On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into the escalating trade war between the U.S. and China that turned into a currency fight Monday. The shows then moves onto Amazon’s AMZN recent woes, Take-Two Interactive’s TTWO major surge, and much more, including a Disney DIS earnings preview.
The Dow and the S&P 500 suffered major downturns Monday after President Trump called China a currency manipulator. The Chinese yuan fell as much as 1.9% to a record offshore low. The U.S. Treasury also labeled China a currency manipulator for the first time in over 20 years. In retaliation, Beijing announced that Chinese companies will suspend U.S. agricultural purchases.
The heightened trade war worries, amid overall global economic uncertainty, could see the Federal Reserve consider more interest rate cuts this year. Meanwhile, Amazon stock has faced its worse downturn in more than a decade over the last week-plus.
Tuesday also saw Take-Two Interactive TTWO stock soar nearly 10% after the video game maker impressed Wall Street, even as tech giants such as Google GOOGL are set to enter the quickly growing gaming market.
All eyes on Wall Street will then turn to Disney DIS after the closing bell, with the company set to report its Q3 fiscal 2019 financial results. But more than its results, investors need to watch for any updates on Disney’s streaming TV push as it prepares to challenge Netflix NFLX, Amazon AMZN, Apple AAPL, and others.
The episode then closes with a look at why cybersecurity firm Fortinet, Inc. FTNT is a new Zacks Rank #1 (Strong Buy) stock.
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Fortinet, Inc. (FTNT) : Free Stock Analysis Report
The Walt Disney Company (DIS) : Free Stock Analysis Report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Take-Two Interactive Software, Inc. (TTWO) : Free Stock Analysis Report
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