BBBY - Get Out Before Its Too Late 📉
Jun 6th 2023, 3:04 am
|The Street Brief
Bed Bath & Beyond Is In Trouble
- The US home goods retailer Bed Bath & Beyond has warned that there is serious worry about its capacity to operate as a going concern, increasing the possibility of one of the greatest retail bankruptcies in the US since the pandemic's beginning.
- Due to a lack of funds, Bed Bath & Beyond is considering filing for bankruptcy. In 2022, short sellers made a lot of money. $BBBY fell after issuing a warning that it would not be able to continue operating as a profitable company.
- $BBBY shares continue their downward trajectory in pre-market trading sessions.
Source: Yahoo Finance
The Consumer Electronics Show, the most prominent tech exhibition on earth, has more than 170,000 attendees and is currently in full swing. With so many people looking for future advancements, the technology on display at the exhibition will likely catch on with the general public, according to the over 3,200 exhibitors.
Source: Yahoo Finance
Labor Market Remains Strong
- Investors' concerns that a robust labor market would put the FED in a mode of rate hikes caused US stocks to decline.
- The market may be significantly affected by today's jobs report for December. Investors will keep an eye out for significant shifts in employment and pay.
- The FED is attempting to prevent inflation, which increased salaries may indicate. 200,000 fewer jobs are anticipated to be added than in November. The study might influence the FED's upcoming decisions and the possibility of a recession.
Samsung's Profits Falls
- The leading manufacturer of memory chips, smartphones, and TVs in the world claimed that consumers were depleting their stockpiles and that the reduction in demand and price for its chips were higher than anticipated.
- According to preliminary data, Samsung Electronics' operating profit dropped by about 70% in the fourth quarter to an eight-year low; This demonstrates how a weakening global economy is stifling demand for semiconductors and electronics products.
- An exceptionally warm January is predicted for Europe, which will help to alleviate the continent's ongoing energy problem. Up until the end of the month, temperatures are predicted to be friendly, providing the area with a much-needed reprieve.
- Analysts and traders claim China is altering its RMB strategies, moving away from overt, direct involvement and toward covert, indirect techniques to influence the market.
- As Taipei intensifies its efforts to prepare itself against a potential Chinese invasion, it is wooing investors to help it develop its own satellite communications service, inspired by the role Elon Musk's Starlink has played in the conflict in Ukraine.
- EU Inflation fell more than expected: The French central bank governor said that the monetary tightening campaign would end by the summer to flight inflation (9.2%), but he did not specify how much higher interest rates should go from the current rate of 2%. The financial markets predict interest rates in the eurozone to reach a peak of about 3.5%.
Source: Trading Economics