Diamonds and Dogs
General Motors (GM) going soft in a good way. The auto giant is up 10% to a three month high on news the Japanese investment firm, Softbank will invest $2.25 billion in GM's self-driving unit. The investment gives a big leg up to GM's Cruise division which has said it wants to put self-driving cars on the road next year.
The dollar is weak today. Both, Dollar Tree (DLTR) and Dollar General (DG) are down over 8% on disappointing earnings. Both companies stated that "unseasonably cold and damp weather" negatively impacted its sales in the first quarter, but both have seen improved sales in the current quarter. A similar story for most retailers except for the ones doing well.