Stay focused, the market is on fire.
The Rally
The bottom line is that the market’s rally is increasingly looking rather healthy. The Philadelphia Semiconductor Index, known as the SOX Index, is finally rallying again. For many, the SOX is a key leadership group. Couple that with improving market breadth, and investors have good reason to be encouraged on stocks heading into September.
Welcome Back, PSL
The Starbucks pumpkin spice latte makes its grand return early on Tuesday. Investors need to closely watch how this drink performs. Sales of Starbucks frappe sugar bombs have been on the decline as consumers gravitate to healthier drink options (see black cold brew coffee, for example) and grab up promotional deals at rivals like McDonald’s and Dunkin’ Donuts.
If the #PSL lags this year, big red flag for Starbucks as this is the company’s franchise flavor.
Around TheStreet
I had a nice chat Monday afternoon with Dana CEO Jim Kamsickas. The 115-year old axle and auto parts maker is trying to reinvent itself, acquiring a platform recently to expand into electric vehicle axles. Kamsickas tells me the new U.S. trade deal with Mexico is a big deal.
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