Beat the Street: markets stabilise, but Middle East tensions weigh; PepsiCo; retail rush
Caution prevails as markets and oil stabilise, while US treasury yields retreat. PepsiCo raises its targets again. Plus, find out why retailers including Amazon, Walmart and Target are dangling deals at shoppers early.
(Video Transcript Summary)
Market volatility stabilises despite Middle East tensions
In this video, Angeline Ong gives us the latest trading news before the Wall Street market opens. She talks about some key events that are happening around the world and how they might affect the market.
First, Ong mentions that there is still tension in the Middle East, particularly with the situation in Gaza. However, she notes that markets are starting to stabilise, which means that things are becoming more balanced and not as unpredictable. For example, she talks about how major airlines have suspended flights to and from Israel due to these tensions.
PepsiCo raises third profit forecast in 2023
Next, Ong brings up some interesting updates on companies. PepsiCo, a popular beverage company, is doing really well because people are demanding their products. This is good news for investors in PepsiCo, as the company has raised its profit forecast for the third time this year.
Ong also mentions some big names in retail, like Amazon, Walmart and Target, who have already started offering discounts for the upcoming holiday season. This means consumers can get good deals, while it also shows that these companies are trying to boost their sales early on.
Strike at GM Canada could impact economy
Towards the end of the video, Ong talks about a strike that happened at General Motors Canada, where thousands of workers went on strike. This could have an impact on the economy, as it puts pressure on the automaker and could affect the gross domestic product (GDP) numbers of the United States.
Ong says the market is cautiously moving forward, despite ongoing tensions in the Middle East. It's important for traders to keep an eye on these events, as they could potentially affect their investments.
If you're new to trading, this video gives you a snapshot of what's currently happening in the market. It's all about analysing the news and understanding how different events can impact the trading world.
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