A Wells Fargo analyst says sales volatility, lease obligations and the competitive landscape make specialty apparel stores less than ideal candidates.» Read More
Stocks retreated Friday after a record drop in retail sales and some dismal fourth-quarter forecasts.
As the G-20 meets in Washington, there is a lot of parsing of commentary from attending politicians.
Thursday's wild action could draw some buyers into the stock market Friday. But traders warn it could be another volatile day, and there will certainly be investors who use Thursday's gains to take profits.
The NASDAQ broke the old closing low of 1505.90. We did not break the old closing low of 848.92 on the S&P set on October 27th, but we are very close. Let's not quibble.
Like anxious relatives in a hospital room, investors have been watching the economy get sicker and sicker with new symptoms surfacing daily.
For the week, the major industries saw uniform declines: Dow Industrials down 4.1 percent, S&P 500 down 3.9 percent, NASDAQ down 4.3 percent. However, financials were down 8.1 percent, while consumer staples were down only 1.2 percent.
Retailers are reporting some of the weakest sales in more than a decade as consumer spending dried up in October amid the uncertainty brought on by the financial crisis and mounting layoffs.
The most important fact about the economic and earnings data in the past couple weeks is that it has generally been worse than the already lowered numbers predicted. We have seen this again this morning, with the exception of the Productivity number.
Last week, analysts finally woke up and began aggressively cutting same store sales. As always, they have been late and the stock market has moved ahead of them.
U.S. retail chains may report some of their worst monthly sales results this week as the global financial crisis leaves its mark on ordinary consumers, casting new doubt on holiday season sales.
The issues are: 1) forced selling & redemptions in the last hour 2) continuing uncertainty in credit markets
S&P futures are up 19 points, and while many think this is because Treasury is actively shopping the idea they will take an ownership stake in U.S. banks, bear in mind that the market now routinely swings in 20 plus point ranges in a day, and often overnight, so futures up 15 is not even unusual any more.
Teens across the nation have spent their summer vacations battling high gas prices, competing for jobs in a weak part-time employment market, and making do with smaller contributions from cost-conscious parents, said Portfolio.com
For the week ending Friday, September 5, 2008, the U.S. markets ended in negative territory for the week after weak employment data and declines in auto and retail sales pointed to weaker consumer spending and a greater economic slowdown. The unemployment rate jumped to a 5-year high, soaring to 6.1%. On Thursday, the three major Indices fell back into bear market territory by dropping 20% from their market peaks set last fall. Both the Dow & Nasdaq Composite had their worst daily closes since July 26, with drops of more than 340 points for the Dow and 75 points for the Nasdaq.
Following are the day’s biggest winners and losers. Find out why shares of American Eagle and Chico’s popped while Caterpillar and American Express dropped.
Yesterday, Kohl's and JC Penney reported August same store sales slightly better than expected. Today Wal-Mart, Target, Gap, American Eagle (reaffirms third quarter guidance), Pacific Sunwear all reported sales above expectations. However, department stores did not fare as well.
Stocks ended a mundane week mixed, despite modest gains Friday fueled by plunging oil prices that nevertheless couldn't offset a cautionary trading environment.
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Wall Street shook off more signs of consumer weakness and instead focused on plunging oil prices, sending stocks up as financials continued to gain.
Yesterday it was Europe announcing weak economic growth, today it is Hong Kong, where Q2 GDP fell by 1.4 percent quarter-over-quarter. Year-over-year, GDP rose 4.2%, the slowest gain since Q3 2003. Higher costs from China, as well as weaker demand, was the culprit.