Stocks Rebound to Close Modestly Lower; HP Surges 17%
Ross Stores Inc
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If earnings are driving the rally, then next week is going to be very telling. "I want to be careful of some stocks," Cramer said.
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If earnings are driving the rally, then next week is going to be very telling. "I want to be careful of some stocks," Cramer said.
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Stocks closed lower Thursday, after the Dow and S&P 500 briefly touched fresh all-time highs. Meanwhile, the U.S. dollar rose above the key threshold of 100 yen for the first time since April 2009.
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Wall Street analysts got ahead of themselves with upbeat expectations, said AlixPartners' Managing Director Steve Nevill, noting that unemployment remained high, and consumers were still worried about their prospects.
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Initial claims for state unemployment benefits fell 4,000 to a seasonally adjusted 323,000, the lowest level since January 2008, the Labor Department said on Thursday.
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Where do stocks go next? Sell in May and ... look pretty stupid. S&P 500 up 2.2 percent so far. But it's early, no?
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A number of top U.S. retailers reported disappointing April sales as consumers gravitated toward discount chains and bad weather delayed spring shopping in much of the country.
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WASHINGTON, May 9- The number of Americans filing new claims for jobless aid fell last week to its lowest level in nearly 5-1/ 2 years, signaling labor market resilience in the face of fiscal austerity. The claims data provide another set of confirmation that the labor market is healing, "said Michael Strauss, chief economist at Commonfund in Wilton, Connecticut.
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*Buckle, Zumiez shares rise as sales top views. That was less than the 4.3 percent increase Wall Street expected. Wall Street got ahead of itself with upbeat expectations, said AlixPartners' Managing Director Steve Nevill, noting that unemployment remained high and consumers were still worried about their prospects.
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*TJX: Wells Fargo cuts to market perform from outperform-. *Kohl's Corp: Wells Fargo starts with market perform-. *Ross Stores: Wells Fargo transfers coverage with market perform- theflyonthewall.com* Lululemon, Macy's: Wells Fargo starts with market perform- theflyonthewall.com.
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CHICAGO, May 3- With consumer stocks blazing this year, it makes sense for investors to focus on retailers as the U.S. economy continues an inchworm-like recovery. But retail is a fickle business. The sectors have gained 14 percent and 17 percent year to date, respectively, through May 1, according to Standard& Poor's.
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*Angry scenes as building owner brought to Dhaka court. DHAKA, April 30- Rescue officials in Bangladesh said on Tuesday they had given up hope of finding more survivors from a garment factory complex that collapsed killing hundreds, as the government came under pressure to do more to enforce building safety standards.
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*Angry scenes as building owner brought to Dhaka court. The pledge from Britain's Primark and Canada's Loblaw came after the owner of the collapsed Rana Plaza was brought before a court in Dhaka on Monday, where lawyers and protesters chanted "hang him, hang him".
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*Third major industrial disaster in five months in Bangladesh. *Public anger sparks days of protests By Ruma Paul and Serajul Quadir.
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*Third major industrial disaster in five months in Bangladesh. *Public anger sparks days of protests By Ruma Paul and Serajul Quadir.
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By Ruma Paul and Serajul Quadir. DHAKA, April 29- Rescue officials in Bangladesh said on Monday they were unlikely to find more survivors in the rubble of a factory building that collapsed last week burying hundreds of garment workers in the country's worst industrial accident.
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*Owner of collapsed building arrested fleeing to India- police. Rana was arrested by the elite Rapid Action Battalion in the border town of Benapole, Dhaka District Police Chief Habibur Rahman told Reuters, ending a four-day manhunt that began after Rana Plaza, which housed factories making low-cost garments for Western retailers, caved in on Wednesday.
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DHAKA, April 28- The owner of a factory building that collapsed in Bangladesh killing hundreds of garment workers was arrested on Sunday trying to flee to India, as hopes of finding more survivors from the country's worst industrial accident began to fade.
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*Owner of collapsed building arrested fleeing to India- police* More than 900 missing, police say* Four pulled from rubble alive, four days after disaster By Ruma Paul and Serajul Quadir.
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By Serajul Quadir and Ruma Paul. DHAKA, April 28- Hope for survivors under the rubble of a building that collapsed outside the capital of Bangladesh faded on Sunday, and with more than 900 people still counted as missing fears grew that the death toll could rise far beyond the latest figure of 363..
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By Serajul Quadir and Ruma Paul. DHAKA, April 27- Two factory bosses and two engineers were detained in Bangladesh on Saturday, three days after the collapse of a building where low-cost garments were made for Western brands killed at least 352 people.