🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Strong Retail, Wal-Mart, And Tech Bolster Markets As Oil Slumps On Covid Europe

Published 11/21/2021, 12:19 AM
Updated 07/09/2023, 06:31 AM

“If you think Independence Day is America’s defining holiday, think again. Thanksgiving deserves that title, hands-down.” —Tony Snow


During the next week, most Americans will be preparing for and then celebrating Thanksgiving. It is the quintessential American holiday. Families gather with their loved ones and friends for the sole purpose of spending time with each other and eating. What could be better? When you add sports to the mix, well, it happens to be a really great day.

Part of thanksgiving is the inevitable travel which goes along with it. You see, Wednesday is the busiest travel day of the year. Airports and roads are jammed packed. It is no wonder as grandma’s stuffing, mashed potatoes, and pumpkin pie are waiting.

There is another important item which uses Thanksgiving as the line of demarcation. It is called Black Friday, the day after when holiday shopping starts in earnest. We all know this has been pushed forward earlier and earlier, but it remains a big day on the business calendar.

From a seasonal perspective, retailers know how critical the holiday time frame is for their yearly profits. In the financial markets, this time of year begins a period where markets usually rally. Investment banks line up plenty of stock and bond underwriting business.

As the year winds down, companies use the year end as an opportunity to buy whatever is needed for the upcoming year. If there is a deduction out there to be had, now is the time to find a reason to buy that piece of equipment. It is amazing how accelerated depreciation can be a motivating factor. Advertising usually sees a big push as the end of the year is applicable in that area as well. All of these factors come together to combine for a quarter which is typically pretty strong.

In the markets last week, the big news came from Wal Mart as it beat earnings expectations. Two big tech titans, NVIDIA (NASDAQ:NVDA) and Intuit (NASDAQ:INTU) blew past their estimates and helped the NASDAQ finish on an upbeat tone.

In the media space, Liberty Global (NASDAQ:LBTYA) held their annual investor conference. For many years I attended the event, which is always run extremely well and in a first class manner. A few years ago I decided I was quite familiar with Liberty and didn’t need the hassle of traveling to the east coast when the weather could become pretty difficult. Still, it is always a good idea to pay attention to what Liberty is doing. You might watch the clip with Malone’s opinion on the current state of the market. I believe the term he uses is ‘land grab.’

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.