economy
Arm shares extend weekly rally to almost 50%, and Starbucks pulls the plug on an AI project
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- The S&P 500 is nearing 7,500 and the Dow Jones Industrial Average is above 50,000.
- Arm Holdings has gained almost 50% this week, prompting a decision to trim the position and rebalance the portfolio.
- Starbucks has ended an AI program for inventory due to excessive errors, but its cost savings target remains.
- Upcoming earnings reports include Costco, Dick's Sporting Goods, Best Buy, Gap, Burlington, American Eagle Outfitters, Marvell Technology, Dell Technologies, Salesforce, Synopsys, Snowflake, Zscaler, Okta, CrowdStrike, and Palo Alto Networks.
- Key economic data releases next week include consumer confidence, the PCE index, durable goods orders, Q1 GDP, and new home sales.