Despite reporting some of the strongest sales gains in four years, retailers largely fell short of Wall Street's estimates as a still-cautious consumer spent their money carefully, and a Northeast blizzard stole from post-Christmas sales.
Heading into Thursday's batch of retail sales reports, expectations are high that retailers will report their strongest sales in four years. However, as BJ's Wholesale's report showed Wednesday, there are sure to be some misses here and there.
A new report from MasterCard Advisors' SpendingPulse, which estimates sales across all payment forms, shows strong sales growth in December for apparel and high-end items, including jewelry. Online sales were also very strong, perhaps helped by wet weather in West and a post-Christmas blizzard in the Northeast.
Stocks closed mixed amid thin holiday trading after a couple lackluster economic reports on housing and consumer confidence. Chevron and HP rose, while American Express fell.
Stocks declined modestly amid thin holiday trading and after a couple lackluster economic reports as the Northeast recovered from a huge snowstorm. Caterpillar and Disney fell, while Bank of America rose.
After a rough 2009 that saw the demise of several stores, jewelry merchants have emerged as the shining star of the retail sector this holiday, with chains from tony Tiffany to mass-market Sterling Jewelers posting robust sales gains.
Though this is traditionally a slow week, there are several underlying trends to the market.
Options investors are really expecting a 'Miracle on 34th Street' this year, according to Pete Najarian.
Stocks closed off session highs, yet the Dow still hit its highest level since before Lehman Brothers collapsed as Treasury yields soared in the wake of the Federal Reserve's reaffirmation of its decision to buy bonds to stimulate the economy. AT&T and Kraft rose, while JPMorgan fell.
Stocks trimmed some gains but remained mostly higher Tuesday after the Federal Reserve reaffirmed its decision to buy bonds to stimulate the economy and left short-term interest rates unchanged. Kraft and Microsoft rose, while JPMorgan fell.
Stocks continued to trade higher Tuesday after a handful of mostly strong economic reports, and despite weak earnings from leading electronics retailer Best Buy, as investors await news from the Federal Reserve's meeting this afternoon. Boeing and Cisco rose, while JPMorgan fell.
He's got his list. And, he's checking it twice. He's not Santa. He's not on a buying spree. Wall Street Strategies Retail Analyst Brian Sozzi has been surfing the malls in and around the New York City metropolitan area. Sozzi, who is rated five stars by Starmine for accuracy, has been doing this every weekend this season.
Critics say more studies are needed on the effects of formaldehyde in textiles, including a closer look at the effects of cumulative exposure, the New York Times reports.
Even if Google doesn't buy Groupon, the talk of a potential multi-billion dollar deal has created buzz for both the group buying site and its rivals. While Groupon and rival LivingSocial are by far the most popular in the emerging space, they aren't alone, and some suspect other sites such as SocialBuy, Tippr, and BuyWithMe could also be ripe for a takeover.
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Stocks rallied for second consecutive day following upbeat economic reports that revived hopes of a stronger U.S. economy and news the European Central Bank was buying euro zone debt. Home Depot and Alcoa rose, while Kraft fell.
Stocks continued their December rally Thursday, led by banks and homebuilders, following a handful of positive economic reports that revived hopes of a stronger U.S. economy and news the European Central Bank was buying euro zone debt. Home Depot and Alcoa rose, while Cisco fell.
Options trader Jon Najarian explains why there might be strong options activity in this company.
Stocks gained after a surprisingly upbeat report from the housing market and as a stream of stronger-than-expected retail sales reports signaled a bright start to the holiday season. Bank of America and Home Depot rose.