Shoppers expect incredible bargains when they line up outside stores in the middle of the night after Thanksgiving. They may be disappointed.» Read More
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.
Stocks rose on Thursday as another decline in the price of oil buoyed hopes that consumer spending will recover. Also financial shares bounced back from a sharp two-day sell-off.
It didn't start out promising: CPI stronger than expected, jobless claims stronger than expected, but the market rallied quickly as bulls argued that inflation was peaking, that the U.S. is further along this weak economic cycle than anywhere else in the world, and the dollar rally would be helpful as well.
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The Dow made gains on Monday with investors believing the current down trend in oil improves prospects for consumer and business spending.
Retailers are typically obsessed with what to put under their roofs, not on them. Yet the nation’s biggest store chains are coming to see their immense, flat roofs as an untapped resource.
Stocks could sprint higher into the coming week, as a strengthening dollar and declining commodities prices encourage buyers hoping for a reprieve from inflation.
Early July sales results from retailers have been disappointing, with many falling short of analyst estimates. It also appears that the benefit from tax rebate checks is beginning to wane.
Investors will get a glimpse of how much cash-strapped consumers are willing to spend in the key back-to-school shopping season when major U.S. retail chains release July sales results Thursday.
Economics will be a far more important subject than fashion for retailers this year as cash-strapped U.S. consumers do their back-to-school shopping over the next several weeks.
Retailers, including Wal-Mart Stores, are posting solid same-store sales growth in June, as expected, as seasonal weather and tax rebate checks helped get consumers to the store.
U.S. retailers, led by the discounters, are expected to post slightly better June same- store sales this week, thanks to seasonal weather and rebate checks that have made their way to cash registers, mostly for basic items such as gasoline and food.
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Retailer Sears Holdings reported an unexpected first-quarter loss Thursday as sales fell at its Kmart and Sears stores and markdowns hurt margins, sending its shares down about 4 percent before the opening bell.
Stocks were juiced ahead of Friday's session as indexes sit at the highest levels since early January. But beware. Some traders are talking about the idea that as these highs are being reached, sluggish volume could be throwing up warning signs.
The Dow made double digit gains Thursday as a battle to control Yahoo boosted the technology sector and a pullback in oil eased concerns about inflation. What's the "Word on the Street?"
Stocks rallied for a second day Thursday as traders found cause for optimism and technology stocks blazed the trail.