Stock market climbs after big retailers post solid earnings

Strong earnings reports from several big retailers helped drive stocks on Wall Street broadly higher Wednesday as the market bounced back from its first loss in four days.

Investors have been worried that U.S. economic and corporate earnings growth could stumble under the strain of a slowing global economy and the U.S.-China trade war. But the strong quarterly results from the retailers encouraged traders — who see the performance as a sign that U.S. consumers, which account for 70% of U.S. economic growth — are healthy.

A look at Target and Lowe’s earnings Wednesday appeared to dim investors’ concerns about the effects tariffs on Chinese goods may have on U.S. consumers.Target soared 20.4% after the company easily beat profit forecasts for its second quarter. Target has been pushing faster delivery and investing heavily in new private label brands.

Investors took a dim view of Cree’s latest quarterly results. Shares in the maker of energy-efficient lighting tumbled 15.8% after it issued a weak forecast as it deals with the fallout from the U.S.-China trade war. Investors have been seeking insight into the Fed’s willingness to make further interest-rate cuts to help shore up the economy. They are now looking ahead to Friday, when Fed Chairman Jerome Powell is scheduled to speak at the central bank’s annual conference in Jackson Hole, Wyo.

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Dow jumps more than 200 points, Target and Lowe's surge on strong earningsAll 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%. Yes cause the kiddies are going back to school Consumer spending is a lagging indicator especially at Target, with these low interest rates, etc.
출처: CNBC - 🏆 12. / 72 더 많은 것을 읽으십시오 »

Kohl's reports better-than-expected earnings and revenue on strong start to back-to-school seasonKohl's said Tuesday that a strong start to the back-to-school season and new partnership with Amazon helped the retailer beat Wall Street earnings and sales expectations during the second quarter. Kohl's has clearly hit a few rough patches lately, but with fans of the retailer expecting a stronger economy – and with the potential buying power of a maturing Generation X – the idea of a turnaround may be on the table. JasmineWu_
출처: CNBC - 🏆 12. / 72 더 많은 것을 읽으십시오 »