Losing Streak Ends on Tuesday; Retailers Beat Estimates (BBY, WMT)
Stocks finally climbed for the first session in five on Tuesday. Several retailers beat expectations today with earnings reports, including Best Buy (BBY) and TJX Cos (TJX). J.C. Penney (JCP) posted weak results but jumped on a revised outlook. Dick's Sporting Goods (DKS) fell nearly 7% after reporting it fell short of targets. Investors await tomorrow's minutes from the Fed and hope for clues as to when the planned taper will begin.The potential decrease in economic stimulus has worried many and caused oil futures to drop on Tuesday with the September contract ending at a two-week low.
Word on the Street
- Markets shake off earlier losses on retailer results and futures.
- Dick's Sporting Goods (DKS) hit hard by cautious consumer spending.
- Best Buy (BBY) posts revenue that beat expectations.
- What to look for in tomorrow's minutes from the Fed.
- Health insurance premiums rise 4%, much faster than wages.
- Wal-Mart's (WMT) Second Quarter Earnings Sink the Markets.
Published on Aug 20, 2013By InvestorGuide Staff