• Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Dividend Stocks Report
No Result
View All Result
Home Stock News

Stocks stall near record highs despite strong retail earnings, Dow sheds 140 points

by
November 17, 2021
in Stock News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

U.S. stocks were little changed on Wednesday as investors weighed strong earnings reports from big-box retailers against lingering inflation concerns and continued digesting strong retail data.

Related Posts

Billionaire investor Ray Dalio says the US is at the start of a debt crisis – and worse times are ahead for the economy

June 9th COVID Update: New Pandemic Lows for Deaths and Hospitalizations

The 10 Best Algorithmic Trading Software 2023

Carvana stock surge leaves short sellers sitting on $1 billion loss

The Dow Jones Industrial Average fell 142 points, or 0.4%. The S&P 500 and the Nasdaq Composite lost 0.3%. The Dow was dragged down by a 5% drop in Visa.

Target posted beats on the top and bottom lines, but its CEO noted rising costs may have an impact on the company going forward as it plans to absorb those costs rather than pass them onto the customer. Shares slid about 5%.

Home improvement giant Lowe’s saw shares rise slightly, however, after the company not only topped estimates from the Street but also raised its full-year sales forecast.

Shares of TJX jumped almost 9% after the apparel and home retailer reported a quarterly earnings beat on the top and bottom lines as well as a same-store sales increase of 14% year-over-year.

Elsewhere, shares of Dow component Boeing rose nearly 2% after the company received an Akasa Air order for its 737 MAX worth $9 billion. The aerospace company’s stock has been a laggard this year, up just 6.5%.

Also, Tesla climbed slightly as the stock continued its rebound from a 15.4% loss last week, when CEO Elon Musk began his Tesla stock sell-off.

Visa shares slumped 5% after Amazon said it will stop accepting payments made with Visa credit cards issued in the U.K. starting next year.

The moves come after fresh economic data and corporate earnings signaled U.S. consumers are ramping up spending despite rising prices.

On Tuesday, the Dow added 54.77 points, or 0.15%. The S&P 500 gained 0.39% and the Nasdaq Composite rose 0.76%.

Retail sales rose 1.7% in October, the Commerce Department reported Tuesday, faster than economists expected. The figure measures how much consumers spend on goods across a number of categories.

Strong quarterly results from Home Depot also boosted investor sentiment Tuesday. The home improvement retailer led gainers on the Dow after earnings topped analyst estimates. Walmart also reported better-than-expected results, though its shares declined.

“U.S. stocks rallied after an impressive retail sales report, solid industrial production data, and retail earnings showed the consumer is handling the current pricing increases. All signs are pointing to a very strong holiday season for retailers and that should help keep sending stocks higher,” Edward Moya, senior market analyst at Oanda, said in a Tuesday note.

Investors await more retail earnings Wednesday from Bath & Body Works and Victoria’s Secret. Other major companies reporting results include Cisco Systems and Nvidia.

Next Post

Target tops earnings estimates, but shares fall as retailer focuses on keeping customer prices low

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Stock News

Billionaire investor Ray Dalio says the US is at the start of a debt crisis – and worse times are ahead for the economy

by
June 10, 2023
0

Read more

Billionaire investor Ray Dalio says the US is at the start of a debt crisis – and worse times are ahead for the economy

June 9th COVID Update: New Pandemic Lows for Deaths and Hospitalizations

The 10 Best Algorithmic Trading Software 2023

Carvana stock surge leaves short sellers sitting on $1 billion loss

Stocks pop after S&P 500 enters bull market: Stock market news today

Target stock slapped with another Wall Street downgrade as shopper slump worries rise

Load More

All rights reserved by www.dividendstocksreport.net

  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.