Where the Comment is King

THE NEWS COMMENTER

VOTE  (0)  (0)

Stocks Rebound Amid Gains in Big-Box Retailers: Markets Wrap

Added 08-16-22 01:04:03pm EST - “(Bloomberg) -- US stocks bounced higher as the latest round of earnings spurred gains in big-box retailers and emboldened risk sentiment.The S&P 500 rose, with a gauge of retailers rallying more than 2%. The Nasdaq 100 traded well…” - News.yahoo.com

CLICK TO SHARE

Posted By TheNewsCommenter: From News.yahoo.com: “Stocks Rebound Amid Gains in Big-Box Retailers: Markets Wrap”. Below is an excerpt from the article.

(Bloomberg) -- US stocks bounced higher as the latest round of earnings spurred gains in big-box retailers and emboldened risk sentiment.

The S&P 500 rose, with a gauge of retailers rallying more than 2%. The Nasdaq 100 traded well off session lows, while the Dow Jones Industrial Average outperformed, rising 0.7%.

Investors took heart from Walmart Inc. exceeding Wall Street’s diminished profit expectations and modestly improving its full-year forecast, while Home Depot Inc. posted results that beat estimates even as the US housing market shows signs of cooling off.

Those results helped spur gains in a swath of retailers, including the Target Corp. and Lowe’s Cos. ahead of their earnings due this week. Meme stock darlings Bed Bath & Beyond Inc. and GameStop Corp. also surged.

On the technical side, the gains have pushed the S&P 500 to levels above the 50-day moving average that have historically been a bullish sign over the next six months.

Read more...

If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

Comment Box is loading comments...

CLICK TO SHARE

BACK TO THE HOME-PAGE