There's a lot to sift through when it comes to the news.
Jim Cramer's paying close attention to StitchFix's (SFIX) - Get Stitch Fix, Inc. Class A Report earnings, Jerome Powell's speech and the takeaways for investors and what happens if the Dec. 15 tariffs really are off the table.
The online clothing group, which is Real Money's Stock of the Day posted stronger-than-expected first-quarter earnings following its recent move towards 'direct buy' strategies.
Stitch Fix reported a breakeven quarter, topping Street forecasts of a 6 cent loss as revenues rose 21% from the same period last year to $445 million and active clients on the group's platform jumped 17% to 3.4 million. A notable portion of that gain, however, was linked to the launch of two new "direct buy" offerings -- Shop Your Looks and Shop New Colors -- that both supported inventory clearance and leveraged group expenses, reported TheStreet's Martin Baccardax.
"With the introduction of our direct-buy capability, which allows clients to choose and purchase items outside of a Fix directly on our app or website, we’ve begun taking steps on what will be a multiyear process of evolving our offering so that our personalization service can be accessed in more flexible ways," CEO Katrina Lake told investors on a conference call late Monday. "We strongly believe direct-buy will ultimately be incremental to our business from both a wallet share and addressable market perspective. And as a result, we've actively prioritized continued rollout and improvement to this capability."
The Federal Reserve kicked off its two-day meeting Tuesday, Dec. 10.
Fed chair Jerome Powell will be taking the podium Wednesday in the final Fed presser of the decade.
And, while investors are expecting the Fed to hold rates steady this month, what should they expect to hear from Powell himself?
What's Going On With the Tariffs?
Wall Street Journal reported this morning that negotiators for both the U.S. and China were working toward an agreement that could delay $160 billion in tariffs set to kick in on Dec. 15.
The report from The Wall Street Journal reversed sharper declines earlier on Wall Street as investors keyed on the start of the two-day Federal Reserve meeting and monitored developments in the slow-moving trade talks between Washington and Beijing.