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There's a closing bell on Wall Street, and now it's market domination overtime sponsored by Tasty Trade. Jared Blicker going to be along in a moment to get us up to speed on the action from today's session. I'm going to start with the major averages here. We ended mixed here on the day the Dow, which started the day negative, then climbed as the day went on, finishing higher by a little better than 0.5%, called it about 273 points or so. The S&P 500 also higher by about 0.1%, and the Nasdaq lower.By 2.1%. We did have a lot of economic data this morning. Um, wholesale prices falling last month, retail sales, if you back out gas and autos also falling here after a strong performance the prior month, jobless claims kind of holding steady here. So all of it equaling lower bond yields and a mixed picture for stocks today. Jared's got a closer look at the action. Thank you,

Julie. Just stick with the Nasdaq a second. This is snapping a6 day streak that the Nasdaq had on and guess what, reversing positions with the Dow, which was down the last 2 days but is now up today. And let's take a look at that bond market move because I've been tracking that correlation between bond yields and the US dollar. The Dow tenure was down 7 basis points today and guess what? The dollar was down as well. So good news that that correlation is still holding there, that my thesis is that is positive for risk assets writ large.Noticing Bitcoin down a little bit, but I do want to get to the future action sector action today. We got utilities and staples in real estate and healthcare. All of those are leading, led by utilities, which is up over 2%. So is Staples. Those are defensive sectors, so not the most bullish configuration. Also taking a look at consumer discretionary that had been up 6 days. That is now down today, so that streak is out, but tech and communications services are now down.Up 4 days along with the S&P 500. So we've got an interesting mix of streaks. The Dow, Nasdaq, and S&P 500 all kind of doing their own little things here and again highlighting that this was a defensively bullish day. Now if I look at the Nasdaq 100, you can see the mag 7 largely underwater today, led by Amazon and Meta to the downside, down 2%. Tesla also down 1%. Microsoft one of the few mega caps in the green there, but up only about 0.01%.And if we flip over to the Dow, we can see a mixed board here as well. If you look to the right at some of the smaller names. Guess what? Healthcare coming back a little bit today. J&J up 2%, not a healthcare name, but Visa up 1.5%. Procter and Gamble gamble up almost 3%. UnitedHealth, this continues to be a saga. I know Angelique Kimlani has been following this. Let me just show you the year to date chart though from over.600 to 274, a shocking drop in market value, down 45% year to date. And let's leave off on the leaders here because ITA, that is the aerospace and defense ETF that is leading the way up 2%. That was the least hurt when we had that big drawdown in April that has been hitting record highs. That is another record high today.Uh, just going on very strong and then, uh, biotech finally coming back after a few days of struggle. So on that note, send it back to you, Josh.

Thank you, Jared. For more now on today's action, let's welcome in here Sandy Villery, Villery and company portfolio manager. Sandy, it is always good to see you. So you say broadly, Sandy, you're back to what you call a defensive stance here. How come, Sandy?

Yeah, Josh, I mean, it's good to see you as well and uh I'll say we started the year pretty defensively so we just kind of look back over the last decade and we see that value underperformed growth by about 7% annualized over 10 years. So we, you know, had a very good, uh, 22 and, um, I should say 23 and 24, so we, we posture ourselves defensively and then here come the lows of April 2nd or April 8th and we started to, uh, we had our laundry list of our top 10 favorite names and we started to buy.And we only got about 20% full until uh until the market just ran right back up. And since that time, and I'd say right now we've, we're back to being more defensive. In fact, we've sold some of those growth year positions that probably did better than they should have. So here we are back to where we started the year. And so

Sandy, this is effectively a valuation sort of positioning or stance versus a fundamental or, you know, kind of where we are policy wise stance.

