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Video: Why The Economy Is Booming And Etsy Is A Stock To Watch

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On today's episode of Free Lunch, Associate Stock Strategist Ryan McQueeney discusses the latest news from the Federal Reserve and European Central Bank, as well as today's Initial Jobless Claims and Retail Sales reports. Later, he highlights Etsy (NASDAQ: ETSY), a trending stock that soared in morning trading after raising its own revenue guidance.

Investors reacted to a pair of headlines from two of the world's most important central banks on Thursday, with the Federal Reserve announcing another rate hike—while also implying that two more hikes are likely this year—and the ECB choosing to keep interest rates unchanged but wrapping up its asset repurchase program.

Ryan recaps these stories and gives viewers a little international perspective as the FIFA World Cup officially starts today.

The host also touches on today's top U.S. economic reports: Initial Jobless Claims and Retail Sales. It was another solid week for jobless claims, but retail sales were the star of the show as May's 0.8% growth doubled expectations and pointed to strong conditions for American retailers.

Finally, Ryan explained why shares of Etsy were soaring in morning trading before taking a closer look at the trendy online marketplace. Ryan touched on the uniqueness of Etsy's platform and examined its price performance, earnings growth potential, and key valuation metrics.

Related Links:

Adidas Vs Nike: Which Sportswear Giant Will Win The FIFA World Cup?

Mid-Afternoon Market Update: Sonoma Pharmaceuticals Falls Following Q4 Miss; Teligent Shares Surge

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: contributor contributors FIFA World CupNews Econ #s Markets

 

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