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Stocks rose sharply Wednesday as investors cheered the latest round of earnings, which included Intel and JPMorgan Chase.
U.S. stock index futures were higher on optimism triggered by Intel's positive outlook, with the tech-heavy Nasdaq showing strong gains, and two major banks posted results that were better than expected, casting some hope that battered financials may be turning the corner.
Now that we are starting to get into the heart of earnings season, the news is looking a little better (thank heavens!). Intel is a big help, but the financials are the key here. After what happened with GE and Wachovia.
Retail sales results were almost universally in the red in March--but--retail stock prices were trading in the green. Why? Many on Wall Street were prepared for the weakest sales results in 13 years and that is indeed what we got on Friday.
Retail analysts had been expecting weak sales in March, but an early Easter holiday, chilly weather and recession-wary consumers combined to deliver March sales that were even drearier than expected.
March retail same store sales were weak, outside of discounters. Remember companies and analysts have been aggressively taking down first quarter estimates for over a month (as well as same store sales), but companies like JC Penney, Target, Gap, Abercrombie, and Kohls were all notably below expectations on same store sales.
U.S. stocks closed lower Wednesday after UPS projected an earnings shortfall and oil prices surged.
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Following are the day’s biggest winners and losers. Find out why shares of Fannie Mae and Pier 1 popped while Clear Channel and Yamana Gold dropped.
For banks in need of capital, the time to act is "right now," says Cramer.
Starting up a clothing business during an economic downturn is a challenge. These days having experienced navigating the tumultuous foreign exchange, commodity markets and consumer spending obstacles is probably of more use than years spent in fashion design school!
Over the last year, J. C. Penney rolled out a powerful new marketing campaign, but consumers are not biting. Friday, J. C. Penney sharply cut its earnings forecast for the first three months of the year, blaming the tough economy.
For the week ending Friday, March 28, 2008 the US Markets ended mixed after starting on a high note Monday extending last week's market rally. The winning streak came to an end on Tuesday when the Dow closing down for the first time in three sessions. The NASDAQ had the strongest performance of the week managing a positive gain despite weak earnings from Oracle and poor performance from Google . Economic data dragged on the markets with consumer sentiment and confidence at low levels and negative housing data.-Next week the markets will watch Friday's jobs report for evidence of recession, and any revisions on guidance as we move into earnings season. Alcoa kicks off "official" earnings season on Monday, April 7th after the bell. The big companies for next week all hit on Wednesday with RIM , Monsanto and Best Buy all reporting earnings.
Cramer makes the call on viewers' favorite stocks.
The Dow lost more ground Friday and posted its third straight decline. What's the word on the Street? Also an interview with Domino's Pizza CEO David Brandon.
Stocks closed lower Friday after a profit warning from J.C. Penney, which renewed fears about slower consumer spending. Financials and techs caved in after earlier attempts to rally.
Today's numbers on personal income and outlays shows more tightening of the consumer wallet, the leading component of the US economy. Consumer spending, which represents ~70% of GDP, hit a 17-month low in February. See how this compares to the long term trends...
So plenty of debate on the retailers as JC Penney lowers estimates. The crux of the debate is, is this the worst for the year? Lehman Brothers thinks so, in a note to clients a short while ago they said, "we are optimistic that 1Q08 represents the low point of the year as we expect inventory levels to improve throughout 2008."
Stocks advanced Friday, boosted by benign inflation data and an upgrade on Lehman Brothers.
Stocks rose at the opening bell as the market weighed benign inflation data with a weak outlook from J.C. Penney.