Peloton Stock Is Under Pressure as UBS Says to Sell (SPY +0.6%). Goldman earnings top estimates and oil rises on expectations of big US Stimulus package.
Here is the current market situation from CNN Money
North and South American markets are mixed. The S&P 500 is higher by 0.66%, while the IPC is leading the Bovespa lower. They are down 1.82% and 0.71% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Oil Rises On Expectations Of Big U.S. Stimulus Package Oil prices shook off the risk-off trade on Monday and rose early on Tuesday, amid expectations that U.S. Treasury Secretary nominee Janet Yellen will push for a large relief package to support the U.S. economic recovery. As of 10:39 a.m. ET on Tuesday, WTI Crude prices were up 0.92 percent at $52.80 and Brent Crude was trading up 1.92 percent at $55.80. A weaker U.S. dollar also helped the rise in crude oil prices. The dollar slipped from a one-month high early on Tuesday, just before Yel
DineEquity, Inc (NYSE:DIN), Red Robin Gourmet Burgers, Inc (NASDAQ:RRGB) - Why Raymond James Is Upgrading Red Robin, Dine Brands
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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Restaurant brand manager
Dine Brands (NYSE:DIN) is having an interesting 2020, to say the least. The company announced a CEO transition in May, near the peak of the COVID-19 crisis. It took five months to find a replacement for Stephen Joyce, who guided the company through a fairly successful turnaround over the last three years. Now that the corner-office handoff is ready for completion on Jan. 4, the parent company of IHOP and Applebee s is struggling again.
This year seemed to be defined by “under-performing” units closing by the hundreds across the restaurant industry.
Not only was the entire industry hit by COVID-related indoor-dining closures, but the decrease in ordering food – in spite of the success of The Great American Takeout and Paycheck Protection Program loans – caused many restaurant groups to face large financial strains.
Starbucks, one of the top 10 restaurant chains on NRN’s Top 200, suffered because of a workforce that went largely remote and abandoned the breakfast daypart. Dunkin’ also faced the same issues.
Between the two quick-service giants, over 1,600 domestic units were permanently closed.