a great week for Bitcoin, either. Mid-day Friday, Bitcoin’s price was on its way to the biggest weekly decline in 2019. The world largest cryptocurrency in market capitalization wrapped up the week around the $8,000 mark.
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OVERALL MArket
Why did the market finish in the red zone?
What happened last week?
All three major indices lost value on Tuesday, and Nasdaq took the biggest hit with an almost -1.5% decline. It appears that the consumers are losing their confidence in the economy as measured by the Consumer Confidence Index.
What does this mean?
The two main forces that dragged the stock market lower last week were political concerns related to the President’s impeachment inquiry and the publication of the third revision of the economic growth estimate. This new revision showed that the level of investment by businesses was even lower than the original estimate published before. It looks like that American businesses are concerned about the future and are shying away from investing in their future priorities. The trade war and global economic growth slowdown are some of the reasons preventing businesses to spend money. Until those concerns are not resolved, we may not see a meaningful reversal in the direction of the market.
SHOUT-OUTS
Our three favorite Scoopers this week
Shout-out to Joseph S., Tasha D., and BlueChipDrip who took the time and sent us a few encouraging words during the week.
To all other Scoopers, thank you for reading. You can always reply to The Daily Scoops and let us know how we are doing, and what we can do better. We read all our emails.
WATER COOLER
“Yogababble”
So, what happened?
It seems that the excitement about plant-based burgers is settling down in the stock market. However, companies all around the world are ratcheting up their effort to release their own version of plant-based meat.
The latest addition to the bunch is Nestle (Ticker: NSRGY) that just launched Awesome Burger. Someone in the marketing department was in an awesome mood when they were naming this product.
Get used to funky-named plant-based products flooding the market in the next few months and years. This market is forecasted to grow from almost $5 billion per year to $85 billion in 2030. That’s 17 times growth in slightly more than a decade. Are you ready for Awesome Burger?
So, the next time you are reading a company’s IPO document, and you find yourself reading the first paragraph of the document a few times to figure out what the company does, take it as a good sign that most likely you will be better off skipping the IPO.
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
