Why we like Starbucks’ latest turnaround move
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Stocks were mixed as Treasury yields surged, increasing expectations for a Federal Reserve rate hike.
- Potential U.S.-Iran deal on the Strait of Hormuz and news regarding Boeing offered market optimism.
- Starbucks will close about 250 underperforming North American cafes, impacting its store opening forecast and incurring restructuring charges.
- Eli Lilly's once-weekly insulin, Onswik, received FDA approval for type 2 diabetes, competing with Novo Nordisk.
- Costco is set to report earnings, with focus on membership metrics and margins.
- The final September reading of the University of Michigan's consumer sentiment survey is anticipated.