GPS Jun 2024 32.000 put
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April PCE, Skydance ups Paramount bid, Trump fallout: Catalysts
The core Personal Consumption Expenditures (PCE) index, which excludes volatile food and energy components, increased by 0.2% in April. This reading aligned with Wall Street's expectations but marked a slower pace than the 0.3% increase witnessed in March. In addition, Treasury yields (^TNX ^TYX, ^FVX) are on the decline this morning after this inflation data. Skydance Media submitted a new offer to Paramount Global (PARA) in its bid to acquire the media giant, according to the Wall Street Journal. Former President Donald Trump has become the first US president to ever be convicted of a felony. A New York jury found the former commander-in-chief guilty on all 34 charges related to his hush money trial. Investors are watching the fallout from the case closely, looking for any potential impacts on the broader market (^DJI, ^IXIC, ^GSPC) For more expert insight and the latest market action, click here This post was written by Nicholas Jacobino
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Gap stock surges on sales growth across its retail brands
Gap (GPS) shares skyrocket by over 20% the day after reporting strong first-quarter earnings, CEO Richard Dickson telling Yahoo Finance that the fashion retailer — whose portfolio includes Banana Republic, Old Navy, and Athleta — feels "reinvigorated" across all of its brands. Morning Brief Hosts Seana Smith and Brad Smith dive into the earnings figures, highlighting areas within Gap's business that are getting a second wind this year. Catch Yahoo Finance Executive Editor Brian Sozzi's full interview with Gap CEO and President Richard Dickson. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
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PCE inflation data, Trump verdict, retail earnings: 3 Things
Stocks are on course (^DJI, ^IXIC, ^GSPC) to open Friday's session higher — the last trading day of May — on in-line inflation data from the PCE (Personal Consumption Expenditures) Index. Former President Donald Trump was found guilty on all 34 felony charges by a New York jury in his criminal hush money trial, having an impact on shares of Trump Media & Technology Group (DJT). Lastly, earnings out from big-box retailer Costco (COST) and fashion outlet Gap (GPS) may be indicating that the US consumer are still willing to spend. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
