Stocks Climb After Retail Sales and Inflation Data

The stock market closed higher on Thursday, as traders weighed latest retail sales and wholesale price inflation data.

Retail sales came in stronger with 0.6% growth in August. U.S. wholesale price inflation was likewise hotter-than-expected with 0.7% growth in August from a month ago.

Overall, S&P 500 and NASDAQ increased 0.8% to 4,505 and 13,926, respectively.

Tweet of the Day

Chart of the Day

Here is the one-year chart of DoubleVerify (DV) as of August 23, 2023, when the stock was at $34.

DoubleVerify is a software platform for digital media measurement and analytics which helps companies increase their return on digital advertising investments.

DoubleVerify’s advertisement tracking software continues to grow steady through a slowdown in global advertising. Looking ahead, the stock might get hot as profit growth is expected to accelerate in the next four quarters. Profit growth is expected to be 0% next quarter, then accelerate to 30%, 29% and 43% in the following three quarters. This could get attention from investors.

In addition, DoubleVerify is now getting into the AI space with its acquisition of Scibids. Scibids is a Paris-based startup that automates and optimizes programmatic buying of digital advertisement campaigns. It will help optimize advertisements to the best performing inventory at the best price. Initial tests show a 45% reduction in cost per thousand impressions (CPM), a 63% increase in advertisement attention levels, and a 95% in impressions won versus competition.

DV is part of the Growth Portfolio and Aggressive Growth Portfolio.

Not a member? Sign up here for $25 a month.