In Today's Update:
1) U.S. Equity markets struggled to post gains on Friday despite stronger-than-expected Chinese economic data. The Dow Jones Industrial Average gained 110.00 or 0.42%, the S&P 500 added 4.58 or 0.16% while the Nasdaq 100 closed higher by 1.98 or 0.02% and the Russell 2000 finished lower by 1.85 or 0.12%.
2) Crude Oil Futures gained $0.24 or 0.38% after a drop in U.S. Crude stockpiles while Gold Futures still managed a small gain despite a strong rally in the U.S. dollar. The Bond market also showed strength Friday and the yield on the 10-year Treasury Note settled at 2.564%.
3) Pier 1 Imports (PIR) has announced plans to close up to 145 stores and cut more than $100 million in costs in an effort to save the company. PIR was worth more than $2 billion as recently as 2014 but is now only worth $55 million. In today's video, we will review the daily, weekly, and monthly charts of PIR and discuss if it might be worth betting on a potential recovery.