Traders work on the floor of the New York Stock Exchange during morning trading on August 20, 2024 in New York City.closer to record levels as investors look ahead to commentary from Federal Reserve Chair Jerome Powell expected later this week.
Despite some choppiness, the three major indexes are all on pace to finish the week higher. The Nasdaq Composite and S&P 500 have added about 2% and 1.5%, respectively. The Dow has risen 0.8%.With more than half of the trading week in the rearview mirror, the three major indexes are tracking for gains., which have both seen nine positive sessions of the last 10, are up more than 1% each on the week.
Continuing claims, which run a week behind, nudged up to 1.863 million, an increase of 4,000 and the highest level since Nov. 27, 2021.Crocs shoes are displayed in a Crocs store at the Great Mall Milpitas on May 07, 2024 in Milpitas, California.— The footwear stock ticked up more than 1% after an upgrade to buy from hold at Williams Trading. The investment firm said Crocs' move to sign actress Sydney Sweeney as a spokesperson for its Heydude brand could help reverse negative sales trends.
The company's namesake brand continues to be a major problem. Sales of stores open for at least a year for the Urban Outfitters brand fell 9.3% in the latest quarter — more than the 8.3% decline Wall Street expected. That is the ninth consecutive quarter of same-store sales declines for the brand.
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