Yeah, I mean, it's amazing. There's just so much uncertainty with the, with the tariffs and everything else, but we still go back to evaluation and we look again, right where we were at the end of 2024, you know, you're trading in multiples that are really, um, you know, I think we've traded here about 3 times like in the, in, in recent history, you know, if you go back.Um, to, uh, you know, I can go back to March of 2000 when the market, uh, peaked and then probably 2021, you know, before the market really had a tough 2022. So, um, yeah, I'd say it's valuation and we're just not seeing those growthier names that, uh, that we wanna buy at these prices. Now in April, you had that opportunity to buy, uh, anything you wanted to, you know, as the NASDAQ went off uh 20%, you know, basically year to date and the S&P was down.You know, basically 1617, and here we are flat on the year. So we're, we're, we're, we're back to being defensive again.

So Sandy, when you're looking for opportunities right now, what are you looking for? What, what's on your screen?

Yeah, we always like companies that just dominate their niche, you know, and so we have a handful of companies that might be exposed to the consumer and they've just done a great job, you know, and I'm not talking about over the last year or 2 years, but over the last 10 years. And so if we can see, um, if we can see some, you know, breaks on the market and, and opportunities, then we wanna buy those companies that are cheap relative to growth and, and truly dominate the particular niche.

So let's talk about one of those companies because it also recently came out with numbers. I'm talking about on um the uh running shoe company, um, and you know there is some tariff discussion around this one. So how are you thinking about that with regards to this holding?

Yeah, we, we looked at it, uh, hard. We've owned it, uh, basically since it IPOed and kind of, uh, you know, beginning of 2021, and it's been a, it's been a great performer. It's a, a really fast growing brand. Uh, my kids are in college and whenever I go to any college town, it seems like every other child has a, a pair of on shoes. Um, they get most of their supply, uh, from Vietnam, about 80%.Um, it's about 12 different production sites, maybe, um, uh, there. So we felt like they were gonna be OK, but there was a period there where terrorists were everywhere, not only China, but, uh, Vietnam as well. Maybe that's gonna be a 10% tariff, but they just reported.You know, really good numbers. I was 9% above where it should be, and, uh, these guys are gonna grow earnings at 25% over the next 3 years. Uh, stock did well today. I think that could have been on a UBS upgrade to about $75 a share, um, and maybe some of the noise from, uh, the Dick's Foot Locker take out where on is in about a third of Foot Locker's 2400 stores, uh.But they're in most of their higher performing stores. So we still like the wholesale model and we love the direct to consumer with higher margins, and they're getting into apparel, uh, now at about 100 stores. So, uh, the brand is continuing to grow, and I feel like we're still in the very early innings of a, a really dominant company.

Howabout Sandy? What about pool, which is the largest supplier, I think of, of swimming pool related products. Why, why is that one to buy?

Yeah, and back to my point about just buying dominant companies. These guys are 50 times as large as their second closest competitor. So, we've been involved with this one literally since the late 90s, if, if people believe that. Uh and umYou know they've got about 2/3 of their uh exposure to repair and maintenance of swimming pools and just a third, uh, to new pool construction and remodeling and things like that. So it is true that new pools have gone from 70 to 75,000 down to about $60,000. So that part of the business is weak. And when you look back to COVID highs, I'd say, um, this, this company was earning over $18 a share. They're gonna be at about $12.20 cents for 2026. So earnings have come down, but still a very dominant company, and this is kind of an opportunity to buy when just a small part of their business is exposed to the consumer and the rest is just putting chlorine in your swimming pool and, and just again repair and maintenance that that people rarely fill in their pools or let them turn green or black. They keep pouring in those chemicals into the, into their pools and that delivers earnings.

Ahead of summer swimming season, Sandy, thank you so much. I appreciate it.

Thanks Julie.

Well, Dick Sporting Goods is agreeing to buy Foot Locker and a $2.4 billion deal aimed at expanding international reach and boosting Foot Locker's digital presence. Joining us now for more, Sam Poser Williams trading, equity analyst. We always love to talk to about the footwear industry.And the retail industry. Sam, it's great to have you here. Um, and it feels like a lot of folks in your industry have been sort of scratching their heads about this deal, at least from the Dick's perspective. It seems like Foot Locker investors are are pretty overjoyed here. How are you thinking about it?

