On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains discusses the latest news out of Washington that includes articles of impeachment against President Trump, House Democrats support for the new trade deal between the U.S., Mexico, and Canada, and what’s next on the U.S.-China trade war front. The episode also dives into some quarterly earnings results, before it closes with why Tilly's (TLYS - Free Report) is a Zacks Rank #1 (Strong Buy) stock right now.
The Dow, S&P 500, and the Nasdaq opened lower Tuesday, only to climb slightly, in a day that could see all three major indexes fluctuate. The back and forth comes amid a ton of news that impacts Wall Street. First, House Democrats officially announced two articles of impeachment against President Trump.
Then, House Democrats said they struck a deal to support the new United States–Mexico–Canada Agreement, or USMA that will end NAFTA. Trump took to Twitter right before the official announcement saying, “Looking like very good Democrat support for USMCA. That would be great for our Country!”
Wall Street might be even more focused on what happens between the U.S. and China. A new Wall Street Journal report says that the two sides are planning to delay the new tariffs that are set to start to start on December 15.
Meanwhile, Netflix (NFLX - Free Report) stock fell over 2% Tuesday as Wall Street’s worries continue as it faces more competition from Apple (AAPL - Free Report) and Disney (DIS - Free Report) . In positive news, both Stitch Fix (SFIX - Free Report) and AutoZone (AZO - Free Report) stock surged on the back of stronger-than-projected quarterly results. Looking ahead, Lululemon (LULU - Free Report) reports its Q3 results Wednesday.
The episode then closes with why Tilly's stock, which is trading under $13 per share, looks like it might be worth buying at the moment.
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