Closing out the week the stock market saw a second straight day of falling prices. The Dow Jones fell 0.75% to close at 29,263.48. The NASDAQ fell 0.42% to close at 11,854.97 and the S&P 500 fell 0.68% to close at 3,557.54. On the other hand, STOXX Europe saw an increase today of 0.45% to close at 389.35.
With the pandemic continuing on as we close out the year and no end in sight for the beginning of the next, it looks like there are a few companies that could be coming out on top. In fact, there are three growth stocks that are recommended for the 2021 year by many investors. Adobe Inc., Pinterest, Inc. and Peloton Interactive, Inc. seem to be poised to continue their upward trajectory. With all of the benefits that all three have to offer for those who are stuck at home this year, they just might be what you want to jump on.
It looks like Target is outperforming their market and their expectations, but can this continue? Analysts aren’t sure, but people are definitely starting to wonder about the stock that offers some pretty great digital options with the current crisis. While their digital experience wasn’t quite as high class previously, they’ve started to step up their game to compete with Walmart and Amazon. But in store they’re still competing with Macy’s, Kohl’s and more.
“There is little room for debate that Target is a brand that has been able to define success during (the pandemic) and the new normal by tripling digital sales year over year,” San Emeterio, CEO of BallStreet Trading explains. “Amazon is still the thousand-pound gorilla in the room, but Target just proved they are here to stay and will contend in a very competitive digital space.”
On the other hand, Brian Yarbrough from Edward Jones has a different view, that might call for a bit more caution, “The company’s online sales are not as profitable as sales in physical stores due to the cost for shipping goods. We believe these competitive issues will pressure profit margins,”
West Texas Intermediate saw an increase of 0.98% today to bring crude oil to $42.15 per barrel. Gold prices also saw an increase today, coming in up 0.21% to close at $1,870.95 per ounce. The treasury yield finished down yet again to close out the week, falling to 0.83 for 10 year yield and 1.53 for the 30 year yield.