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The Demise of Sears Continues; S&P 500 Closes Above 1,992

By: , dated August 21st, 2014
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…”

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