Well, I think that the Foot Locker investors have a good reason to be overjoyed. I think thatI mean, I put a note out. I, I think that I think that they fix is making a lot of focus on their expertise and product. The problem is they have a very different consumer base and a different model that a different model for their business that um.That that I don't, that is very hard if you're running big box sporting goods to all of a sudden shift to athletic specialty even if there are some similarities to the product being sold.

Is that why Sam Dicks got hammered here today? I mean, it was down 15%. Is that, is that the worry for investors?

I would think so. I mean, well, first of all, I mean, we haven't seen a whole, I mean, one of the questions that kept getting asked is how many of these big retail acquisitions have we seen work in years, and the answer is not very many, if any.Um, one of my clients said, you know, how close to zero do you want me to go? Um, that's one, that's, but that has nothing to do with these individual companies. But, but the issue here is that not only is, I think it is the transition, I don't, I think they're going to have trouble doing what they want to do for Foot Locker, but if, if we assume that Ed Stack and Lauren in Hobart, the principals that are going to have to spend some of their time.Right, you know, turning around.Foot Locker, then you've got a problem.Because they're going to take their eyes off the exporting goods a little bit, and that business has been great, so.I'm not so sure they can fix the exporting goods, but if you, if you take a little bit of focus off the Mothership, I think you've got a bigger problem there too. So, and I think there's some version of that sort of floating around.

What do you think? So what needs to be fixed at Foot Locker? We know it's sort of been struggling here, um, and what would be sort of the best case scenario, at least for that as an operating entity under a DIX?

Well,I mean,their stores are looking better, but their execution still lags everybody else if it's, you know, how good their, you know, their e-commerce business is to how well you get treated consistently in the stores, how long it takes for something to be delivered. I think that, you know, if you look at, you know, they'vePart of, I believe the Locker's problem has been that they have had aThey have the core Foot Locker business. They have Champs, which is sort of a combination of, of performance and more moderate prices, and then they have WSS, which is an off mall moderate Hispanic retailer, and they're dealing with three totally different consumers there.And, and, and.And so I think, you know, maybe editing down the, you know, getting more tuning up the focus, that would potentially help. um, but then, but then, you know, Dick's still, you know, Dick is going to be distracted trying to learn how to run athletic specialty.So that's a, that's, that's gonna be a challenge for them. I mean, on the dick side, you could, you might be able to fix Foot Locker. I think it's gonna take a lot of work. Um, they've been trying to fix it for a few years and, and, and it doesn't seem to be getting much better.Uh, and I also, as I wrote in my note, I, I think that um a lot of the real, a lot of the really strong merchants that Foot Locker has had are not there anymore.Which means that, you know, and and and and Dick called out what he, the strength of the team.But it's hard to know, you know, who, who or how many of the team are going to be there, you know, once this deal closes.What if they're not there, who they can replace.

Sam, what are the odds of regulatory challenges here from the FTC to this deal in your opinion?

Really not my expertise. It certainly is a question that continues to come up.Uh, but I, um.I, I don't know, uh, I don't know, you know, JD was able to roll uphibit.Um, uh, DTLR finish line and shoe palace, so, and that's a pretty large piece of the pie. So I, I'm not really sure, and my guess is they probablyDid a little due diligence on that prior to announcing this deal.

Um, Sam, I want to turn to a very different kind of footwear before we let you go. Um, Boots, cowboy boots, specifically Boot Barn also reported, uh, the shares up 17% today, um, as those results were better than expected or better than feared, I guess. Um, talk to us about Boot Barn, I mean, and how much maybe how they've been doing as a function of.Maybe a little bit of a resurgence of demand for styles like, like they sell.

