Is it Christmas already, Scoopers?
Oh, boy, it’s like Christmas. Except that its a normal day of the week and your portfolio is your gift under the Christman tree. You open it up and it’s full of goodies, in the form of growing stock prices. The Nasdaq was up more than 2% on Thursday, and all three indices have been moving up about 1% every single day, this week. Is Santa in town this early?
Beyond the overall market, one iconic Chinese stock got a nice boost. Maybe, the party just got started for this company. While another icon American retailer lost quite a lot of its money. It’s like the party is over for this company.
Oh, and by the way, do you think Katy Perry can save Harley-Davidson? More on that in the “Water Cooler” section.Also, don’t forget to scroll down to the “Overall Market,” “What’s Up?” and “What’s Down?” sections to read more.
- U.S. markets: All three indices were up another day, with the Nasdaq leading the upward movement by more than 2% gain. Scroll to the “Overall Market” section to learn more.
- Cryptocurrency: Bitcoin’s price is still above $9,000 mark. However, analysts are starting to talk about a new crash. Will it come? With Bitcoin, no one knows. It might crash just as likely as it can surge.
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Thank you, China.
What happened in the stock market?
The last few days’ excitement about the potential signing of phase one of a trade deal between the U.S. and China got confirmed by Chinese. Overnight, China announced that both parties have agreed to cancel some of the previously announced tariffs, and on that news, the stock market has been running wild to new record-highs.
Does this mean the worries are over?
Well, at least one man doesn’t think so. Ray Dalio, the founder of Bridgwater Associates and the guy whose face keeps popping up everywhere on the internet these days, thinks that the world has gone mad and the system is broken. Party all you want, the stock market, the capitalist system is not working, says Dalio.
We don’t know how long the market excitement will go on, and it may go one for quite a long time, but there is always a chance for a decline, especially as the excitement over-heightens, like what’s happening this week.
Shares of Baidu (Ticker: BIDU) were up more than 13% on Thursday. The company is most known for its search platform in China. Most people call it the Google of China. However, the company’s stock status in the last few months and quarters hasn’t been anything but like Google.
The slowdown in the Chinese economy, among other macro and political challenges, has pushed the company into unprofitability. However, things may be turning for the better.
In the last quarterly earnings, the company talked about the reversal of the trends. In the latest quarterly earnings, it showed quite a lot of success. If you exclude the impact of the now-sold Business segment, the company grew revenue by 3% year-over-year, and by 7% quarter-over-quarter. Also, Baidu’s management is forecasting an even better performance for the rest of the year.
Maybe, the party is not over at Baidu. As a matter of fact, the party is just getting started.
The party is over for this American retailer.
Shares of Party City (Ticker: PRTY) were down more than 65%. Yeh, you read it correctly. It is down 65% in one day. It’s almost like the party is over. Am I right? Party or not, let’s see what happened. The same-store sales were down more than 2%, the company lost quite a lot of money and reduced its forecast for the full year. There is nothing funny about this quarterly earnings report, except that the management blames the dismal performance on the shortage of helium. Get it? Birthday balloons, helium, … you know… What’s a party without a balloon?
Can Katy Perry save Harley-Davidson?
We’ve been talking about Harley-Davidson running out of favor with the new generation. Even the promise of an electric bike hasn’t changed millennials’ hearts, until now!
Katy Perry just released her latest music video, Harleys in Hawaii. And, take this, there was no wooing by the good people at Harley-Davidson. She just did it because she thinks riding Harleys is hot.
It’s like the lady luck is turning its face toward Harley-Davidson once again. If you are a millennial woman, tell us something. Can Katy Perry change your mind about Harley-Davidson?