Stocks resilient as inflation rises, retail sales dip
Bad news, what bad news? Stocks are rallying in the face of rising rates, rising inflation, and falling retail sales. Plus, Cisco, Tripadvisor earnings come after the bell. We’ll have them for you. And, Sam’s Club is taking a page from Amazon’s playbook with a new membership perk. We explain. Plus, it’s a nice day for bitcoin. We discuss why Coinbase’s new merchant plan is a big deal. Catch The Final Round at 3:55 ET p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.
Winners and losers
Stocks in the red include Occidental Petroleum as quarterly profit figures disappointed investors; Avis Budget Group as Goldman downgraded it to Sell with a $33.00 price target; and Groupon, with shares dropping as the coupon deals site missed on earnings for the quarter.
Stocks in the green include Western Union as Bloomberg reports it’s testing payment with the cryptocurrency Ripple; Baidu as the Chinese search giant beat on both the top and bottom line, despite coming under heavy competition from Alibaba; and Chipotle, with shares getting a lift as the fast casual Mexican chain named Taco Bell CEO Brian Niccol as its new chief executive.
