Wall Street Breakfast June 27: What Moved Markets This Week

Alpha TALKS is a weekly video covering what moved markets this week, featuring a panel of Seeking Alpha editors.Hosted by Nathaniel E. Baker, Contributing Editor, and featuring:Aaron Task, VP Contributor Content and co-host Seeking Alpha's Alpha Trader podcast;Brad Olesen, VP News;Steve Alpher, Managing Editor News, co-host Alpha Trader.Big Picture (0:28)Coronavirus fears weighed on markets again this week. The Federal Reserve's stress tests caused selling in bank stocks. Quarter-end portfolio rebalancing may have had an effect as well.Winners & Losers (3:04)Winners and losers were once again scattered along the COVID-divide.Losers of the week included cruise lines such as Royal Caribbean (RCL) and Norwegian Cruise Line Holdings (NCLH), travel stocks like American Airlines (AAL), and retailers like Nordstrom (JWN).Winners of the week included Clorox (CLX), McCormick (MKC), and Dollar Tree (DLTR).The Federal Reserve stress test weighed on financial stocks (5:24). Banks have lagged the overall market and there is a sense that if these stocks can't get going, then it could weigh on the current rally (6:52). The fundamentals aren't particularly good and valuations may become a concern at some point (10:06). Articles and Stories That Caught Our Eye This Week (15:06)Brad: Gap +11% after inking Yeezy deal with Kanye West and Series of VIX, Gold, Silver ETNs axed by Credit Suisse;Steve: Canada loses AAA status at Fitch;Aaron: Microsoft (MSFT) and Apple (AAPL) closing retail outlets and The Fed Is Not Juicing The Stock Market by Trading Places Research;Nat: Retirement: A Storm Is Coming - The Inflation Monster by Rida Morwa.Learn more about your ad choices. Visit megaphone.fm/adchoicesThis show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/5725002/advertisement