Yahoo TV

On today's episode of Asking for a Trend, Host Josh Lipton breaks down some of the biggest themes and takeaways from the trading day.

Robinhood (HOOD) topped second quarter earnings expectations, posting revenue of $682 million and earnings of $0.21 per share. However, the trading platform fell short of Wall Street estimates for user growth. Citizens JMP director of financial technology research Devin Ryan explains that Robinhood had an "outstanding quarter" as it saw revenue grow 40% year over year. He notes that the company delivered great profitability and saw new net deposits — which he sees as a core driver — rise 40% more than it did in 2023. "From the beginning, Robinhood offered, I think, a really intuitive and seamless experience for trading for new-to-the-market investors. And they had a lot of success with that. But I think the vision from the beginning was always to expand out, both from a customer perspective, then also from a product perspective," Ryan says. "I think you're seeing that show up just in the types of deposits that are coming in. So that's driving a lot of momentum."

Yahoo Finance Reporter Josh Schafer breaks down his top takeaways from the trading day as markets (^DJI,^GSPC, ^IXIC) struggled to keep their rebound going after being hammered by a 3-day selloff earlier in the week. The AI trade, in particular, is under pressure as Wall Street looks for real results from AI investments. Shares of chip giant Super Micro Computer (SMCI) plummeted nearly 20% after missing earnings expectations. Amid this period of intense volatility, all eyes are on Thursday's jobless claims report as it could provide the economic data needed for the market to recover.

As Inflation continues to be a challenge, consumers are only spending 30% of their monthly food budgets on restaurants as of April 2024, according to data from a Popmenu study. Resy CEO Pablo Rivero comments on what's still powering reservation numbers, explaining, "Consumers are looking for the opportunity to connect, right? At the end of the day, that's why they go to restaurants. They want to connect over the table, and they also want to have a unique experience."

Finally, Josh Lipton analyzes some of the biggest names moving in after-hours trading, from Bumble (BMBL) to Zillow (Z).

This post was written by Melanie Riehl