NEW YORK (AP) — Wall Street is ticking higher in early trading, on track for its first back-to-back gain in what’s been a miserable August. The S&P 500 was up 0.3% early Tuesday, coming off a gain powered by Big Tech stocks.
NEW YORK — Wall Street is ticking higher in early trading, on track for its first back-to-back gain in what’s been a miserable August. The S&P 500 was up 0.3% early Tuesday, coming off a gain powered by Big Tech stocks. The Dow was little changed and the Nasdaq composite was up 0.6%. Stocks have struggled this month as yields shot higher in the bond market. The yield on the 10-year Treasury was holding steady, a day after reaching its highest level since 2007.
Upward pressure on prices has eased significantly this year, even though consumer inflation accelerated in July to 3.2% from the previous month’s 3%. That's down from last year’s peak above 9% but more than the Fed’s 2% target. In corporate news, Macy's reported a loss of $22 million, or 8 cents per share, in its most recent quarter. Adjusted for a non-cash settlement charge related to pension obligations, earnings for the latest quarter were 26 cents per share. Like other retailers, Macy's saw revenue decline, to $5.28 billion from $5.83 billion from a year ago. Its shares fell 3.5% in premarket.
Shares in Dick's Sporting Goods tumbled 19% after the retailer badly missed Wall Street's earnings targets and cut its full-year profit outlook, citing worries over theft at its stores.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Wall Street holds firmer after three-week slide as Big Tech stocks reboundNEW YORK (AP) — Wall Street closed mixed, holding a bit firmer following its three-week losing streak. The S&P 500 rose 0.7% Monday as gains for Tesla, Microsoft and other Big Tech stocks lifted the index.
Read more »
Wall Street is declaring victory too early — the US is still headed for a recessionLeading economists say the threat of recession has passed, but there's a lot of reasons to think the worst is yet to come.
Read more »
Stock market today: Wall Street opens higher, clawing back some of August's lossesNEW YORK (AP) — Wall Street is ticking higher to claw back a bit of its deep losses for August so far. The S&P 500 was up 0.3% in early trading Monday, coming off its third losing week in a row. The Dow rose 21 points and the Nasdaq composite was up 0.4%. The relatively quiet trading followed a mixed performance for stock markets worldwide. The week’s main event for markets is likely to be a speech on Friday by Federal Reserve Chair Jerome Powell. The Jackson Hole, Wyoming, setting has been the
Read more »
Stock market today: Wall Street opens higher, clawing back some of August's lossesNEW YORK (AP) — Wall Street is ticking higher to claw back a bit of its deep losses for August so far. The S&P 500 was up 0.3% in early trading Monday, coming off its third losing week in a row.
Read more »
Wall Street’s most hated 3 letters prove too risky to ignore: ESGAs the label “ESG” ends up among the most hated on Wall Street, the financial cost of ignoring it is making headlines. Read more.
Read more »
Wall Street Sees No End to Yuan Losses Despite Beijing PushbackWhile Beijing moves to stabilize the yuan, Wall Street still sees plenty of room for the Chinese currency to fall.
Read more »