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It was a week that ended with a whimper and began with a roar.
Wall Street ended Friday with slight losses after a string of earnings disappointments from the retail sector with players such as Gap (GPS) , Abercrombie & Fitch (ANF) , and Footlocker (FL) posting results.
While the retail sector dragged down the market, ending a streak of gains and record highs, the U.S. dollar was the story of the day as an impending rate hike becomes more likely. The dollar stayed at its highest level since 2003, thanks to investor optimism that U.S. growth will rise under President-elect Donald Trump.
In other news, daily fantasy sports websites DraftKings and FanDuel announced that they had agreed to a merger. The companies have been battling with state regulators about the legality of their contests, and it seems the costs may have finally gotten to them.
But while investors concentrated on the dollar, rate hikes and where they're going to place their "bets" during Sunday football, TheStreet and its affiliates took a step back to assess the markets and help you manage your portfolio.
Here are the highlights:
Why the Trump Infrastructure Gains May Take Longer Than Expected to Materialize
A Deutsche Bank research note points out the state-level legislature issues and lack of shovel-ready projects that may dampen the effects of Donald Trump's infrastructure investment plan. Full story
Tweet of the Day:
Bloomberg Cuts Back on Political Coverage Amid Slowing Terminal Growth
The pullback on political coverage comes as sales of the firm's famous terminal, priced at more than $20,000 per year, have 'slowed considerably.' Full story
Chart of the Day: Yelp Looks Set Up for Gains in 2017
How Buying Blue Apron Ahead of any IPO Could Leave You Blue
Remembering old ticker missteps ahead of any IPOs by unicorns. Full story
PE Hops Into Craft Beer, Avoiding Frothy Valuations
The craft beer landscape is littered with megabeer buyouts, a bubble rumor that won't disappear, and so many brewers that some private equity investors see opportunity in barley and hops. Full story
Video of the Day: It's a Mickey Mouse Approach to Business for Ethan Allen