GO
Loading...

Market's Three Day Losing Streak Ends

This post is from CNBC producer Robert Hum:

The Dow swung 911 points today, posting its biggest trading range since October 13. The index closed 11% above its session low, erasing yesterday’s losses and snapping a three-day losing streak. Shrugging off grim outlooks by Intel and Wal-Mart , as well as a disappointing jobless claims number, investors bought heavily into the market shortly after the S&P 500 fell through its October 10 low midday.

Take a look at how some of the sectors closed above their session lows today:

Energy +15%
Financials +14%
Retailers +14%
Techs +12%
Materials +12%

After the bellKohl’sQ3 EPS beat estimates by a penny. However, its guidance of $0.90-$1.05 for the fourth quarter falls significantly below the analyst consensus of $1.23. Kohl’s shares are trading 3% lower after hours.

Nordstrom’sEPS beat analysts’ estimates by a couple of cents, but it too issued guidance far short of estimates. Its Q4 guidance of $0.35-$0.45 falls way below the consensus analysts’ estimate of $0.70. The company also expects same-store sales to decline 13%-16% in the fourth quarter.

_____________________________
New from CNBC.com:

- The Dow 30 at a Glance

_____________________________


Questions? Comments? tradertalk@cnbc.com

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

Wall Street