It was business as usual in the stock market on Thursday. — More on that in the “Overall Market” section.
Beyond the overall market, cruise line stocks were up pretty noticeably. Are we back cruising? At the same time, the world’s unofficial sanitizer stock had a bad day. Why? — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, would you make an appointment for shopping for a T.V.? — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
- U.S. markets: All three indices finished Thursday in the red. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: The excitement about Bitcoin halving is subsiding, and the industry is awakening to the reality of lower rewards. That’s most likely the reason Bitcoin’s price has started to descend.
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Business As Usual
Another 2.4 million people filed for unemployment claims last week. However, the rate of growth in unemployment claims is slowing down, finally. The push and pull for another round of stimulus cheques, and the warning of more economic uncertainties continued as usual. These days, volatility and the talk of an economic recession is the usual business of the market. In the end, all three indices ended the day in the red.
Are We Back Cruising?
So, what happened?
Shares of Norwegian Cruise Line (Ticker: NCLH), Royal Caribbean Cruises (Ticker: RCL), and Carnival Cruise (Ticker: CCL) were up more than 9%, 6%, and 3% respectively on Thursday. It’s surprising to see the price jump, mainly because the expected cruise line’s revenue for the rest of the year is near zero, if not 1005 zero. The COVID-19 pandemic has wiped out emotional and financial confidence in the future of the cruise line industry. So what drove the stock price Thursday?
Analysts from a few firms, including Credit Suisse, initiated their coverage of the cruise line stocks, and they mostly had good things to say about their future. Overall, the sentiment is that the sharess are severely beaten, and once the economy returns to normal, things will return to normal for these companies.
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World’s Unofficial Sanitizer
So, what happened?
Shares of Clorox (Ticker: CLX) were down more than 2% on Thursday. The company’s unofficial role as the world’s sanitizer during the COVID-19 has helped the stock price to jump by 29% in 2020. Additionally, on Wednesday, the news came out that the company is partnering with United Airlines (Ticker: UAL) to implement a new disinfecting anything and everything that an airline passenger may come across as she goes through her journey in the air. That means multi-month new revenue for Clorox and should maintain its hold on the title of the world’s unofficial sanitizer
Make An Appointment To Buy A TV
So what happened here?
Best Buy’s (Ticker: BBY) CEO wants you to make an appointment for buying a T.V. In the era of online shopping, going to an actual store was already a chore, and now we have to make an appointment?
However, if anyone can pull it off and still come out of it strong, it would be Best Buy. The company has a knack for the resurrection from the dead.
Would you make an appointment to buy a TV? Let us know by emailing us at firstname.lastname@example.org.