It and the S&P 500 have risen in four of the last five days.
RegentAtlantic research director, Andy Kapyrin: SOUNDBITE: REGENTATLANTIC RESEARCH DIRECTOR, ANDY KAPYRIN (ENGLISH) SAYING: "Today's market action I think actually has a lot to do with Target because in addition to suggesting that Target and the legacy retailers can compete with Amazon on even terms, it also suggests that the consumer is fundamentally healthy." Leading the S&P's list of gainers: Target.
The discount retailer's shares catapulted to a record high.
Its quarterly profit shot up 17%, crushing analysts' forecasts.
It also raised its full-year profit forecast.
Expanding same-day pick-up services attracted new customers and turbocharged digital sales.
Lowe's shares also rose in double digits.
Like archrival Home Depot, focusing on higher-spending customers helped the home improvement chain drive quarterly profit past Wall Street's estimates.
Toll Brothers shares fell.
The luxury homebuilder's quarterly orders declined.
US stocks rose on Tuesday as investors weighed second-quarter earnings results for US banks against spiking coronavirus cases. JPMorgan gained after earnings beat Wall Street expectations. Wells Fargo slumped after reporting a loss and cutting its dividend. Coronavirus cases continue to climb in the US, forcing states to rollback reopening plans and threatening the economic recovery from the pandemic recession.
The S&P 500 ended lower Friday after a choppy session as investors weighed spiking cases of COVID-19 and Apple's announcement of fresh store closures against anticipated stimulus and continued economic recovery. Fred Katayama reports.
U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession was over or drawing to an end. Fred Katayama reports.
U.S. stocks rose Friday as a positive analysis on Gilead Sciences Inc's antiviral drug to treat COVID-19 helped to soothe investor worries over a record rise in coronavirus cases in the United States. Fred Katayama reports.
U.S stocks rose Wednesday and the Nasdaq hit a record closing high, supported by tech shares as early signs of an economic rebound offset concern about rising coronavirus cases across the country. Fred Katayama reports.
Delta Air Lines scaled back the flights it planned to add in August amid a surge in COVID-19 cases and warned it will be more than two years before the industry sees a sustainable recovery from the impact of the pandemic. Fred Katayama reports.
JPMorgan Chase, Citigroup and Wells Fargo collectively set aside nearly $26 billion for potential loan losses. As Fred Katayama reports, quarterly profit at JPMorgan and Citi tumbled while Wells Fargo swung to a loss.
The Shanghai Composite has soared 15% this month, but Invesco's Kristina Hooper says it's not too late to get exposure to Chinese stocks. She tells Reuters' Fred Katayama that they're the "stars" of the emerging market world.
Tesla cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the U.S. electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic. Fred Katayama reports.
Peaceful marches and demonstrations were marred by instances of looting and attacks on police officers as protesters decried police for the use of force against minorities. This report produced by Zachary Goelman.
Protesters, enraged by the death of an unarmed black man this week after a police officer pinned him down with a knee to the neck, used shopping carts to smash a police vehicle outside of a Target store in St. Paul, Minnesota on Thursday.
Protesters clashed with riot police firing tear gas for a second night in Minneapolis on Wednesday in an outpouring of rage over the death of a black man seen in a widely circulated video gasping for breath as a white officer knelt on his neck. This report produced by Zachary Goelman.
Elon Musk is officially richer than Warren Buffett. Tesla stock, of which Musk is the largest holder, continues to hit record highs. Musk is worth 70-billion dollars. Tesla stock is up 259% in 2020 compared with the benchmark S&P 500 index's 1% gain. Buffett, meanwhile, donated almost $3 billion of Berkshire Hathaway stock, causing his riches to shrink.
The S&P 500 and Nasdaq closed higher Wednesday to kick off the third quarter as increasing optimism for a safe and effective COVID-19 vaccine eased concerns that another round of business lockdowns was likely. Fred Katayama reports.
Economist Max Wolff of Multivariate thinks the S&P 500 should be trading at 2300 instead of 3150. He tells Reuters' Fred Katayama that investors are ignoring negative news about the rising coronavirus cases and the renewed trade tensions with China.
Amazon employees have been told to remove the short-video app TikTok from their devices immediately. According to CNN, TikTok is owned by the world's most valuable startup, a Chinese company named ByteDance. But TikTok does not operate in China and functions as an independent subsidiary. Its servers are based in the US and not subject to Chinese laws. However, other organizations have moved to ban TikTok.
Amazon's global ecommerce sales will reach $416.48 billion in 2020, according to Business Insiders latest latest estimates. Consumers are relying more heavily on e-commerce due to COVID-19. The new figure is about $12 billion more than our pre-pandemic estimates. Most of Amazon's sales come from the US. However, the pandemic has also fueled growth in Germany, the UK and Japan.
Florida Governor Ron DeSantis on Thursday spoke about reopening schools and told reporters, "We spent months saying that there were certain things that were essential. That included fast-food restaurants. It included Walmart. It included Home Depot... if all that is essential, then educating our kids is absolutely essential."
A wave of late-day jitters hit the stock market on Tuesday, as investors focused on a report questioning early-stage trial results for a possible coronavirus vaccine. Conway G. Gittens has the market action.
Home Depot's quarterly profit fell and missed estimates Tuesday, as the home improvement chain spent about $850 million on benefits for employees keeping its stores and warehouses running through the COVID-19 pandemic. Fred Katayama reports.