Taper talk sets in as traders question whether the Federal Reserve will slow down its stimulus program in December.» Read More
As the Black Friday creep continues, Sears and Kmart announced Wednesday that they will kick off their deals one week early.
NEW YORK, Nov 13- The Dow and the S&P 500 ended at record highs on Wednesday, driven by gains in consumer discretionary shares after results from Macy's eased some worries about the holiday season.
The record price paid for a Francis Bacon work at Tuesday night’s Christie’s auction highlights the Fed’s failed efforts to boost the economy.
U.S. stocks turned higher on Wednesday, with the Dow and the S&P 500 positioned for record finishes, after upbeat earnings from retailing giant Macy's helped foster optimism about holiday shopping.
Macy's Inc stock shot up 9.7 percent to $50.81, after earlier touching a 52- week high of $50.95, and driving the S&P Consumer Discretionary Sector Index up 1.1 percent.
Nov 13- Macy's Inc on Wednesday reported a rebound in sales, helped by more promotions, and the U.S. department store chain said business was improving as the holiday season nears. "We have consciously gone after that opening price point business lately and have been very successful there," Chief Financial Officer Karen Hoguet said on a conference call.
Take a look at some of TKTK midday movers:
Nov 13- Perry Ellis International Inc slashed its full-year forecast due to lower sales of its private-label clothing, sending its shares down 23 percent to a near two-year low. Perry Ellis also reported weaker-than-expected sales in the first two quarters of the year.
*Fed Chairman Ben Bernanke to speak at town hall meeting. Investors awaited comments from Fed speakers, including Chairman Ben Bernanke, due to speak at 7:00 p.m. EST, for clues on the longevity of the Fed's stimulus, which has propped up the U.S. economy and equity market for much of the year.
Macy's was the first big retailer to report, and its results this morning were certainly encouraging.
NEW YORK, Nov 13- Wall Street was set to open lower Wednesday as uncertainty over how soon the Federal Reserve will begin to scale back its stimulus efforts curbed investors' appetite for risky assets. On Tuesday, Minneapolis Fed Bank President Narayana Kocherlakota and Atlanta Fed President Dennis Lockhart said monetary policy should remain accommodative.
Macy's reported quarterly earnings and revenue on Wednesday that beat expectations by a mile.
Nov 13- Macy's Inc on Wednesday reported higher-than-expected- quarterly sales and earnings, helped by more promotions and advertising, and the department store chain said business had improved as the quarter progressed.
U.S. stock index futures pointed to a lower open on Wall Street on Wednesday as investors digested mixed signals from the Fed.
Nov 13- Macy's Inc on Wednesday reported higher-than-expected third-quarter comparable sales, crediting more intense advertising and business that improved markedly in October. The department store operator said comparable sales rose 3.5 percent, while analysts were expecting them to be up 2.1 percent, according to Thomson Reuters I/B/E/S.
A whiff of Fed 'taper talk' and a 10-year note auction Wednesday should keep the stock market focused on interest rates.
Despite backlash, retailers such as Wal-Mart have been quick to offer associates pay benefits and other perks for giving up part of their Thanksgiving to work.
U.S. stocks climbed on Monday, with the Dow Jones Industrial Average extending its record rise, as Wall Street looked to earnings reports this week from retailers including Wal-Mart Stores and Macy's to get a read on consumer spending.
Along with Best Buy, JCP, Macy's and Kohl's, Target is the latest retailer to open earlier at 8 p.m. on Thanksgiving this year.
The "Fast Money" traders share their final trades of the day.