June 30th 2021 – Stock Market Today: Here’s what’s happening.

Futures were flat this morning to start the final trading day of the month, the quarter and the first half of 2021.  So far, for the year the Nasdaq and the Dow are both up 12% and the S&P 500 has seen a 14% gain.  

In the news today, elevated demand for this holiday favorite is already leading to shortages and price gouging around the country.  

Plus, Target (TGT) is hitting new highs thanks to rising immunization rates and a recovering economy.  Find out where the pros think might be in store for the retail giant. 

We’ve also got news from one e-commerce giant that could inspire a shift in the operations of other online retailers, soon.  

Read on to learn more about what’s moving markets today….

Are retail stocks making a comeback? It appears so, as Target (TGT) in particular keeps hitting record-highs

For the sixth session in a row, Target’s stock hit a new high on Monday. In 2021, the stock climbed 37%, more than double the S&P 500’s gains. Cowen, a multinational independent investment bank, recognized the firm as one of the retail brands loved most by Generation Z. 

Target, according to Nancy Tengler, chief investment officer at Laffer Tengler Investment, is one store that is expected to continue its upswing. “This is a firm that appears to be running on all cylinders, and they just increased the dividend by 32%, indicating their confidence in future profits growth.” Tengler told CNBC’s Trading Nation on Monday that they had a “standout quarter.”

In its first quarter, Target recorded a 23% rise in revenues. Higher in-store sales were attributed to rising immunization rates and the recovering economy, according to the business.

Fourth of July: Fireworks are in limited supply around the country, resulting in increased pricing and bare shelves

As you plan your July 4th weekend celebrations — if you can find them — add fireworks to the list of items that will be more pricey this year. As the holiday weekend approaches, pyrotechnic shortages are leaving retailers empty and pushing up prices for the second year in a row. According to Alan Zoldan, executive vice president of Phantom Fireworks, if you want fireworks for July 4th, you better stock up early and spend extra this year. “If you pay the same amount, you’re going to get less. There’s no question in my mind,” Zoldan said.

While some communities have canceled their fireworks displays this year, others are continuing with their tradition. Many professional fireworks display businesses were unable to stage their yearly shows because of the COVID-19 epidemic last summer, leaving them with leftover pyrotechnics. Supplies are behind schedule, and inventory is low following increasing demand last year. According to the American Pyrotechnics Association, US merchants rely primarily on Chinese producers. However, supply disruptions are occurring as a result of shipment delays. 

When public fireworks displays were halted last year, more individuals fired off their personal pyrotechnics, so shops don’t have much inventory. These exhibitions will take place this year, and the scarcity will not hinder professional events.

Upon its first million dollars in revenue, Shopify (SHOP) reduces its App Store fees to 0%, and lowers developers’ app store fees

Ecommerce platform Shopify, a Canadian-based business, said yesterday that it is decreasing its cut of developer income across its app store, the Shopify App Store, as well as the new Shopify Theme Store, after similar moves by Apple, Google, and more recently Amazon, among others. At the company’s Unite 2021 Conference today, the announcement was revealed with a slew of other developer-related news and upgrades for the Shopify platform, including updates to Checkout, APIs, developer tooling, and frameworks, among other things. As the COVID-19 epidemic continues to push Shopify Inc. against Amazon.com, the business will launch a new revenue share plan for developers and speed up transactions.

Shopify stated yesterday that beginning Aug. 1, it will not take a cut of the first $1 million in sales generated by developers for the e-commerce company’s software, including booking capabilities, subscription tools, and other goods. Shopify is following in the footsteps of other digital behemoths such as Microsoft, Apple, Google, and Amazon, which have lately lowered developer costs. Shopify President Harley Finkelstein stated during a presentation that the firm is also lowering its commission rates for developers who earn more than $1 million per year to 15% from 20%. Finkelstein claims that this is “half the price of other major app shops.”

Today’s Calendar (Earnings):

Before Market Open:

— Bed Bath and Beyond (BBBY)

— General Mills (GIS)

–Constellation Brands (STZ)

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