Stocks at a mixed start as retailers ready for Cyber ​​Monday



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The shares had a mixed start to the week of Monday, November 27, when investors returned to trading on Cyber ​​Monday after a long weekend of Thanksgiving.

The Dow Jones Industrial Average fell 5 points, or 0.02%. The S & P 500 was close to flat, and the Nasdaq fell 6 points, or 0.09%. The S & P 500 gained 5 points, or 0.21%, to close above 2,600 on Friday, November 24 for the first time and get a new record. The Nasdaq rose 22 points or 0.32%, also closing at a new record of 6,889.

After a Black Friday that leaned heavily towards online shopping, Cyber ​​Monday could break new records this year. Sales are estimated at a total of $ 6,600 million, which would make Monday the largest online shopping day in history according to Adobe Analytics.

Last week, Black Friday and online Thanksgiving sales went up to $ 7,900 million, or a 17.9% increase over the same period last year. For the first time, smartphone and tablet traffic for online purchases is expected to outpace desktop traffic.

Strong online predictions are good news for Amazon.com Inc. (AMZN), which is expected to capture 50% of everything. On Monday, Amazon shares rose 1.93%.

Meanwhile, online prices from Walmart Stores Inc. (WMT) were approaching Amazon's for the first time on Cyber ​​Monday, according to a new study. , while the battle for consumers during the biggest shopping days of the year continues.

Shares of Macy & # 39; s Inc. (M) rose 0.66% on Monday despite Black Friday reports that the retailer's credit card machines fell. Shares of Target Corp (TGT) rose 0.27% on Monday as the company prepares to offer Cyber ​​Week offers through Saturday, December 2. The SPDR S & P Retail ETF (XRT) gained 0.46%.

For Monday, the economic calendar in the US. UU Includes Sales of new homes for October at 10 a.m. ET.

Earnings reports are expected Monday from Tech Data Corp. (TECD) and Thor Industries Inc. (THO).

In news of non-purchasing agreements, Meredith Corp. (MDP), the owner of Better Homes & Gardens, reached an agreement to acquire Time Inc. (TIME) for $ 18.50 per share in a valued cash transaction at $ 2.8 billion. The agreement, which is expected to end in the first quarter, represents a premium of 46% over the closing price of Time Inc. on November 15, the date on which press reports appeared about Meredith's interest.

Meredith estimated that, had the merger occurred in 2016, the combined company would have had sales of $ 4.8 billion and adjusted earnings before interest, taxes, depreciation and amortization of $ 700 million. Meredith said he believes it could generate between $ 400 million and $ 500 million in synergies within the first two years of operations, probably through staff consolidation.

In addition to securing $ 3.55 billion in new financing from a consortium of RBC Capital Markets, Credit Suisse, Barclays and Citigroup, Meredith secured a preferential capital commitment of $ 650 million from Koch Equity Development, a backed investment fund by conservative billionaires Charles and David Koch.

Meredith said that KED will not have a seat on its board of directors and have no influence on its editorial or management operations. For the Koch brothers, buying in a combined Meredith-Time would mark their first major movement in the media business. Shares of Meredith rose 10.1% and Time Inc. shares rose 9% on Monday.

Investors will look for more guidance on tax reform when the Senate votes on its version of the bill this week. Republicans in Congress are pushing to get a bill for President Donald Trump's desk before the end of the year. After the Republican Party of the House of Representatives approved its tax bill before Thanksgiving, the Republican leaders of the Senate will try to do the same this week despite having a considerably smaller margin of error, while The Republican Party could achieve 20 defections and pbad a bill. GOP can only afford two.

Bitcoin prices are on track to hit the $ 10,000 threshold this week after hitting another record high in Monday night's trading amid a global cryptocurrency avalanche that raised totals to more than 300 one billion [19659002] Bitcoin traded up 3.04% to $ 9,609 on Monday, after hitting a new high of $ 9,689. It is the latest in a series of new highs for bitcoin: the cryptocurrency exceeded $ 8,000 eight days ago and broke $ 9,000 a day ago.

Earnings extend the advance of bitcoin so far this year to 870%. The digital currency now trades at 7.5 times the price of gold, after having traded $ 200 below the bullion on January 1.

Coinbase, the largest bitcoin exchange in the US He said he had added around 100,000 accounts or "wallets" in the days leading up to Thanksgiving weekend, bringing the total to around 13.1 million since consumers seemed to prefer the digital currency as a Christmas gift or a means to buy Black Friday.

The main rival of Bitcoin, ethereum, also reached a record of $ 475, taking its so-called market capitalization to around $ 46 billion, giving the entire spectrum of digital currencies a global value of more than $ 300 thousand millions.

Shares of Marathon Patent Group Inc. (MARA) jumped 57.8% early Monday. The company, which is involved in intellectual management and licensing, is widely considered a bitcoin project since it acquired the cryptographic mining company Global Bit Ventures Inc. in early November.

Oil prices fell a bit before an OPEC meeting on Thursday, November 30. Crude prices hit two-year highs on Friday, jumping almost 1.5% by adjusting OPEC expectations and the continued closure of the Keystone XL pipeline. On Monday morning, West Texas Intermediate crude futures fell 0.87% to $ 58.44 a barrel.

OPEC and producers, including Russia, are expected to meet later this week to discuss the extension of cuts beyond their March 2018 deadline. Operators have doubted the earlier optimism that the extension would happen, since Russia is considered a wild card at this time.

Lowe & # 39; s Co. shares rose 1.09% on Monday after Raymond James raised the company's stock to outperform the market after strong third-quarter earnings. Raymond James said that Lowe & # 39; s now is more attractive than the competition both in its home improvement retail sector and in the market in general.

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