Well, I think there's certainly been a Western, there's been a Western trend that's, that's worked, that's been working quite well. I also think they own their business and they're getting, you know, continue to get more focused, and then I think the stock probably moved today because not only were things better, but people were really fearful that they had just an overcommitment to China for sourcing and and they talked out, they talked that down a lot on the earnings pole, so.Um, you know, I think that that had a lot to do with the move today, but I mean, they also own their category and they're an exceptionally good, you know, probably the best growth story for retail right now. So, you know, when people realize that they're the headwinds because of the tariffs wouldn't be quite as great as what was originally anticipated, that probably sent the stock flying as it did.

Sam, always good to have you on the show. Thank you for your time, sir.

Thanks for having me. Thanks so much.

Coming up, we're going live to the NASDAQ as Brian Sai catches up with the CEO of eToro to discuss the company's IPO debut and what comes next after going public. Stick around, much more market domination over time. That's coming up.

All right. Welcome back to Yahoo Finance. I'm Yahoo Finance executive editor Brian Sai. We're hanging here at the NASDAQ right in the middle of the action in Times Square. All eyes remain on eToro, uh, the popular trading platform debut to, uh, I would say a very strong response yesterday. Still seeing a lot of appetite today. Joining me now is Yoni Asia E Toro, CEO.Founder, good to see you in person for a change. Congrats on the listing.

Thank you very much. Very exciting

day. You know what's wild. I was talking to you off camera. Did your dad list a company at theNasdaq?

Yes, it's the first ever where you have a father and son's list, so he listed his company on Nasdaq as the first software company out of Israel in 1991.

Can you believe that that's gotta blow your mind a littlebit.

Well, it's really amazing. You raised back then $10 million in an IPO,

uh, and you raised what,$310 million?

It's actually the total raise of gluing secondary is about 720.

Wow, that is, uh, that's quite the response. So as I mentioned, I mean, the stock popped on debut day. I mean, do you see this as a sign of renewed investor appetite or is it something specific to what you do?

Well, I do think obviously markets have come a long way since Liberation Day, right? That's not related to only Toro, but we've seen a lot of great engagement and feedback from investors. The roadshow for us was an amazing experience. We started with a great anchor investment of $100 billion of BlackRock, which is a very good strong signal, and generally for a trading platform, volatility in the markets is.Generally a good thing and we don't have supply chain dynamics that are impacted by tariffs. So we came into the tariffs and we felt this is like March 2020. We actually, we've seen this before where institutions go out and retail investors go in and eventually it's good for digital businesses and for our business.

How did you know that that now is the right time? I mean, it's crazy you mentioned tariffs. I know you're not selling dolls or things that Walmart's selling, but still, I mean tariffs are tariffs.

I think for us we looked at the markets. We are in capital markets 18 years. We've seen a lot of different types of market disasters from GFC to Fukushima to a lot of 2022, of course, which was a horrible year. And when we look at what's happening in the markets like our intuition was this is going to correct itself. This is actuallyAn opportunity to buy some stocks, uh, uh, cheaply, uh, which we've seen on the platform, uh, so we were confident, uh, we can, uh, uh, be the first, uh, Fintech IPO since 2021.

Didyou consider staying private for longer?

We always had the vision and dream of being listed on ASDAQ. We are a capital markets company. Our customers trade stocks from 20 different capital markets. We're passionate about crypto markets, and I always believe the next stage of growth is going to be as a public company.

Important to note, you're making money and your business.What was last year revenue increased fourfold. Is there something about your business that helped to drive that surge?

So we had a very good year in the markets. We transitioned from 2022 to 2024 to from growth at all cost strategy to profitable growth. We scaled our margins and profitability from more than $100 million in 23 to over.$300 million of profit in 2024, which was 159% growth year over year of profitability and I think generally every time the markets are very active and we can scale our business and of course also part of the business is crypto. We were very early to crypto buying Bitcoin at $5 so the fact that we had crypto as a great tailwind.And last year, which was a great

addition of crypto at $5

we bought Iitoro Bitcoin for $5. Unfortunately not enough,

right? Yeah, so so when investors look 3 months from now or whatever it is, you're going to report earnings. But if investors want to know more about eToro, should they view you first as a play on Bitcoin and the future of crypto assets?

