Thursday’s Headlines: Dow Has Its Best Day Since July
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
GoPro (GPRO) +29.2%
Nautilus (NLS) +8.9%
Wix (WIX) +6.2%
Etsy (ETSY) +6.0%
Duluth Trading (DLTH) +5.8%
Moving Down ⬇️
Baozun (BZUN) -1.0%
Evolent Health (EVH) -0.9%
1. Just for once, wouldn’t it be nice to see a day where all stocks moved up or down less than 1%? A boring day, if you will… Yesterday wasn’t that day though, with the Dow Jones (DIA) soaring 544 points for its best day since July. After President Donald Trump tweeted support for some stimulus measures, the 30-stock index rose nearly 2%, the S&P 500 (VOO) jumped 1.8%, while the Nasdaq climbed 1.9%. The president specifically urged Congress to approve airline payroll support, saying that money and aid for small businesses could be paid for with unused funds from the previous stimulus, and also pushed for another round of $1,200 stimulus checks for Americans. Read the full story here.
2. When it wasn’t designing sneakers (Google it) or suffering outages, Slack (WORK) was working on a host of new features to make workplace collaboration easier. Among the biggest innovations unveiled during its Frontiers conference this week, Slack revealed ‘Connect DMs’, which allows users inside an organization to collaborate with anyone outside their company simply by sending an invite. Its stock price rose 3.5% off the back of this revelation as the company seeks to offset stiff competition at the hands of Microsoft Teams (MSFT). Get a full rundown of all Slack’s Frontiers announcements here.
3. Netflix (NFLX) investors will certainly be chillin’ this morning after an analyst upgrade saw the streaming leader’s stock rise 5.7% on Wednesday. The Blockbuster-killer soared after Pivotal Research Group analysts upping their price targets to $650 from $600, citing confidence in the company’s ability to keep growing post-COVID as well as retain subscribers despite price increases. Shares in Netflix have soared close to 60% so far in 2020 alone compared to the S&P 500 benchmarks 4% gains in the same period. Get a full loadout here.
It was also a rare good day for GoPro (GPRO) shareholders yesterday as the company's stock jumped close to 30%. Find out more about what happened here.