Stocks Rebound on Earnings Data
Stocks turned a corner on Tuesday and headed back to higher ground following some positive earnings data. The Dow Jones Industrial Average added 82.60 points to end the session at 9,217.94. About four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a light 652.8 million shares. Bank stocks rose after Bank of America (BAC) and JPMorgan Chase (JPM) reported that credit card losses are slowing. Today's session brought some better news from the retail sector and investors used it as an opportunity to move back into the market. Home Depot (HD) and Target (TGT) started the session off on the right foot after both companies reported results that beat Wall Street's expectations. Despite the news, investors are still concerned about consumer spending and the economy as a whole. An unexpected dip in the construction of new homes and apartments wasn't enough to spark another selloff. In global trading, European and Asian markets climbed. The dollar lost ground against other major currencies, while gold prices rose.
Latest Economic Data
Home Builders Keep Gaining Confidence - In another sign that the worst of the housing woes have passed, the index that measures home builder confidence is once again on the rise.
Producer Prices Down More Than Expected - Inflation is taking a ride in the backseat. Wholesale prices paid to producers were down 0.9 percent in July.
Recovery begins, but recession leaves scars - The International Monetary Fund's top economist believes a global economic recovery is underway but warns that the growth path of the past may not return.
Homeowners Still Deluded - June produced a slew of mainstream media reports, screaming that housing recovery was well underway. But recovery doesn't mean health.
Stocks Making Headlines
Cardinal Health: Summer choppiness - Despite reporting a 14% decrease in fourth-quarter profits, Cardinal Health (CAH) raised its annual profit forecast for its first full year following the spinoff of its most profitable business.
Cardinal Rule: Always Beat The Doubters
TJX rises on value-seeking consumers - Bargain shoppers seeking out the best deals during the recession boosted TJX Cos. Inc. (TJX) second-quarter profit 31 percent.
Target Hits the Bull's Eye in the Second Quarter - Following in the footsteps of Wal-Mart (WMT), the second-largest US discount retailer reported 2Q profit that fell less than analysts estimated.
Video - Retail: Year-End Rebound?
Home Depot 2Q profit beats expectations - On the heels of Lowe's (LOW) earnings, Home Depot (HD) said that its fiscal second-quarter profit fell 7 percent, but topped expectations.
Other Juicy Tidbits
How Do You Steal 130 Million Credit Card Numbers? - US prosecutors have charged a Miami man in one of the biggest cases of identity theft in American history.
Did Big Government Save Us From A Second Great Depression? - Now that it looks as though the economy won't fall into the abyss, economists have stopped arguing about what the government should do to save us and started arguing about what the government did that saved us.
When Investing, Don't Sweat September
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Health Care Check-Up - What you need to know if you're just joining the debate now.
Can the Apple Touch Sell the Tablet? - The Mac and iPhone maker may join a host of tech players hoping to win big in tablet PCs, an area where some of the industry's biggest names have failed
13 Things a Burglar Won't Tell You - Should you spend your money on a home security system? A look inside a burglar's mind might help you decide.
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