The denim maker Levi Strauss & Co (NYSE: LEVI) reported better-than-expected last quarter financial results. The company expects the net revenue will increase 24 to 25 percent in the first half of fiscal 2021.
The Commission’s economic sentiment indicator for the 19 countries sharing the euro rose to 105.1 in May from 103.9 in April, beating market expectations of no change.
Services sentiment improved to 12.2 from 11.8, beating expectations of a decline to 11.0 and the mood in industry defied expectations of no change to rise to -2.9 from -4.3. The index for consumers rose to the expected -6.5 from -7.3.
But separately, the Commission’s business climate indicator, which helps point to the phase of the business cycle, continued to fall, declining to 0.30 in May from 0.42 in April, well below market expectations of a decline to 0.40.
DAX reacted negatively on this news with the correlation of S&P 500. The market is now moving by the bottom (support) trendline and if we saw a breakdown, there would be a big probability of bigger price drop.
This market news has only informative purpose and can not be consider as investing advice. While you trading, we recommend you to keep tight your money and risk management.
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“Years of preparation and focus have positioned us as the Internet’s preeminent neighbourhood pet store and a leading pure-play e-commerce company in the pet space.” Chewy CEO, Sumit Singh said.
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