Neither Arista Network’s top customers, Meta and Microsoft, revealed their earnings. ANET stock showed promise as well, just below a 198.46 cup-with-handle buy point. Microsoft stock approached the 366.78 consolidation buy point, recovering the 50-day line. Meta stock hovered just below a 326.20 buy point while still maintaining an early entry of 312.87. Adobe stock, slightly below the 570.24 flat-base buy point, continued to perform well. Several stocks showed great potential for investment.

The energy sector, however, remained resilient amidst the overall decline. The Russell 2000 suffered the most, experiencing a significant tumble of 2.1%. The S&P 500 index retreated 1.3% and the Nasdaq composite lost 1.6%. The Dow Jones Industrial Average fell 1%, dropping below the 200-day line. Wednesday’s stock market trading further reinforced the downturn. It’s important to note that pre-market activity in Dow futures and other indices doesn’t always indicate trading patterns in regular sessions. Nasdaq 100 futures, on the other hand, rose 0.1%. Dow Jones futures dropped 0.1%, while S&P 500 futures fell 0.1%. On Wednesday, the stock market experienced significant losses as Treasury yields reached 16-year highs and numerous earnings reports and guidance were disappointing. As for stocks to watch, Adobe, Arista Networks, Microsoft, and Meta Platforms all showed promise for potential investment opportunities. Additionally, Costco Wholesale CEO Craig Jelinek plans to step down in January, with COO Ron Vachris taking over. Notable reports came from Taiwan Semiconductor and Lam Research. Conversely, Netflix saw a surge in stock price due to strong subscriber growth and the announcement of price hikes. Tesla faced a significant drop due to weak earnings and cautious statements from CEO Elon Musk about the Cybertruck and other products. Investor attention turned to the 10-year Treasury yields, which continued to climb toward 5%. While Dow Jones and S&P 500 futures fell slightly, Nasdaq futures edged higher. All right.The stock market experienced a mixed start on Thursday. Or I knew that they sold men's footwear, not sandals though. I didn't know that they sold men's footwear. Yeah, and also ends a long standing feud between the two companies that were going back and forth, but I learned something new. I only do it in hotels, but perhaps some of those Peloton riders out there that are saying, you know what? Lulu, perhaps, I'll give that a shot for my next ride or clipping. Riders like yourself, I know you Peloton out there too. So, ultimately, I think the deal that you mentioned with Peloton, that gives them an out, gives them the ability for a bad decision that was made in purchasing mirror to be able to say, OK, now we've got this new partnership that allows us to sunset mirror, really focus on the partnership with Peloton, and, perhaps, that'll make sure that there's more of the integration between the mindset or mindshare of people that are legacy Peloton. They were pretty cushiony, well, well done.īut at the end of the day, the store footprints as well, and we talked about how much of that store footprint was also leaning into trying to move through much of those mirror devices and try to use that as a selling opportunity, it didn't work. And I can't wait to finally get, perhaps, next summer some of the flip-flops in the men's category. Right now, it's up by about 27%.īut you think about what it's going to take over these next few years, and the targets that they've set forth in order to double digital, in order to make sure that even in their categories, they're seeing expansion, whether that's footwear. And year to date, they're performing well. But, besides that, taking a look at Lululemon, not just the past two days, but over the course of this year, and you think about the decision making that has come about, strategically, and this broader kind of power of three times two that they lean into. I didn't even realize I was wearing my Lulu jacket for this conversation today. So certainly things, it seems to be looking up here for Lululemon. Their DTC business, which has been a growing focal point here for the company up just about 15%, and then that recent deal with Peloton.

But at this point, you're looking at Lululemon their second quarter. We talk about the fact that demand for Lululemon right now doesn't seem to be at least too pressured by some of the more macroeconomic pressures that we are seeing other retailers grapple with. That's thanks to better than expected second quarter earnings.

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