BBY Jun 2024 90.000 call
- Yahoo Finance Video
Shrinkflation, shoplifting, and self-checkout
Target (TGT), Macy's (M), Best Buy (BBY), were hit hard by 'rampant shoplifting' and shrinkflation, according to investor and market commentator, Jeff Macke. He joined Yahoo Finance Executive Editor Brian Sozzi on Opening Bid to discuss the difficulties and errors retailer made over recent years; specifically, self-checkout. 'Self-check was just one of the great debacle in retail history. The idea that, that people can just be trusted to check themselves out of stores. Geez,' he added. For full episodes of Opening Bid, watch on our website or listen on your favorite podcast platform.
- Yahoo Finance Video
Bullish S&P 500 calls, weak China industrial output: Morning Brief
On today's episode of Morning Brief, Yahoo Finance's Seana Smith and Madison Mills cover some of the biggest stories as the holiday-shortened trading week gets underway. The major US indexes (^DJI, ^IXIC, ^GSPC) started Monday's trading session mixed, as the S&P 500 and Nasdaq Composite hold near their record highs achieved last week. As the tech sector continues to push the market to new heights, Evercore ISI has raised its year-end target of the S&P 500 to 6,000, while Goldman Sachs has raised it to 5,600. Miller Tabak Managing Director and Chief Market Strategist Matt Maley says that the market rally signals that "investors aren't all that confident about anything outside of the AI phenomenon. And we haven't seen the big broadening out of earnings outside of the AI phenomenon." Minneapolis Federal Reserve President Neel Kashkari has indicated optimism about potential interest rate cuts, stating that one cut in December is "reasonable." However, Wells Fargo Global Investment Strategist Veronica Willis believes that two rate cuts in 2024 are still possible, noting that more economic data showing disinflation would give the Federal Reserve enough "confidence" to enact more than one cut. China's housing market continues to struggle as industrial output growth slowed to 5.6% in May, a decline of over 1% from the previous month's figure. Crude oil prices (CL=F, BZ=F) are climbing higher after China also reported weakening demand and oil refinery outputs. Energy Aspects Oil Analyst Christopher Haines explains that China is "transitioning to more of a consumer-based economy rather than an industrial-based economy... it's trying to decrease energy intensity. So actually, I think you can read [that] demand, or... some of that data that came out today is relatively constructive." This post was written by Melanie Riehl
- PR Newswire
Ulike Makes Debut Entrance Into U.S. Retail Market Via Strategic Partnership with Best Buy
Ulike, the global leader and pioneer of IPL (Intense Pulsed Light) hair removal, announces today its launch in Best Buy stores nationwide and availability on BestBuy.com. The new distribution signals the brand's entrance into U.S. brick-and-mortar locations as the company continues to gain momentum and popularity with American consumers.
