Target Boosts Holiday Outlook as Stocks End Four Day Slide to End Day Mixed (TGT, COH)

Stocks manage to end a four day losing streak to finish the day mixed. Fears over debt issues in Ireland continue to weigh down stocks, as some investors contemplate the long term effects in Europe – countries abandoning the euro. Pure speculation at this point, but a far contrast from the optimism felt across the world after the Fed’s QE2 announcement two weeks ago. An uninspiring housing report did nothing to help boosts stocks, either. In corporate news, Target (TGT) announces better than expected earnings and increase their forecast for the fourth quarter as the holiday season kicks into full gear next week. Look forward to tomorrow, when General Motors’ initial public offering will take place, bring them back to the markets.

Word on the Street

• Continued tension over Ireland debt raises concerns European nations may abandon the euro altogether.
• Canada rejects the US’s push to sell more shares of General Motors when the IPO takes place later this week.
• Target (TGT) beats third quarter expectations and lifts their fourth quarter outlook on optimistic holiday sales.
• The Federal Reserve will now require banks to undergo a “stress test” as to whether they can withstand a financial recession, allowing those who pass to issue higher dividends.
• Crude oil plummets over anticipation the world’s leading energy consumer, China, will soon increase interest rates.
• The FDA warns alcoholic energy drink manufacturers of dangers their beverages can cause to consumers a few days after the popular Four Loko was banned in New York.
• High end hand bag maker Coach (COH) finished a strong fiscal year in June by crushing expectations – what should investors expect as the holiday season looms?

Interesting Tidbits

• Ready to venture on your own with a new business venture? These key tips to running a successful small business will help you succeed.
• Exchange trade funds have grown in popularity as an alternative to mutual funds – but are these easy investment tools hurting the market?
• Here’s a simple budget tip – shack up with your spouse. Research shows sharing expenses with your significant other can greatly reduce your money spent.

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