Friday, February 19th |
Good Morning Equities slipped again on Thursday following a weaker than expected jobless claims report and guidance from Walmart. On the earnings front guidance from Walmart put the market’s expectations in sharp contrast with reality. Walmart says growth is expected to continue in 2021 but at a much slower pace than in 2020. The news is not the first of its kind and sent the major indices down 0.25% to 0.75% with tech leading the losses.
On the economic front, the weekly initial jobless claims figures rose slightly versus an expected decline of 100,000 or roughly 12.5%. The increase keeps the spotlight on unemployment although other figures within the report are more promising. Both the number of continuing claims and total claims fell in the reporting period and point to rapidly declining unemployment.
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The Early Bird Stock Of The Day Snowflake Inc. provides cloud-based data platform in the United States and internationally. The company's platform enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of various sizes in a range of industries. The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowflake Inc. in April 2019. Snowflake Inc. was founded in 2012 and is headquartered in San Mateo, California. | | |
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