We're adding two new stocks to our Bullpen watchlist
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
The stock market experienced a downturn on Thursday, with the S&P 500 and Nasdaq falling due to continued pressure from bonds and oil prices. The CNBC Investing Club is adding BNY, a trust bank focused on financial asset servicing, and Cadence Design Systems, a provider of electronic design automation software, to its Bullpen watchlist. Investors will also be watching earnings reports from Ross Stores and BJ’s Wholesale, alongside manufacturing and services PMI data.
- Stocks were lower on Thursday, with the S&P 500 down 0.5% and the Nasdaq down 1%.
- Bonds and oil prices are weighing on the market; oil climbed about 2% due to threats of sanctions against Iran.
- BNY, formerly Bank of New York Mellon, is being added to the Bullpen watchlist as it is the world’s largest custodian and collateral manager.
- Cadence Design Systems, known for its electronic design automation software, is also being added to the watchlist.
- TJX Companies’ competitor Ross Stores is set to report earnings, with focus on same-store sales performance.
- Upcoming economic data includes S&P Global US Manufacturing and Services PMI.
Write a comment