Investing

Americans are becoming increasingly comfortable with cannabis use.  A recent Gallup survey found that adults aged 34 and younger are consuming fewer alcoholic beverages while cannabis use continues to rise. On average, young adults consume nearly two fewer alcoholic beverages per week than young adults one decade earlier. In contrast, cannabis use among adults between… Continue reading Cannabis Use Picks Up in Young Adults: This Week in Cannabis Investing

The second half of Friday’s session looked nothing like the first. This morning’s price action was volatile thanks to Federal Reserve Chair Jerome Powell’s speech at the central bank’s annual economic symposium in Jackson Hole, Wyoming. Stocks climbed steadily higher throughout the afternoon, though, to end the week on a high note.   All eyes… Continue reading Stock Market Today: Powell Speech Sends Stocks on Roller-Coaster Ride

Federal Reserve Chairman Jerome Powell got to the point quickly in his speech at the central bank’s annual conference in Jackson Hole, Wyoming, on Thursday: “It is the Fed’s job to bring inflation down to our 2% goal, and we will do so.” Powell acknowledged that inflation has fallen from its peak, but also stressed… Continue reading The Fed Remains Prepared to Raise Rates Further If Needed, Powell Says

Ulta Beauty (ULTA) reported solid results in its second quarter earnings report Thursday, beating expectations, although the market did not have an overly exuberant response.  For the quarter ended July 29, Ulta reported revenue growth of 10.1% to $2.5 billion as its diluted earnings per share (EPS) rose 5.6% to $6.02. The increase in revenue… Continue reading Ulta Earnings Beat Expectations With Growth In Major Categories

It appeared early Thursday as if a positive reaction to Nvidia’s (NVDA) blowout earnings was going to lift stocks across the board, with the main benchmarks climbing out of the gate. But the broad-market buying power fizzled mid-morning as investors turned their attention to disappointing economic data and the start of the Federal Reserve’s annual… Continue reading Stock Market Today: Stocks Erase Nvidia Gains Ahead of Powell Speech

Dollar Tree (DLTR) posted second-quarter results that beat estimates but expects a weak third quarter and narrowed its full-year earnings outlook. The discount variety store operator, which includes Dollar Tree and Family Dollar stores, cited several issues weighing on margins, including “elevated shrink,” the industry’s term for retail theft. Dollar Tree’s shares fell more than… Continue reading Dollar Tree Eyes Higher-Income Shoppers, Q2 Sales Rise

Petco Health and Wellness (WOOF) beat revenue and met earnings expectations for the second quarter but said that a shift in consumer spending and pressures on its discretionary business led it to issue a full-year profit warning. The pet supply retailer’s stock fell on the news by over 15% at the start of the today’s… Continue reading Petco Cites Consumer Spending Pressures, Cuts 2023 Guidance

Advance Auto Parts’ (AAP) second-quarter revenue rose slightly but earnings sank as price increases could not offset higher product costs and supply chain deleverage. For the quarter ended July 15, Advance reported net sales growth of 0.8% to $2.7 billion, which beat analysts’ expectations, and diluted earnings per share down 39.9% to $1.43, which missed… Continue reading Advance Auto Parts Updates Guidance As Profits Fall