Home Depot is putting a lid on new-store openings and focusing its expansion efforts on e-commerce.» Read More
Driving around Southern California’s Ventura and Los Angeles counties, we saw many of those boarded up stores or “for lease” signs in small businesses. In Oxnard, California the local retail organization told me that these areas are getting “redeveloped” but store owners were much less optimistic.
It's a booyah-free zone. There goes Swifty!
As crude oil went higher stocks went lower Tuesday. What's the "Word on the Street?"
Stocks finished near session lows as oil prices soared and a measure of wholesale inflation surged, sparking worries that the Federal Reserve will start focusing on rising prices rather than slowing growth.
Just when it looked like stocks were about to break through a wall, they appear to have slipped on a road covered with oil.
Stocks tumbled Tuesday as oil prices blew past $129 a barrel and a measure of wholesale inflation surged, sparking worries that the Federal Reserve will start focusing on rising prices rather than slowing growth.
The retail issues are not surprising; we heard Lowe's talking cautiously yesterday, now Home Depot is guiding toward the low end of its previous guidance. Bottom line: the retail turnaround is less certain, and further out.
Few, if any, signs of improvement here. Saks and Staples expect the U.S. economy to remain weak for the rest of 2008.
Home Depot said quarterly profit fell 66 percent as the U.S. housing meltdown hurt sales and it took a charge to close stores and curb expansion plans.
Stocks tumbled Tuesday after a measure of wholesale inflation rose more than expected, sparking worries that the Federal Reserve will start focusing on rising prices rather than slowing growth.
Futures dropped a bit as core PPI for April was a stronger than expected. Elsewhere: 1) Home Depot beat estimates, reporting earnings of $0.41 (14 percent below last year's $0.48), vs. consensus estimates of $0.37. Despite the apparent beat, the stock is down 3 percent:
Wall Street is on inflation watch Tuesday. In fact, it is beginning to be on inflation watch everyday. The producer price index, the measure of inflation at the producer level, is released at 8:30 a.m. and is the only item on the economic calendar for Tuesday.
The S&P and Dow eked out gains Monday as record oil prices boosted energy shares, but the Nasdaq slipped after a chipmaker's warning. What's the "Word on the Street?"
Stocks finished mixed as an early rally fizzled and weakness crept into techs, retail and housing.
Last week, Wal-Mart showed it can make money in the current economic environment. This week, the worry is Home Depot won't be able to deliver. Can Home Depot break ranks with rival Lowe's and improve its guidance? Sure, but don't hold your breath.
Stocks advanced Monday as an uptick in leading indicators offered investors a modest confirmation of the optimism they've been trading on.
Retailer Lowe's reported an 18 percent drop in first-quarter profit Monday as the slumping US housing market and soft economy hurt sales, and it cut its full-year profit forecast, sending its shares down as much as 3 percent.
To give investors an edge, CNBC asked the market experts where investors should be placing their bets now.
Stocks opened flat Monday as high oil prices fueled concerns about the weary consumer and there was fresh chatter that the credit crunch isn't yet over.
Is this a real bottom or not? Cramer says it doesn’t matter.