One narrative heard around Wall Street Tuesday was the same one we heard on some of last week’s “down” days, that perhaps the economy has hit “peak growth” in its post-Covid-19 recovery. Early on it had come within 1% of its all-time high. Instead, most of the indices bobbed up and down around unchanged most of the day before the S&P 500 Index (SPX) settled slightly lower. While major indices weren’t able to build on Monday’s gains yesterday, it’s probably fair to say it wasn’t a true “turnaround Tuesday” where the opposite thing happens from Monday. Investors are still trying to get a sense of whether inflation is truly “transitory,” as Fed speakers have been saying, and this debate is kindling some of the back and forth in prices. Choppiness in the markets could continue, especially ahead of next Friday’s May jobs report and the Fed meeting in mid-June.

That means you might need to more carefully plan your trading for possible wider swings than usual with fewer sellers maybe around to meet buyers and vice versa.Įven after the holiday, VIX isn’t guaranteed to stay low. Volume could start to flag over the next few days as people get out of town ahead of the holiday, at least judging by how things have gone historically. Traditionally, some investors like to take protection ahead of market holidays. However, as we pointed out yesterday, it wouldn’t be all that surprising to see volatility perk up a bit ahead of the three-day weekend. The Cboe Volatility Index (VIX) fell below 19 this week, near the lowest level it’s been since Covid-19. Companies like BBY also face more competition for consumer dollars this year as people spend more time traveling or going to restaurants after a year of not getting to do those things. Bulls might be hoping for an uptick in those numbers, but keep in mind the tough year-over-year comparisons. The stock’s recovered a bit since then, but like a lot of other companies that did well in the “stay at home” economy, it faces questions about what sort of catalysts are ahead to keep the good times rolling.īBY said in February that it expects same-store sales this year will range from a drop of 2% to a gain of 1%. BBY shares got clobbered the last time it reported as the company fell short of analysts’ revenue expectations.

Nvda earning report q1 day