Cresco Labs rallies🌿 Stocks drop☔ To Watch: EURUSD🔍 Jobs👷 Earnings: Best Buy, Crowdstrike 🔒

FlowBank's hand-curated fresh financial news [header_noDither] 30.08.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Cresco] Cresco Labs (CL) gained 7% as the state of New York prepares to start recreational cannabis sales. On Thursday, the state's Office of Cannabis Management started accepting applications for the first 150 cannabis retail licenses. Cresco Labs has 51 retail locations, and that number is about to increase once its USD2 billion all-stock deal to buy Columbia Care and its 99 dispensaries is finalised. [Start Trading](113/cXx8Z04/VW5Xxq4p1DzKW8YHcz67F2-qCW3mxgk34PkP9dN7RflxJ2-MK5V1-WJV7Cg-3qW69qwsP530vN4W66mv_K320GXWW6Y-lyY1DBprdW95614h4nQpBPW7T8XQ-6qKn60W92L4zD65sHZSW5SsbZW8T1wDsW3h7QsY5v_SSfW7fcXgs3VHw4KW3Pk0YY6VFYN2W7Xj8tw2fFmlWW6-_dSW5f8kQxW2yZcKm7tVKpnVks-NW4tvpB5VrYzRv8H4qtWW52LPBM3sF0vqW303YCQ8gsgrYW30Qq5_7FX00BW2NzGYj6Wp0fgW8p_nGZ2ZBpQp3lJP1) Trader's Corner In focus • The euro rebounded on Monday, and the EURUSD could see further upside should EU business climate data come in better than forecasted. • US July job opening numbers and August US consumer confidence measures should capture investors' attention. Better readings could help the market to regain positive momentum. • Best Buy and Baidu are reporting earnings before market-open. Analysts expect the latter to report encouraging business improvement. Economic data • US JOLTs Job Openings, consumer confidence, API weekly Crude Oil stock • German, Spanish: CPI • API weekly Crude oil Earnings • Crowdstrike • Hewlett Packard (HP) • Best Buy, PVH, Baidu Crypto • Bitcoin traded in a narrow band around USD20'000. The token rose as much as 2% on Monday to USD20'412 after trading below that key round-number threshold over the weekend. • CME Group, a derivatives marketplace, went live with euro-denominated Bitcoin and Ether futures. The offerings will be sized at five Bitcoin and 50 Ether per contract. [Table 3008] [Start Trading](113/cXx8Z04/VW5Xxq4p1DzKW8YHcz67F2-qCW3mxgk34PkP9dN7RflxJ2-MK5V1-WJV7CgQf5W457hYt8LMnHtW8xMXHM8Z_3glW2BGqxv3TM8VHVHCkLX2Hg_P8W4c7bp-1d3TQDVhnwmK1KS5-7W265LlS65gfZVW3ZTm981LfqzgW1fYx1g6ZV2jkVLbSSZ6zZpHtW9bb95n5j8vr1N16qbWQFHPHGW98q53h35FQfVW3dc95F4vX0ZTW461pvW2XCkKyW54x6TB9fkTSxW6K1PgS5R8VH6N37X5dvHyR00VSRrvx91crLtVHjbyn2zR0Mr3gYy1) Market Recap Treasuries and equities continued to roll down as traders recalibrated Fed hike expectations. 2-year yields (3.43%) were steady near session highs and 10-years (3.11%) gained 7 bps. Tech stocks underperformed. In Europe, energy concerns worsened amid escalating prices of energy. French PM warned companies of gas cut. Oil continued to rise ahead of the coming winter. And the dollar's strength continued but interestingly the euro was stronger. This morning, stocks are slightly in the green, attempting to stabilise and digest the Fed's tough monetary policy outlook. Crude oil WTI is holding on to its strong gains trading at around USD97pb. Chart Of The Day European gas prices fell as much as 21% on Monday after a huge weekly gain. German gas storage is progressing ahead of target, an encouraging sign for the region that is fighting cuts in gas supplies by Russia after the gas pipelines have been halted several times. The euro jumped 0.5% on the news, above parity with the dollar. [EURUSD 29.08.2022](113/cXx8Z04/VW5Xxq4p1DzKW8YHcz67F2-qCW3mxgk34PkP9dN7Rflxp2-MJQV1-WJV7CgJRbVw8KCp3fWK5BW5y50mw72J7GHN2p1YN2N6P3YW61mtJf1VBhnNW6v4Ct98K5f0ZN2d_4HK4xM7DW25DVQd1YXTs8VpYtvz86vf3TVYry4R77-nm-W5b_0fx1ZZwLDW7Dn-YN40KD51W3lCnjl8470P4W3bVJYD5Q1tyzW4ZzHp74zXyZnW54kSpQ63ydx0W4TNYKL6Y_8n6N2GvMN0Tm24QV8Xw0y8FW3GH32db1) FlowBank Blog The streaming business boosts Disney's growth [shutterstock_1341385184](113/cXx8Z04/VW5Xxq4p1DzKW8YHcz67F2-qCW3mxgk34PkP9dN7RflxJ2-MK5V1-WJV7CgZywW4KxssJ6jnkTpW5Sy2j695whbfW7kSjRf90SNV2W71bHNH8zdkGsW1GxFcq8FxZZfW48_mRt5CQdv2N3m9V6kcQ4J9W83xDhr6mmrWJW4G17rP4_7BfxW1Q__td1dcbcmVDnQ1Q2S761cW30X-c64jPCZ6W2YszRx41601VN1n8r2HPhr17W30643994T-WyW3qdTT58drps-VdTqY11Zctn4N37p39TDqx0wW6SqGtF51LZGGW7bJyCn4dGD2434pB1) The Walt Disney Company (DIS) is capturing investors' attention after it reported stronger 3Q2022 financial results on August 10. Let’s have a look at how the entertainment giant is doing in the streaming business and what positive catalysts lie ahead. 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