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:
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.
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