Monday’s Headlines: It’s A Big Week For Retail

Monday’s Headlines: It’s A Big Week For Retail

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Zillow (Z) +3.0%

FedEx (FDX) +2.3%

Duluth Trading (DLTH) +2.2%

Nordstrom (JWN) +2.1%

Tesla Motors (TSLA) +1.8%

Moving Down ⬇️

Evolent Health (EVH) -10.1%

Pure Storage (PSTG) -3.6%

Boston Beer Co. (SAM) -3.2%

Ericsson (ERIC) -2.7%

Nautilus (NLS) -2.6%

1. There will be uncertainty on Wall Street this week after Congress failed to agree on terms for a new stimulus package before going on recess for two weeks. This comes just as the S&P 500 (VOO) looks set to reach all-time highs, which would make it the second major index this year to do so following the tech-heavy Nasdaq (QQQ). It will be another choppy week for the market as earnings season also comes to a close, but not before major retail outlets Walmart (WMT), Target (TGT), and Home Depot (HD) report their Q2 results this week. Read the full report here.  

2. Some clarity has been cast on the TikTok saga by President Trump after he gave parent-company ByteDance 90 days to dump any assets used to support the popular TikTok app in the U.S. On Friday, the President also ordered ByteDance to divest itself of “any data obtained or derived” from TikTok users in the U.S. With Microsoft (MSFT) being the frontrunner to purchase the short-form video app’s U.S. operations, the new 90-day window gives it more time to close a potential deal. Read more here.

3. Apple (AAPL) is facing a growing number of businesses that seek to rebel against the tech giant’s seemingly monopolistic App Store policies. Since Apple banned Fortnite from the App Store last Thursday, triggering a lawsuit from creator Epic Games, the likes of Match Group (MTCH), Spotify (SPOT), Sonos (SONO), and more have pledged their support against the iPhone-maker. These events have had little impact on Apple’s stock so far, with its share price up 53% YTD, though the situation is likely to escalate in the coming weeks. Read the full story here.