Wall Street pulls closer to records after retailers top profit forecasts
NEW YORK — U.S. stocks ticked higher Wednesday after more big companies delivered profit reports that topped analysts’ expectations.
Target jumped 11.2% after the retailer said an important underlying measure of sales strength for the spring came in at the high end of its expectations, as traffic increased at both its stores and online. Its profit topped analysts’ estimates, and it raised its forecast for the full year.TJX, the company behind TJ Maxx and Marshalls, rose 6.1% after it likewise reported stronger profit for the latest quarter than expected.
Concerns have been particularly high for U.S. households at the lower end of the income spectrum. High interest rates instituted by the Federal Reserve have made it more expensive to borrow money, compounding the difficulty. The yield on the 10-year Treasury has been sinking since April on such expectations. It eased a bit further Wednesday, down to 3.79% from 3.81% late Tuesday.
On Wall Street, coal companies Arch Resources and Consol Energy saw their stocks swing after they said they were combining in an all-stock “merger of equals.” After merging, they plan to go by a new name, Core Natural Resources.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Wall Street drifts, and trading remains quiet as profit reports keep pouring inWall Street drifts, and trading remains quiet as profit reports keep pouring in
مزید پڑھ »
Chinese e-commerce group JD.com beats profit forecasts in second quarterChinese e-commerce group JD.com beats profit forecasts in second quarter
مزید پڑھ »
Super Micro slides after margin, profit forecasts disappointSuper Micro slides after margin, profit forecasts disappoint
مزید پڑھ »
Reddit forecasts quarterly revenue above estimates on strong ad spendReddit (RDDT.N) forecast third-quarter revenue above Wall Street estimates
مزید پڑھ »
Wall Street holds relatively steady ahead of big tests coming later in the weekWall Street holds relatively steady ahead of big tests coming later in the week
مزید پڑھ »
Wall Street holds firm after inflation data clears the path for cuts to ratesWall Street holds firm after inflation data clears the path for cuts to rates
مزید پڑھ »