Market Domination will bring the Yahoo Finance community into that action-packed last hour of trading where wild swings in markets are the norm and access to big interviews are a regular occurrence. The final hour of trading is told like every day is game day, and every decision and every move matters.
The Federal Reserve is poised to start cutting rates, taking one element of uncertainty out of the market. But there's one big thing that could shake up Wall Street: the 2024 election. With many Wall Street bullish on stocks, could the election throw a wrench into things? Innovator Capital Management head of research & investment strategy Tim Urbanowicz and BofA Securities chief equity technical strategist Stephen Suttmeier joined the show to give insight into the upcoming presidential election and the potential impacts it could have on the market. Warren Buffett's Berkshire Hathaway (BRK-A, BRK-B) rose above $1 trillion in market value, becoming the first US company outside of the tech sector to do so. The company trimmed its stake in Apple (AAPL)by over 50% at the beginning of August as well as Bank of America (BAC), dumping about 9 million shares. Berkshire Hathaway shareholder and Scharf Investments managing director Eric Lynch joined the show to give insight on the trading patterns from Berkshire. Casino stocks— Caesars (CZR), MGM Resorts (MGM), Wynn Resorts (WYNN), and more — are under pressure as the Nevada Gaming Control Board reported a 15% decrease in betting revenue on the Las Vegas Strip. For more expert insight and the latest market action, click here
Warren Buffett's Berkshire Hathaway (BRK-B, BRK-A) trimmed its stake in Apple (AAPL) by over 50% at the beginning of August. Berkshire Hathaway shareholder and Scharf Investments managing director Eric Lynch joins Market Domination to discuss the move and what the firm may do with the cash. Lynch explains that consumers and investors shouldn't be concerned about the move. Rather, he sees it as a testament to Buffett's commitment to having a margin of safety: "Look, it's a great company, but he bought it in 2016 at 10 times earnings. He's cut it over half when it's been trading above 30 times earnings. It hasn't moved its sales and its operating income level on the aggregate in almost three years, so he's worried about the margin of safety there." He adds that with this new cash flow, Buffett is "finding places to play," but ultimately is "waiting for better valuation." Lynch notes that Berkshire recently bought Chubb (CB), an insurance company, explaining that insurance premiums are increasing about 10% yearly. In addition, Buffett has identified several lucrative opportunities in Japan. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl
The restaurant sector has taken a bit of a beating in the past few months as consumers have opted out of certain quick service restaurants looking for better value as many of them have raised prices. While many of the stocks in this sector have dipped, is it time to buy them back up? Stephens research Analyst Jim Salera joins Market Domination to give insight into the best ways to play the restaurant sector amidst some current dips from companies in the sector. "I think what you really have to look at when you think about restaurants is what consumer the concept is focused on. And so you have high-end consumer restaurant concepts. If you think about Sweetgreen (SG), Cava (CAVA), that have really performed exceptionally well this year and have been really strong stocks," Salera says. "And then you have others that are more focused towards middle to lower income consumers or traditional fast food or Wendy's (WEN) or McDonald's (MCD) that have seen a little bit more pressure." Salera believes "Papa John's (PZZA) is particularly attractive" because of the new CEO Todd Penegor, who came with experience from Wendy's, who has already set new goals for the company, including plans to "re-invigorate the franchisee base and get that reoriented to accelerating unit growth, and then you're also seeing a lot of new promotional offerings in the channel. That kind of couple relative value while still maintaining, a quality value prop as well." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
