The exceptional retail sales figures that were released last week has caused a substantial rally in the Dow and S&P as both are at or approaching their recent highs.
- Tilray Inc (TRLY) was up 15.79% after a positive mention on CNBC
- TME was up 9.07% as Chinese stocks outperformed the market
- VIPS was up 8.47% as Chinese stocks outperformed the market
- BABA was up 6.10% as Chinese stocks outperformed the market
Stocks to watch:
Yum! Brands Inc (YUM)
Yum! Brands beat earnings and revenue expectations during the previous earnings report that was released back in July, with the last quarter’s earnings report due to be released a significant decline in the price indicates that the fast-food brand may very well be gearing up for a substantial rally.
Inflationary pressure, as well as the holiday season, should be crucial factors to watch in the retail and restaurant sector over the coming months.
Technically there was a strong breakthrough of the falling trend line indicating that there could be a possible continuation as a previous high was held as support. Currently, the price is holding the 50EMA with no clear momentum just yet a clear daily close above $127 should carry through the momentum.