Despite Overseas Weakness, US Durable Goods Rise
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Clothing-store chain Gap delivered earnings and revenue that beat Wall Street expectations, an encouraging sign for the recovering retail sector.
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Are bonds about to lose their flight-to-quality premium? The Fed, the executive branch, the legislative branch, and now even the Bank of England (which cut its key rate a quarter point to 5.5 percent) are working to resolve credit problems. The 10-year is looking toppy here.
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Post an image of scantily clad supermodels, like I'm doing here, or run a video of the same and you are virtually guaranteed to get air time. CNBC will never get tired of airing stories about Victoria's Secret and its iconic runway show.
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The rally held. This was an important day, a day where the "sell in the last hour" juggernaut was broken, at least for the moment. There are many reasons, but short covering is the key: 1) Short covering in financials.
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Shares of retailers' stocks sank on Monday, after consumers swarmed stores on "Black Friday," the day after Thanksgiving, but focused on hunting for discounts.
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One of my mother's favorite lines is the one about not saying anything if you can't think of something nice to say. Well that was the story of the markets Monday. What a day of angst. Look at this headline from a note sent by MF Global's Andy Brenner Monday afternoon: "The market has traded like a crazed man with no liquidity." Yikes.
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Reversing the trade is the key story today: 1) The "buy tech, sell financials" trade--which has been astonishingly successful since July--is showing signs of unwinding as traders nibble on financials.
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Stocks fell for a second straight day, led by declines in the Nasdaq after tech bellwether Cisco Systems signaled the credit crisis was hurting demand from key customers, including banks.
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October was not kind to Wal-Mart even with the promotional pricing and marketing campaign that the world's biggest retailer has been pushing. The only sales growth at Wal-Mart stores was at its Sam's Club division (+2.7%) which helped boost the overall Wal-Mart comp to a meager .4% gain.
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Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
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A real food fight breaking out over the September retail sales numbers. No hiding the facts: they were below expectations, which had already been lowered. Men's Warehouse, American Eagle, Target, Limited, Nordstrom, JC Penney lowered earnings; Kohl's said earnings would be at the low end of the range.
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September comparable retail sales were generally lower than expected, even after numbers were lowered in the last week. Apparel companies like Limited, Chico's, Abercrombie, Gap and Limited missed, but so did Target, as did the department stores like Saks and Nordstrom.
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Stocks are squarely in positive ground this morning helped by a surprise comment from Wal-Mart that its earnings will be better than expected this quarter. Chain stores report monthly sales today and expectations have been low. Macy's for instance is down 2.7%, Limited was down 4%, Chico's is down 8.3% and Nordstrom cut its third quarter forecast.
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Warm weather left apparel retailers with a lot of unsold suits and sweaters in September. Limited, Chico's, Abercrombie, Gap and Limited missed. Men's Wearhouse cut its forecast for third quarter profits, citing "continued softening in traffic trends."
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No economic data today but it is quadruple witching expiration, the quarterly S&P rebalancing, and we are approaching the end of the quarter. The good news: for all the worries, the S&P 500 is up 1.02% for the quarter (as of yesterday). The bad news: without the big gains in energy, the index would be down 0.05%. Energy is the biggest sector gainer, up 9.8%.
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Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
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A surprise drop in U.S. jobs could scare consumers into shutting their wallets during the key holiday shopping season.
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Following are the days biggest winners and losers. Find out why shares of GameStop (GME), Limited Brands (LTD) and Sotheby's (BID) popped while Hot Topic (HOTT) and Crocs (CROX) dropped.
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Cramer makes the call on Boston Scientific, Spartan Motor, Frontline, UnitedHealth and more...Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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Retailers, including industry leader Wal-Mart Stores , reported June sales that topped Wall Street's lowered expectations on Thursday, raising hope for the back-to-school shopping season.
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It's spring cleaning in the summertime for retailers right now and profit taking time for investors in retail stocks (it would seem.) From what I'm hearing, the disappointing sales we saw today from Children's Place may be setting the tone when it comes to retail sales results. Same store sales declined 4% in June coming in below expectations. CEO Ezrah Dabah cited continued declines in mall traffic--NOT the weather, NOT high gas prices, NOT inventory management issues--for causing sales to fall off at the start of the summer.