Wall Street gains as retail earnings highlight consumer confidence
- U.S. stocks turned lower on Thursday as the first contraction in the manufacturing sector in nearly a decade and uncertainty about future interest rate cuts overshadowed an initial boost from upbeat retail earnings.
“Manufacturing has been pretty weak across the globe for a while now and we are starting to see that bleed into U.S.,” said Joe Mallen, chief investment officer at Helios Quantitative Research. “It’s not unexpected, but definitely not good for prospects of our economy going forward.” Their comments sent jitters through markets ahead of a highly anticipated speech by Fed Chairman Jerome Powell on Friday at an annual gathering of central bankers in Jackson Hole.
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.
Target, Lowe's results boost Wall Street; stocks hold gains after Fed minutesWall Street's main indexes rose on Wednesday as upbeat earnings from retail...
Read more »
Asian stocks follow Wall Street lower before US Fed releaseEquities fell in Asia as investors took a step back after recent gains, with the focus now turning to a key speech by Federal Reserve boss Jerome Powell at the end of the week.
Read more »
St. Louis-based Rams fans win class-action suit
Read more »
Target shares open at record after blowing out Wall Street estimates for the second quarterTarget shares opened at record high after the retailer beat second-quarter earnings expectations and boosted its full-year estimates.
Read more »
'Don't short a dull tape' – Old Wall Street adage may explain the stock market's comebackTrading volumes this week are well below their recent averages and that means this comeback may be suspect.
Read more »