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Dow jumps more than 200 points, Target and Lowe's surge on strong earnings

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All 3 major U.S. indices rose today after retailers such as Target and Lowe's reported strong earnings, lifting investor sentiment. The Dow climbed 0.93% as the S&P popped 0.83% and Nasdaq climbed 0.9%.

div > div.group > p:first-child"> The Dow Jones Industrial Average closed 241 points higher, or 0.9%. The S&P 500 gained 0.8%. The Nasdaq Composite jumped 0.9%. The major indexes held on to their gains even after the bond market flashed a recession signal in the last hour of trading.

Target shares surged more than 20% to a record after the retailer posted second-quarter results that topped analyst expectations. The company's same-store sales, a key metric for retailers, expanded by 3.4%. Analysts expected growth of 2.9%. The Dow is down more than 2% in August amid worries over a possible recession. The S&P 500 and Nasdaq Composite have both lost more than 1.5% this month. Gold, meanwhile, has jumped more than 5% this month while the benchmark 10-year Treasury yield is down about 40 basis points, or 0.4 percentage points.

 

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Consumer spending is a lagging indicator especially at Target, with these low interest rates, etc.

Yes cause the kiddies are going back to school

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Target, Lowe's surge on stronger-than-expected earningsCNBC's Courtney Reagan reports on strong earnings from Target and Lowe's that sent major averages higher. Ok cool, so if the economy is so strong no need for rate cuts but wait that's bad but good earnings are also bad because no need for rate cuts so shouldn't the markets sold off today... lol . I just love lala land don't you Mr twit er er in chief imagine if they started selling weed
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