The future of capital markets, we are in capital markets. We consider crypto a part of capital markets. You can trade stocks, derivatives, crypto, and the unique part of eToro is not only self-directed trading, but you can actually see the performance of the top investors on the platform, people who.Double digit returns with a long track record on Toro and use our unique technology to actually automatically copy them and invest in our smart portfolios as well. The real opportunity here is the global transformation of wealth from older generations to younger generations. US alone, it's $84 trillion moving to Gen Y.And Europe we are I think we both are. thanks a lot, man. I appreciate that. But it's also in Europe our biggest market is $60 trillion opportunity to help people manage their investments, their trading, their savings in a digitalnative way.

I've gotten to know your competitor and their team, Vlad over at Robinhood, and they've made a very clear point. They have wanted to expand more into asset management. They have made acquisitions. Are you going to run that Robin Hood playbook?

I think they're running my playbook. I think you know, over time, you know, we, we already are scaled globally. Robin Hood is mostly US. We are in 12 different regions including the US. We have offices in Europe, UK, Australia, Singapore, UAE, and I'm very excited about the path of growing our business now, entering into.Wealth management retirement as well in two of our markets, both Australia and the UK, we think the opportunity is very, very big to eventually become the investment apps of our youngergenerations.

In the prospectus you mentioned that potential conflicts from what's going on in Israel now. The company was founded in Israel.Are you, do you want to keep the headquarters there? You know, how does that, how do you think about risks to the business by being positioned? Toro

is a global company. Uh, we have offices in 10 different locations, and we've always managed very, very well are what's called BCP business.Continuity planning, which is a part of running a global business trading 24/7, serving customers from 75 different countries, and we will continue to scale all of our global offices as we grow.

As a founder, you founded this company or a brother. What has it been like being in Israel?Uh, trying to grow a business as fast as you've been growing with it, um, while everything has been going on in that country, it has to mean a lot to you and you have to, of course take itvery personally.

So I, I, I think generally like the start of tech community in Israel really wanted to show how.Resilient we are and how much we're supportive of our people, of our employees we also have an office in the Ukraine where we always help our employees in any scenario and I think the tech community sort of came in both.Made sure that they're helping the cause along the year but also showing the markets that we're resilient that we will continue to grow and focus on our business to do what we can do to support theeconomy.

Well, heck of a story. I'm looking forward to continuing to follow it and yes, I guess Robin Hood is running your playbook. I Toro, CEO and co-founder Yoni Asia, congratulations. We'll talk thank you very much. All right, Josh, Julie, back to you.

Time now for to watch Friday, May 16th, sponsored by Tasty Trade. We'll start off on the economy because we're going to be getting another read on the consumer in the morning with May's consumer sentiment data. Economists expecting that number to rise to 53.4%, marking the first increase since December, but still remaining historically low.

Staying with tomorrow's consumer sentiment, print, economists see forward-looking inflation expectations staying put compared to the previous reading, signaling that consumers still see inflation.Elevated in the coming years

and moving over to housing, monthly housing starts and building permits data coming out in the morning. Housing starts expected to increase to 1.36 million while building permits decline to 1.45 million, meaning more homes are actually breaking ground, but fewer new projects are getting approved. This is coming after mortgage rate data from Freddie Mac today. 30 year fixed rising to 6.81%. All theData giving us more insight into that sluggish housing market.

Also, what to watch tomorrow? New Jersey transit strike. That's right, very local, very local and specialized news exactly. All right, that'll do it for today's market domination overtime. Be sure to come back tomorrow at 3 p.m. Eastern for all of your coverage leading up to and after the closing bell. But

don'tgo anywhere on the other side of the break, it is asking for a trend. Got you covered for the next half hour with the latest and greatest market moving stories so you can get ahead of the themes affecting.