Walmart CRUSHES Earnings
Welcome to the Rude Awakening for Tuesday, November 17th.
We are looking at a premarket open here, and it’s looking to the downside…
Markets Taking a Breather
The Dow is down about 200 points, as I record.
The S&P looking to be down about 30 points.
The NASDAQ however, once again straying from the action in the Dow and S&P, is looking to open up, just slightly.
Now, the strength in the NASDAQ is largely due to Amazon (AMZN). We’ll get into that in just a moment.
3 Stocks on Today’s Watchlist
The first one to look at today, after finally being confirmed to join the S&P 500 index come December…
It’s none other than Tesla (TSLA).
TSLA is up in the premarket over $50 a share… From yesterday’s close at $408 they’re looking to open around $460.
Next up, as we are still in earnings season, we have a potential earnings play for you on Target (TGT).
In the premarket, they are looking flat on the day, but they’ll report earnings tomorrow morning before market open.
The options on TGT have a 6.6% implied move, making this a great potential trading opportunity for your watchlist.
And speaking of the retail sector…
Let’s Talk AMZN
There are a couple of things driving Amazon higher, with an expected open up by $50 on the day.
First off, Walmart absolutely CRUSHED on earnings. This earnings beat is driving the whole retail sector higher, which is helping Amazon.
But what’s an even bigger driver, Amazon is coming out with a pharmacy service where you can buy discounted prescriptions online.
That’s it for today, folks.
Have a great, safe trading day.
We’ll talk again tomorrow.
Editor, Rude Awakening