Thursday morning brought investors new enthusiasm about the stock market as the tension between the U.S. and Iran continued to wane. The imminent arrival of earnings season has market participants starting to focus more on the prospects for the broader economy, and signs of a healthy holiday season have many people excited about how strong corporate financial results could be. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES:^DJI) had climbed 198 points to 28,943. The S&P 500 (SNPINDEX:^GSPC) gained 19 points to 3,272, and the Nasdaq Composite (NASDAQINDEX:^IXIC) picked up 73 points to 9,201.
Plant-based food specialist Beyond Meat (NASDAQ:BYND) has regained some upward momentum in the past few days after a rough ride in the second half of 2019, and investors see a lot of potential for the company to make strategic deals with major restaurant operators. Meanwhile, Bed Bath & Beyond (NASDAQ:BBBY) dealt with ugly results for its latest quarter, raising doubts about what the future looks like for the home goods retailer.
Beyond Meat keeps cooking
Shares of Beyond Meat were up 6% on Thursday morning, adding to their gains from earlier in the week. The plant-based food specialist has gotten a lot of attention since its initial public offering last year, and despite extreme turbulence in the stock, many investors believe that the company is just now starting to hit its stride.
Much of the movement in Beyond Meat shares this week has stemmed from speculation about major restaurant chains coming up with distribution partnerships for meatless products. Comments from rival Impossible Foods about supply constraints brought into question its ability to compete for business from McDonald’s, potentially leaving the field open for Beyond Meat if it can more effectively serve the fast-food giant.
Many different food-industry players are