PepsiCo Advances 5%; JOLTS Report Reveals Quit Rates Highest Since 2001 - Adviser Investments

PepsiCo Advances 5%; JOLTS Report Reveals Quit Rates Highest Since 2001

David Mastroianni, strategic account executive at Adviser Investments, has the market analysis for Tuesday, July 10. PepsiCo (ticker: PEP) beat earnings expectations on new marketing efforts and a 5% uptick in Frito-Lay North America’s operating profit. PEP closed the day up 5%—the largest daily percentage gain for an S&P 500 constituent. The Bureau of Labor Statistics also released its Job Openings and Labor Turnover Survey (JOLTS) report, indicating 6.6 million new job openings in May. This represents a 3% decline from April’s series high, but a 17% gain from a year ago. JOLTS data also reveals job market confidence as American employee quit rates advanced to the highest level since April 2001.

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