The stock market fell on Wednesday as a poor earnings report from Macy's cast doubt on the outlook for consumer spending, a vital component of the U.S. economy.
Other department store stocks also fell after Macy's reported disappointing earnings for the second quarter and cut its forecast for the year.
The stock market's early summer rally has fizzled out after a strong July, and August is shaping up to be a lackluster month as many traders and investors take their summer breaks. The major indexes have drifted lower in the past week after climbing to all-time highs at the start of the month. Continue reading "Stocks slump on Wall Street"
(RTTNews) - Stocks moved notably lower over the course of the trading day on Thursday after turning in a mixed performance in the previous session. Disappointing jobs data weighed on the markets along with continued worries about Europe.
The major averages moved roughly sideways going into the close of trading, stuck firmly in negative territory. The Dow fell 115.30 points or 0.9 percent to 13,057.46, the Nasdaq slid 20.27 points or 0.7 percent to 3,053.40 and the S&P 500 slid 11.41 points or 0.8 percent to 1,402.08. Continue reading "Stocks Close Firmly Negative"
Stocks moved mostly higher over the course of the trading day on Thursday after initially showing a lack of direction. The markets benefited from a positive reaction to quarterly results from Cisco (CSCO) as well as remarks by German Chancellor Angela Merkel.
The major averages pulled back off their highs going into the close but remained firmly positive. The Dow rose 85.33 points or 0.7 percent to 13,250.11, the Nasdaq jumped 31.46 points or 1 percent to 3,062.39 and the S&P 500 advanced 9.98 points or 0.7 percent to 1,415.51. Continue reading "Stocks Break Sideways Trend With Strong Upward Move"
(RTTNews) - After moving sharply lower at the start of trading on Monday, stocks regained some ground over the course of the session but still ended the day firmly in the red. Renewed concerns about the financial situation in Europe weighed on the markets.
The major averages moved roughly sideways going into the close of trading, stuck firmly in negative territory. The Dow fell 101.11 points or 0.8 percent to 12,721.46, the Nasdaq slid 35.15 points or 1.2 percent to 2,890.15 and the S&P 500 dropped 12.14 points or 0.9 percent to 1,350.52. Continue reading "Stocks Close Firmly Negative But Well Off Worst Levels Of The Day"
The September NASDAQ 100 closed higher on Thursday as it extended the rally off last week's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off last week's low, gap resistance crossing at 2686.50 is the next upside target. Continue reading "Market Close for 7/19/2012: S&P +3.73 DOW +34.66 NAS +23.39"