Dollar General beats☕ Stocks advance📈 To Watch: Powell💼 Chinese ADRs📊 PCE🔍

FlowBank's hand-curated fresh financial news [header_noDither] 26.08.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Dollar General main] Dollar General (DG) topped earnings estimates and lifted its annual sales forecast, encouraged by Americans flocking to discount store chains in the face of higher inflation. The discounter also boosted its share buyback plan by USD2 billion. The stock is up 4.5% this year. [Start Trading](113/cXx8Z04/VW7MkG7JWZPrW3xTmgl5LWf2-W35KrPN4P9clXN1KM5sN2-MK5V1-WJV7CgGjxW8XMMJJ7ZX6NwW4fXwmK5LXhcdW2NlPFg5VFdgWW6JDkTP7q_rPHVhhvBT97sMMlW18SW-X5wQwz9W4qQvfy96WH7vW4qZm0p4ylc3bVzl7pf7gNCS5W4TzDz65qLRp6W9c-fWN3XXr23W1Y0QgJ2rJsB4W1cBv6Q2ZkvdyW6MfJqc7_j_WvW5z21YL6XjFqLW6n0xcL39rS05W75psw85LYM14W6HMMmD3cyWX7W7knzXB8QGpWyW1rZkpB3WpYJ83bX71) Trader's Corner In focus • During Jerome Powell's Jackson Hole speech, markets will be watching for any indication of whether an economic slowdown might alter the Fed's stance or whether it will be a fight against inflation at all costs. • The Fed's favorite inflation gauge, the PCE, could steal the show from Powell today should it top forecasts. Analysts see it to have increased by 4.7% YoY in July. The dollar and stocks will be in focus. • Chinese ADRs saw a spike after a report the US is near a deal for audits of Chinese firms. Alibaba (+8%), JD.com (+9%), and Pinduoduo (+12%) were among the notable gainers. Economic data • US PCE price index, retail inventories, Michigan consumer expectations • Germany GfK consumer climate Earnings • Meituan, Marvell • Dell, HP, Ubiquiti Crypto • Bitcoin prices could be near the consolidation phase. Crypto traders and investors will be paying close attention to today's PCE price index and a speech from Fed Chair Jerome Powell. • Ethereum blockchain is slated for one of the biggest updates since its inception, and on-exchange whale addresses have reportedly seen a 78% increase over the past three months, which is mostly bearish. [Screenshot 2022-08-26 at 07.18.36] [Start Trading](113/cXx8Z04/VW7MkG7JWZPrW3xTmgl5LWf2-W35KrPN4P9clXN1KM5sN2-MK5V1-WJV7CgPkQW5xd8xn38-rCQW3c3HPM7Thql_N971gVL1YVhnW91RV3R699N57VQLt0Z2GMVWVW26500q76RS38W84xxGd3p678fW2crJLs6DbhctW2vCW6T5tvN5zN1v0kgtvt-vHW4F3m1T2hLJDdN6ZGKxtC7JzhW8_2z-C4YTfFYN9ld4ZsR2LWDVxZg3N4yHXC5W7l_wX96L9m7ZW1NN8Y51rCjZKW2nQdS33xQwGqW4lnT705sDrQHVfG1Gb8qbKyd3dMN1) Market Recap US stocks rose toward the close, led by cyclical and growth sectors. Earlier in the day data showed US GDP contracted at a more moderate pace than initially thought and employment remained solid. A drop in 10-year yields also helped support Thursday's buying. The dollar was steady, with EURUSD remaining near parity. Meanwhile, oil prices retreated on profit-taking signs. There was no news indicating a change in fundamentals. Oil stocks (XLE, +0.8%) closed slightly higher. This morning, markets are steady ahead of Powell's speech at 10 am local time at Jackson Hole, where he is expected to restate the Fed's resolve to keep hiking rates. WTI is retreating to around USD93pb. Chart Of The Day US GDP revisions were slightly better than expected, and the big surprise was the strength of Initial claims, which came in better than expected and at the lowest level in a month, a sign employers are holding on to employees despite economic uncertainties. [asd-3](113/cXx8Z04/VW7MkG7JWZPrW3xTmgl5LWf2-W35KrPN4P9clXN1KM5st2-MJQV1-WJV7CgDjnN1qdW3h6rMqgW2JqqBv6RBwptW3y5tW2778HYhW44Lzbv602BKpN6mQhtxs2FhPW63wyQ01nwNGhVFHqDW8dHN88W1CNlvX7gCLs-W2361Vx5P4BsTW5S36rz2V2r0vW1Sbh8J2RdfFKW56kB4l97TH7mW6JtbpN41ZvR-W2JPrK72W8M4zW59zh_17WX0SnW51_Q5j2Wck4yW2Kx8R-8RyY0xW5NqWj358F9sT32gM1) FlowBank Blog Are meme stocks back? [Reddit WSB](113/cXx8Z04/VW7MkG7JWZPrW3xTmgl5LWf2-W35KrPN4P9clXN1KM5sN2-MK5V1-WJV7CgKBnW68T-Mb16Ffj7V4-tVs8B1nXfMv0mZ8ky4yGW5DjjF233yNmwV1y9Qs2f4mD3W6pRQzJ7f1dCkW3BRfP_7CG4JzW92mmJq2srb2ZW75jljx65tzbTW62Gx_03SNqkcW3c5XWq5l9Mb0W3Vh-582PptjJW48GBrz2ldXFXW143S1g5N6d_mW1j0w8j8Ptq3ZW4k--RF20cyBXW4ppF924nZ18HW541Zkv8ycH59W84fCDJ2bw_LRN8hq_C0WJhc83mCM1) The meme stock phenomenon is visible again this year, with many “hyped” stocks with shaky fundamentals defying gravity. Are meme stocks back, and what could this tell us about recent retail participation in the stock market? 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