The modest rise in inflation could bolster chances of the Federal Reserve raising interest rates next month, but weak industrial output raised concerns about the robustness of fourth-quarter economic growth.
Advertisement
Regulatory filings revealed several big hedge-fund managers’ positions in stocks in the third quarter. But core inflation, which excludes volatile food and energy prices, advanced 0.2 percent from September and 1.9 percent from a year ago.
Seven of the 10 major S&P sectors fell, with the utilities sector’s 1.85 percent drop leading the decliners.
Retail, airline, and housing stocks are also seeing considerable strength, while gold stocks are bucking the uptrend amid a decrease by the price of the precious metal. This equates to the consensus earnings growth estimate for the last 12 months, and should not be mistaken for a long term growth estimate. The S&P 500 index showed three new 52-week highs and two new lows, while the Nasdaq recorded nine new highs and 46 new lows. Gold fell $15 to $1,068.60 an ounce, silver declined five cents to $14.17 an ounce and copper gave up one cent to close at $2.10 a pound.
The retailer reported net earnings of $1.73 million in 3QFY15, which represents a 12% over the year growth from 1.54 million in 3QFY14.
Home Depot Inc. (NYSE:HD) may begin to open new stores if its Tuesday’s forecast of $5.36 per share is achieved.
BETTER SALES: Wal-Mart Stores rose 4.9 percent after the company reported improved customer traffic and an increase in a key sales figure for the third quarter, even as a stronger dollar pressured its performance overseas.
Wal-Mart Stores rose 2.7 percent as it reported third-quarter earnings of $1.03 per share, five cents above expectations. Longbow Research restated a “buy” rating and issued a $130.00 price objective on shares of Home Depot in a research report on Friday, August 14th.
Comparable store sales in the quarter rose 5%. The stock added $1.76 to $59.63.
The company’s management also narrowed their full year guidance for fiscal 2016. Britain’s FTSE 100 rose 1.7 percent.
In Paris, CAC 40 index soared 114.21 or 2.4% to 4,918.52. The drop surprised economists, who had expected production to inch up by 0.1%. Average purchase price for the said period gained 0.8% to $58.03.
The company also doesnt expect any lasting impact on its business following the recent terrorist attacks. The stock had previously closed at $126.18.
The acquisition is part of the companys efforts to expand its reach in the Latin America and the Caribbean. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Cable and Wireless Communications Plc stock soared 6.7% to 78.71 pence on the news.
In Asia, Japan’s Nikkei 225 index rose 1.2% on expectations for further stimulus measures by the central bank after the economy slipped into a recession.
The Dow Jones Industrial Average added 6.49 points (0.04 percent) at 17,489.50.
Advertisement
In Tokyo trading, commodities and resource sector stocks led the gainers after crude oil extended gains for the second day in a row and increased 2.2%.
