Today's Video Newsletter: Sequestration Showdown Looms Large

Hello traders everywhere! Jeremy Lutz here, with your mid-day market update for Thursday, the 28th of February.

Markets are ending the month of February in an upbeat fashion today, albeit subdued. The Dow Jones industrial average is within striking distance of its all-time record high, despite the prospect of sequestration.

Big-name companies reported higher quarterly earnings, along with some big-time misses today which is leading to a mixed market. We'll take a look at two of the big-time misses, Groupon Inc (GRPN) and JC Penney (JCP).

The government reported that the jobless claims are falling and that the economy is doing better than last year so far in the first quarter. However, Washington's budget battle has cast a shadow over the market, with spending cuts set to automatically kick in Friday and no sign that the two political parties might work out their differences beforehand. Continue reading "Today's Video Newsletter: Sequestration Showdown Looms Large"

Poll: Do you use online discount services like Groupon?

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Groupon plunged 30 percent before Thursday's opening bell, after posting a larger-than-expected fourth quarter net loss.

The company issued a weaker-than-expected revenue guidance, feeding the belief of some on Wall Street that people have tired of the myriad of online restaurant, spa and Botox deals that Groupon offers.

The company says it focused on growth at the cost of some profitability by offering better deals to top merchants in a bid to expand offerings to customers. That boosted demand along with market share and helped spur bookings growth, though at the expense of revenue, Groupon said. Continue reading "Poll: Do you use online discount services like Groupon?"