🍨 Daily Scoop: No Cake For Now

 The stock market had a mixed day of red and green as investors digested the Fed's latest statement. Issue #257 // June 11, 2020 Maddie Meyer | Getty Images S&P 3,190.14 (-0.53%) Nasdaq 10,020.35 (+0.67%) Dow 26,989.99 (-1.04%) 10-yr 0.725 (-0.1040) Gold 1,747.40 (+1.56%) Oil 39.00 (-1.52%) *as of market close Hey Scoopers, The Fed told investors that more help is needed, and it will continue to support the economy. — More on that in the "Overall Market" section. Beyond the overall market, the EV truck fight was good for both stocks involved, while investors didn't feel like having Cake (Or, CAKE). — More on that in the "What's Up?" and "What's Down?" sections. Oh, by the way, the delivery war is back. — More on that in the "Water Cooler" section. But, first, here is a recap of what happened in the market yesterday: Market Recap - U.S. markets: For one more day, the stock market indices didn't agree on the direction and ended the day in the opposite direction. Scroll down to the "Overall Market" section to read more. - Cryptocurrency: The lack of volatility in the crypto market continued, and [Bitcoin's price]( hovered under the $10K for one more day. 🎁 [Limited Time Offer] Get the New Course for Free The feedback from the new Technical Analysis course JC Parets created for our readers has been so good that we want to make sure that everyone can get access to it. So we’re giving away the first module free. JC goes in depth on the basics of Technical Analysis and covers: - How to put them into practice in your own trading - The biggest myths about Technical Analysis - How to set both technical and fundamental goals - The key elements of a trading chart. [Claim Your Free Preview â­¢]( More Help Is Needed. [The U.S. Consumer Price Index (CPI) fell for another month]( and the stock market indices didn't agree on the direction. The Nasdaq ended the day in the green. The other two indices took the opposite direction. The Feds had been meeting for two days, and the result was [a statement]( that showed more help is needed to keep the economy going. The Fed is going to "increase its holdings of Treasury securities and agency residential and commercial mortgage-backed securities at least at the current pace to sustain smooth market functioning." More help is needed to keep the economy from crashing. EV Truck Fight So, what happened? Shares of Tesla (Ticker: [TSLA]( were up more than 8% on Wednesday. Even the CEO's strange tweet a few weeks ago declaring the company's stock being overvalued didn't throw the bulls off the rocket. The stock price passed the $1,000 mark after [the news broke]( that Elon has asked the company to "go all out" with the production of their Tesla Semi truck. This green light by the CEO is in response to the emergence of Nikola Corp (Ticker: [NKLA]( a new electric truck manufacturer, started trading NASDAQ stock exchange. It's an EV truck fight, and so far, Elon is winning. Silicon Valley Visionary: “This Will Be the No. 1 Tech Stock of 2020.” Jeff Brown is a tech investor known for his incredible success rate. In fact, he’s invested in 111 different tech startups… and made money on 95.3% of them. Like Intabio, which developed a groundbreaking system to test biopharmaceuticals. Jeff’s stake is up 900%. Or ShapeShift, which Jeff got into very early... As of today, he estimates his investment is up 25,000%. He made 743% in three days on InfoSpace! And now, he’s just released the details on his number one tech stock for 2020. [Click here to watch this valuable presentation.]( Don't Feel Like Having CAKE. So, what happened? Shares of The Cheesecake Factory (Ticker: [CAKE]( were down more than 7% on Wednesday. One of the highly-impacted businesses, due to the Coronavirus outbreak, is the restaurant business. Before the COVID-19 pandemic, the company had been generating profits and sharing its earnings with its investors through dividends at a 5.79% yield. This is one of the reasons dividend-seekers would be interested in investing in this company. However, the company has withdrawn its dividend payment, for now, to reserve cash and resources to deal with the COVID-19 impact. That's why the stock has been declining steadily. Despite investors' reaction, the company has increased its liquidity and has $260 million of cash as of the end of April 2020. It also has amended its credit facility to provide through Q1 2021. The restaurant is planning to steadily run its businesses at 50% capacity by modifying seating arrangements, and this arrangement would gradually add revenue to the company. From here onward, it's all about how well The Cheesecake Factory can execute on its COVID-19 plans, and it might at some point resume its dividend payout too. For now, investors don't feel like having CAKE. The Delivery War Is Back. So what happened? A while ago we told you about the rumor that UberEats wanted to buy GrubHub (Ticker: [GRUB](. This was a scene from the so-called Delivery War, that the stronger one got ready to gobble the weak. However, in an unexpected move, [two smaller warriors got together and decided to merge to take on the gorilla](. Also, the worries of possible antitrust interventions in the US gave Uber and Grubhub the cold feet. In other words, the news broke that GrubHub and its European competition, Just Eat Takeaway (Ticker: [TKAYF]( decided to merge. The Delivery War is back and is in full force now. Send us your thoughts, questions, and ideas. We read all of our emails. Our email address is members@tradestocks.com. Disclosure: Authors of this Scoop own shares of Tesla (Ticker: [TSLA](. Hoda Mehr is CEO and Co-founder of [Stock Card]( and the host of Renegade Investors podcast. She runs a community of 10,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: [Stock Card]( We want to hear from you. 🙏 How are we doing? Please do us a favor... reply to this email and let us know a.) which sections you like the most and b.) what you would like to see more of. We appreciate your feedback. Copyright © 2020 [Trade Stocks]( Our address is 580 Broadway St., Laguna Beach, CA 92651. To update your preferences or unsubscribe, [click here](. (You can also send your request to Customer Care at the street address above.) Â