BoJ Policy Sends US and Global Stocks Lower; Yen Rallies (LULU, DOLE)
US and global stocks retreated on Tuesday on central bank stimulus fears and the Bank of Japan's decision to make no changes regarding its monetary policy. The yen rallied the most it has in three years against the dollar after this news and the major US indices fell for a second day. Despite reporting higher net revenue and sales, Lululemon Athletica (LULU) tumbled nearly 17%. Dole Food Co. (DOLE) and Dollar General Corp. (DG) both jumped higher and were two of the market's best performers on Tuesday.It was also reported by the National Federation of Independent Business that small business optimism hit a one year high in May.
Word on the Street
- Bank of Japan disappoints with no new economic measures, weighs on global stocks.
- US wholesale stock rebounds in April from a previous large decline.
- Walgreen Co. (WAG) resolves federal charges with an $80 million settlement.
- Small business confidence hits a one-year high in May.
- Hormel Foods (HRL) Reports Mixed Earnings.
- An interview with former Fed president Gary Stern about QE3 policy and tapering.
- Advice from Jim Collins on how great leaders are able to direct their energy outward.
Published on Jun 11, 2013By InvestorGuide Staff