The Demise of Sears Continues; S&P 500 Closes Above 1,992
The S&P 500 rallied today to close above 1,992 for its 28th record high of the year. The Dow Jones also finished the day above 17,000 for the first time in a month. The better-than-expected economic data drove the stocks higher as the number of Americans filing jobless claims for the first time fell by 14,000 last week. Sears Holdings (SHLD) announced today that they lost $573 million last quarter, marking the company's 9th straight quarterly loss. Sears Holdings CEO, Edward Lampert, even stated that "our second quarter earnings are unacceptable..."
Word on the Street
- U.S. jobless claims fall more than expected.
- Sears (SHLD) posts 9th straight quarterly loss.
- 30-year mortgage rates drop to 4.1%, lowest in 2014.
- 14 stocks that perform best during market highs.
- Family Dollar (FDO) rejects Dollar General's (DG) buyout offer.
- Facebook (FB) slapped with European class action lawsuit.
- Dollar Tree (DLTR) reports 2Q earnings.
Published on Aug 21, 2014By InvestorGuide Staff