According to a Reuters report, a U.S. judge dismissed a lawsuit that accused the company of using an algorithm making its private-label products cheaper than other goods.
Stocks were little moved during midday Monday trading in New York, as a mixed retail sales report failed to generate a bullish response from investors.
U.S. retail sales miss expectations in Feb, raising concerns about consumer strength. However, some areas show resilience & economy not near recession.
Analysts expect an 11.4% drop in third-quarter sales — the worst decline in the last five quarters — and a 70.6% drop in EPS, according to Koyfin data.
Inflation cooled in February, sparking hopes of interest rate cuts. Sectors that could benefit are consumer discretionary, tech, and real estate. Consider XLY, XLK, and IYR ETFs.
The stock has now erased all gains from Trump's election victory in November, when investors bet Musk's ties to the president would benefit the EV maker.
Jefferies reportedly expects the company to double its market share in experiences to 6%, adding $8 billion in bookings and $1.6 billion in revenue by 2030.
Stocks extended last week's losses on Monday as concerns over the U.S. economy continue to weigh on the market. The Nasdaq 100 saw the steepest declines, with Tesla, Inc. (NASDAQ:TSLA) and Palantir Technologies, Inc.
All three major indices were red in Friday’s midday trading, with the S&P 500 and Nasdaq 100 down 1% and 1.24%, respectively, and on track for their worst weeks since September 2024.
