Friends
Mixed earnings reports from retailers failed to temper the enthusiasm of the bulls today, quite the opposite of yesterday. Despite the mixed message from the retail sector, trade headlines or sometimes the lack thereof seems to be much more important to traders at this point. The feeling is that numbers will all have to be adjusted should a full trade war break out, and that results that we have seen recently just can’t tell a story with any accuracy. Perhaps, but for today at least, the rhetoric didn’t seem to put any additional fear into the hearts of market participants.
By the close, the Dow Jones Industrial Average was up 197 points to finish the day at 25,877. The S&P 500 was up 24 points to close at 2,864. Gold was down $3 to trade at $1,274 per ounce, while oil was down $.08 to trade at $63.02 per barrel WTI.
We have more retail earnings after the bell today as Nordstrom’s and Urban Outfitters both report, and then we get Target, L Brands and VF Corp tomorrow, Best Buy on Thursday and Buckle and Foot Locker on Friday. Home Depot’s and TJX’s earnings were pretty good this morning, while Kohl’s seemed to really struggle. It is indeed, a mixed bag for the retail sector. Let’s see what tomorrow brings.
Have a nice evening everyone.
