7 May Watchlist ๐Ÿ‘€

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Today we are watching…

1. BlackRockย (#blckrck)

Larry Fink is the CEO of BlackRock, one of Wall Streetโ€™s huge asset managers. He went on tele yesterday to talk about how the stock market was disconnected from reality. He sees more pain ahead, and he canโ€™t understand why stocks continue to climb. โ€œBankers have told me to expect a cascade of bankruptcies to hit the America economy.โ€ Fink has been advising the president on economic matters and believes the Federal Reserve should jump in with even more stimulus to stabilize markets. If more is done, however, Fink reckons corporate tax will need to jump from 21% to 27% next year. Thatโ€™s massive, and stocks wouldnโ€™t like it!

2. Peloton Interactive (#pton)

Investors were wincing as Peloton revealed its first-quarter financial results yesterday, but it didnโ€™t turn out that bad. The companyโ€™s officially coronavirus-proof. Shares rose 4% as the firmโ€™s revenue rocketed 66%, and paid digital subscribers went up 64%. These numbers could carry the home fitness machine brand for the rest of the year, but itโ€™s looking like the second quarter will deliver for them as well. Donโ€™t forget that stock prices are forward-looking. It doesnโ€™t matter how good things are today. All eyes are turning to unlocking the lockdown, and how many quarantined customers will stay loyal when real gyms reopen.ย 

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