If there was ever an argument for owning a broad portfolio of stocks, the first half of 2015 is Exhibit 1.» Read More
Maria Bartiromo discusses Wednesday's top business and financial stories, and looks ahead to tomorrow.
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.
Facing the weakest holiday season in nearly two decades, retailers and the vendors who keep their shelves stocked are walking a fine line between helping each other stay afloat and protecting their profits.
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.
We are entering a period of poor economic data, even poorer than the previous months, as evidenced by the retail sales data today.
Late in the day Treasury Secretary Paulson did disappoint traders by saying it would take several weeks before Treasury would buy assets, but he also mentioned the powers to inject capital into financial institutions that the Treasury now has.
Due to the Yom Kippur holiday tomorrow, a number of retailers are reporting September same store sales a day early. In general, discounters (ex-Target) outperformed, so Wal-Mart, Costco BJ, and Fred's all did fairly well.
This sector is "very vulnerable," Cramer says, and needs Congress to act quickly.
Attention Wall Street: Add the precipitous slowdown in consumer spending to the list of worries and reasons to think a recession is underway or imminent.
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.
Investors sent The Dow and the overall stock market sharply lower on Thursday amid signs that the economic slowdown is showing no sign of improvement.
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.
Q: On Fast Money’s trader radar we look at the stock that was lighting up screens across Wall Street. This department store chain uses a ticker symbol after its founder, John W., a Swedish immigrant with an affinity for shoes. The retailer’s now better-known for its unrivaled level of customer service. But it couldn’t help letting down some of its shareholders today, after reporting smaller profits and lowering its full-year forecast. Who is it???
Wall Street shook off more signs of consumer weakness and instead focused on plunging oil prices, sending stocks up as financials continued to gain.