On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains takes a look at the new trade deal between the U.S. and Japan, while Wall Street waits on China. On top of that, Beyond Meat (BYND - Free Report) stock soared after it landed a deal with McDonald’s (MCD - Free Report) . We then preview memory chip giant Micron’s (MU - Free Report) Q4 earnings and close with a look at why La-Z-Boy (LZB - Free Report) is a Zacks Rank #1 (Strong Buy) stock.
Traders and Wall Street must wait to see what will come from the upcoming trade talks between the U.S. and China, as they assess the newly heightened drama in Washington D.C. In the interim, they might have to be satisfied with a smaller trade deal between President Trump and Japanese Prime Minister Shinzo Abe, which could be a sign that a more comprehensive agreement between the two world economic powers is coming.
Meanwhile, revised U.S. second-quarter GDP data remained unchanged, driven by strong consumer spending. Beyond Meat stock also soared Thursday morning after news broke that McDonald’s will test a sandwich using its plant-based patties
Conagra (CAG - Free Report) stock also surged after the packaged food firm reported its quarterly financial results. Carnival Corporation (CCL - Free Report) was not as lucky, with its shares down big after it cut its outlook.
Looking ahead, all eyes will be on Micron after the closing bell Thursday. The semiconductor firm has gone on a huge run in 2019, as have AMD (AMD - Free Report) , Nvidia (NVDA - Free Report) , and other chipmakers. However, its fourth-quarter fiscal 2019 outlook calls for even larger declines than the previous two quarters.
Today’s episode of Free Lunch then closes with why furniture power La-Z-Boy is a Zacks Rank #1 (Strong Buy) stock heading into the holiday shopping period.
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