The S&P 500 and the Dow Jones Industrial Average retreated after touching record highs on Tuesday, hit by dour forecasts from retailers Home Depot and Kohl™s.
Shares of the largest U.S. home improvement chain fell 5.3% and were the top drag on the two main indexes after the company cut its 2019 sales forecast for the second time this year as its online push was not delivering as expected.
Also souring the mood was Kohl™s Corp, which slumped 17.8% as the department store operator slashed its annual profit forecast after falling short of quarterly comparable sales and earnings estimates.
Six of the 11 major S&P 500 sectors were lower, with the consumer discretionary index™s 1% drop weighing the most.
Other retail stocks also fell on the news, driving the S&P 500 retail index down 1.2%. Investors await reports from Lowe™s Cos Inc, Target Corp and Nordstrom Inc among others this week.
At 10:30 a.m. ET the Dow Jones Industrial Average was down 64.44 points, or 0.23%, at 27,971.78, the S&P 500 was down 2.46 points, or 0.08%, at 3,119.57 and the Nasdaq Composite was up 11.13 points, or 0.13%, at 8,561.07.
Source : Reuters
RELATED NEWS
S&P 500, Dow close at new records, notch best weekly gains since August
Saturday, 18 January 2020 04:19 WIBU.S. stocks closed at all-time highs Friday, marking the third-straight record close for the Dow and S&P 500, as investors cheered bullish economic data and continued to ride a wave of trade optimism. The Dow Jones Industrial Average rose 50 points, or 0.2%, to about 29,348, the S&P 500 ind...
Hong Kong Stocks End Week with Gains (REview)
Saturday, 18 January 2020 04:14 WIBHong Kong stocks finished Friday on a positive note, with investors retaining optimism over the outlook following this week's signing of the China-US trade pact that eased tensions between the economic superpowers. The Hang Seng index added 0.60 percent, or 173.38 points, to close at 29,056.42. Th...
Europe closes higher as China's GDP grows as expected; Stoxx 600 hit records high
Friday, 17 January 2020 23:56 WIBEuropean stocks closed higher on Friday after data showed China's economy grew in line with expectations in 2019, lifting global markets. The pan-European Stoxx 600 closed provisionally up by 0.9%, having notched a fresh record high earlier in the day. Basic resources stocks jumped over 2% to lead ...
Stocks cut earlier gains and are little changed
Friday, 17 January 2020 23:32 WIBStocks were little changed on Friday after hitting record highs as Wall Street wrapped up a solid weekly performance amid strong global economic data and a solid start to the earnings season. The Dow Jones Industrial Average traded just 2 points higher, or less than 0.1%. The S&P 500 was up 0.1...
Dow, S&P 500, Nasdaq Open at Intraday Records
Friday, 17 January 2020 21:50 WIBU.S. stock rose at the start of trade Friday, with the major benchmarks reaching new highs in just the third week of the year, after data on new U.S. home construction showed it surging to 13-year highs in December. The Dow Jones Industrial Average gained 0.1% at 29,334, the S&P 500 index rose ...
Gold prices finish lower as some upbeat economic data dull haven demand
Hong Kong Stocks End Week with Gains (REview)
Hong Kong Stocks Finish with Gains (Review)
Gold Prices Rose Amid Skepticism About U.S.-China Deal
Dow, S&P 500, Nasdaq Open at Intraday Records
S&P 500, Dow close at new records, notch best weekly gains since August
Saturday, 18 January 2020 04:19 WIB
U.S. stocks closed at all-time highs Friday, marking the third-straight record close for the Dow and S&P 500, as investors cheered bullish economic data and continued to ride a wave of trade optimism.
The Dow Jones Industrial Average rose 50...