Trump Trade, Salesforce Earnings Preview & Buy Nike Stock – Free Lunch – Zacks.com

On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into President Trump’s latest U.S.-China trade war comments that sent stocks tumbling. We then preview both Salesforce (CRM Free Report) and Workday (WDAY Free Report) earnings. And the episode closes with a look at why Nike (NKE Free Report) is a Zacks Rank #1 (Strong Buy) stock right now.

All three major U.S. indexes fell for the second day in a row Tuesday, with all 30 Dow components down at one point during morning trading. The downturn puts the blue-chip index on pace for its biggest one-day fall since early October. This came after President Trump seemed to completely reverse course on the recent U.S.-China war progress that helped push stocks to new highs in November.

Tuesday’s trade setback came after Trump said on Monday that the U.S. would restore tariffs on steel and aluminum imports from Brazil and Argentina. Plus, the Trump administration proposed tariffs on French imports as retaliation for France’s digital-services tax, which impacts U.S. tech companies such as Apple (AAPL Free Report) and Google (GOOGL Free Report) .

In company-related news, Salesforce, which has lagged the broader tech market in 2019, reports its quarterly results after the closing bell Tuesday. Fellow enterprise cloud application firm Workday is also set to report today.

The episode then closes with why Nike stock looks like it might be worth buying even as it competes against Adidas (ADDYY Free Report) and up-and-comer Lululemon (LULU Free Report) .  

7 Best Stocks for the Next 30 Days

Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”

Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.6% per year. So be sure to give these hand-picked 7 your immediate attention.

See 7 handpicked stocks now >>


Leave a Reply