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- Traders Agency | March 13th, 2024
Traders Agency | March 13th, 2024
Today’s report is brought to you by Traders Agency. With Traders Agency you can become a trader with our trading courses & software. We simplify the markets towards your success.
MOST ANTICIPATED EARNINGS TODAY
MARKETS AT A GLANCE
| Index/Asset | Day | Month | Year |
|---|---|---|---|
| Dow | ▲0.61% | ▲0.90% | ▲21.68% |
| S&P | ▲1.12% | ▲2.95% | ▲32.90% |
| Nasdaq | ▲1.54% | ▲0.24% | ▲41.04% |
| Bitcoin | ▼0.88% | ▲43.13% | ▲188.64% |
| 10-Year | ▲1.24% | ▲0.07% | ▲15.74% |
[ good morning ]
Here’s everything you need to know today
Ahead of next week's pivotal rate decision, we're still in winners & losers season. Retail is rounding out our earnings calendar and things are looking pretty bleak for discounters.
Dollar Tree is in freefall thanks to margins basically evaporating. While plenty of consumers are opting to buy from discounters, too many of their core customers are using them as a store of last resort. The result is dollar stores being forced to sell low-margin goods. Those margins are only getting lower as production costs and outright theft continue to spike.
Specialty retailers like Petco are thriving as other consumers recover though, so this market is nothing if not a mixed bag.
Let's dive into the specific stories driving the price action today and try to understand what's next for this market.
 | RETAIL |
BREAKING NEWS
Under the weight of immense margin pressure, Dollar Tree is going for the nuclear option by closing 600 stores in the next 3 months. Inflated prices, bad sales, and soaring theft are crushing their ability to profit. Can they save their business?
WHAT HAPPENED
Dollar Tree reported earnings this morning and it just wasn’t pretty. While the budget retailer managed to pull in $749 million of adjusted net income from $8.63 billion in revenue for Q4—they have bigger problems. Dollar Tree hit themselves with near $2 billion in charges related to re-optimizing all their stores. The stock is burning down in early trading because Dollar Tree needs to make some deep cuts.
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 | SEMICONDUCTORS |
BREAKING NEWS
Intel stock got rocked this morning after Bloomberg reported that the Pentagon is bailing on a $2.5 billion grant for the chipmaker. What gives?
WHAT HAPPENED
Intel has been rising thanks to chip optimism buffeted by an incoming $3.5 billion grant from the U.S. government. Biden’s CHIPS act has been dumping investment on manufacturers like Intel in order to boost U.S. dominance in the semiconductor industry. $2.5 billion of Intel’s CHIPS money was supposed to come from the military—making Intel a key provider of semiconductors for the Pentagon moving forward. According to a Bloomberg report, the Pentagon is pulling out of their end of the deal. That’s not good.
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 | ECONOMY |
BREAKING NEWS
With markets laser-focused on inflation—a lot of investors were surprised yesterday when every major index rose in response to a hotter-than-expected CPI. The data behind the report tells us why the news is better than expected.
WHAT HAPPENED
Every genuinely ‘major’ inflation driver kept cooling off in February. In particular, groceries and food away from home fell hard after being one of the biggest sources of inflation for the past year. Sure, groceries still rose by 1%—but that’s well below the Fed’s 2% yearly target. Meanwhile, expenses like auto insurance soared 20%, but those price increases aren’t expected to stick around. The only major inflation driver right now is gasoline flipping to a 3.8% monthly price increase—but that’s after 4 straight months of declines.
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What You Missed Yesterday
Aramco's Record $121 Billion Profit Could Challenge Biden's Clean Energy Vision Kohl’s Falls Despite Profit Recovery Oracle Reactivates AI Rally | Southwest Falls as Boeing Fallout Spreads Bitcoin's $70K Breakthrough Backed by MicroStrategy's Bold Strategy Japanese Economy Narrowly Dodges Recession |
Extra Moby Snacks
PetCo popped thanks to stronger earnings and a new direction for their executive team. The stock soared over 7% in early trading.
U.S. demand just might put inflation back on the table thanks to lower oil reserves. Oil prices popped this morning thanks to new reports that demand is eating into our reserve supply. WTI crude is now over $78 per barrel.
Today’s report is brought to you by Traders Agency. With Traders Agency you can become a trader with our trading courses & software. We simplify the markets towards your success.
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