| What you need to know?
Tuesday's gloom took over the market.
From a new corporate crisis at a credit card company and diluted shares of everyone's favorite meat alternative burger to a three-year-long restructuring at a sports apparel maker, investors didn't have much to be giddy. There were some silver linings, but not enough to save the market. Scroll down to the What's up? and What's down? sections to read about what you need to know.
Markets
|  | S&P | 3,013.18 | -0.26% | | | | | | Nasdaq | 8,273.61 | -0.24% | | | | | | Dow | 27,198.02 | -0.09% | | | | | | | | 10-yr | 2.062 | -0.0044 | | | | | |  | Gold | 1,431.90 | +0.15% | | | | | | | Oil | 58.15 | +0.17% | | | |
*as of market close
- U.S. markets: The downward trend of the s&p 500 and the Nasdaq continued and spread over to the Dow. All three major indices wrapped up Tuesday lower than where they started the day. Scroll to the Overall Market section to read more about what happened.
- Cryptocurrency: Ugh, so boring! Bitcoin's price continued in mid $9,000 per coin. The cryptocurrency traders are holding off these days to get a clearer view of the regulatory changes that are expected to come. Tuesday's hearing by the Senate Banking Committee on regulatory frameworks for cryptocurrencies and blockchain technology is a sign of continued regulatory concerns about cryptocurrencies.
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Overall Market
Do you have a plan for whatever that comes down the road?
What happened on Tuesday?
On the heels of the Fed's meeting over the interest rate and the face-to-face negotiations between the U.S. and China, the stock market took its foot off the gas pedal, and all three major indices finished Tuesday in the red zone. Such major macro and political changes can move the market in either direction.
Now what?
Whatever their goals and strategies are, savvy investors have one thing in common. They have a plan for whatever that comes down the road. Do you?
Like we discussed yesterday, if the stock market goes down, be ready with a few well-managed companies on your shopping list. If the stock market ends up higher, celebrate your success, and move on.
What's Up
There were a few silver linings on Tuesday.
So what happened?
- Apple (Ticker: AAPL) managed to impress investors by returning to revenue growth, and the stock gained more than 3% on Tuesday.
- Shares of RingCentral (Ticker: RNG) were up more than 10% on Tuesday, and the stock price hit a new all-time high. The company has changed its direction and it's now offering cloud-based messaging infrastructure to the darlings of the stock market such as Zoom (Ticker: WORK).
What's Down
These stocks didn't have a good day.
- Capital One (Ticker: COF) shares continued to fall more than 6% as the news of the data breach spread, and customers and law firms are partnering to sue the company for the company's lack of vigilance with the customers' data.
- Overall, the decision by Beyond Meat (Ticker: BYND) to raise more money through the second round of shares offering should be considered as a savvy move by the management to benefit from the high stock price. However, the decision has left a bad taste in investors' mouths ( no pun intended), and the stock price continued to fall another 11%.
- Unsurprisingly, Under Armour (Ticker: UA and Ticker: UAA) didn't impress investors and fell more than 11%. The company continues to struggle to grow in North America, in the same market where competitors such as Nike (Ticker: NKE) continue to thrive. The company is spiraling down in a three-year restructuring project.
- Investor continued to evaluate the newcomer 2U Inc (Ticker: TWOU) with a short-term lens. The company develops a platform to offer traditional educational content online and has several large education brands in its customer list. While the future is bright, the short-term performance fell short of the expectations and the stock lost more than 16%.
Water Cooler
Don't lose your mind over $125.
So, what happened?
Who doesn't want $125 pocket money that he didn't know he can have? That's how much Equifax (Ticker: EFX) is planning to pay to those people whose data and privacy got breached in 2017. And, the internet has been going crazy about how you can claim your $125.
Ironically, data criminals are also as excited as everybody else. Apparently, all sorts of new websites are popping around the internet, and asking for all your private information in exchange for your $125 Equifax money. The frenzy is so widespread that the FTC has issued a warning.
Don't fall again for another data breach, this time of no fault to Equifax.
Disclosure: Authors of this Scoop own shares of 2U Inc (Ticker: TWOU), Under Armour (Ticker: UA and UAA), and Apple (Ticker: AAPL).
About the Author
| | | Brought to you by Hoda Mehr, Editor at Trade Stocks, CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 8,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism and storytelling to all aspects of her work. Subscribe for free here. | |
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