Quick Wins Even While the Market Struggles? Yes please.
Before we get into today’s market talk…
I’ve had a Christmas song stuck in my head all morning — and it’s all Amazon’s fault.
See, today Amazon dropped the news that they’re getting into same-day grocery delivery — and suddenly I’m humming this to the tune of “Here Comes Santa Claus”:
“Here comes Amazon, here comes Amazon, right down grocer’s lane…”
The market heard the news loud and clear…
With Kroger (KR), DoorDash (DASH), and Instacart (CART) all sliding on the news.
Walmart (WMT) dipped too, but I doubt it’ll hurt them much in the long run — they’ve got enough muscle to handle the extra competition.
But the other companies… If Amazon gets traction here, they could feel some real pain.
We’ll have to see how this goes.
In Other News…
Meanwhile, crude is down today after the EIA Petroleum Status Report and news that the U.S. will meet with Putin on Friday.
That’s not exactly a combo that screams “oil rally.”
And here’s something else worth watching — it looks like we’re seeing a sector rotation.
The Russell 2000 (IWM) is up, while the Nasdaq (QQQ) is down.
If we really do get cheaper interest rates next month, small caps might start closing the gap on the big tech names — and that’s a shift worth keeping on your radar.
Lots moving right now… but Amazon’s the big one today.
Stay sharp,
— Geof
