Amazon's $2T market cap, consumer spending: Asking for a Trend
On today's episode of Asking for a Trend, Host Josh Lipton breaks down the major market trends of the trading day. As inflation has put consumers under pressure, Lightspeed CEO Dax Dasilva provides insight into Americans' dining preferences. A recent Lightspeed survey found that 51% of respondents plan to dine out at the same rate or more frequently in the next six months. He argues that Americans love dining out, pointing to the 81% who dine out at least once a month and 39% who eat out at least once a week. Meanwhile, the results of the Federal Reserve's latest bank stress test results show all 31 of the nation's largest banks could continue to lend in the event of a severe recession. Yahoo Finance's Jennifer Schonberger breaks down the results and what it means for investors. Yahoo Finance's Josh Schafer joins the show to break down his biggest takeaways from the trading day, from Amazon's (AMZN) $2 trillion market capitalization to the upcoming weekly jobless claims data. As part of Yahoo Finance's Space Race: Investing in the Final Frontier series, Varda Space Industries Co-Founders Will Bruey and Delian Asparouhouv sit down with Akiko Fujita to give insight into the advantages of pharmaceutical research in microgravity. Bruey outlines how microgravity works and how the company is utilizing it here on Earth, explaining, "It's ubiquitous and it's impossible to create in perpetuity on Earth. And so we essentially are building space manufacturing modules because we can change the outcome of chemical systems like no one else can on Earth." Finally, S&P 500 (^GSPC) performance and breadth have hit one of the biggest dislocations in 30 years. Fundstrat Global Advisors managing director Mark Newton tells Yahoo Finance's Julie Hyman, "It doesn't have to mean that the market is going to go into a correction or roll over. Those tech stocks can continue to go up and that divergence can get wider and wider, similar to what we saw back in 2021. However, we can also see what I think is going to happen is as a start of the broader market to play catch up. And we've seen a little bit of that in financials over the last week." This post was written by Melanie Riehl
