Stock Market News: Here's What Sent RH and Western Union Skyward Tuesday
Tuesday morning brought some choppiness to Wall Street, as market participants tried to weigh countervailing factors against each other. Civil unrest in many major metropolitan areas in the U.S. continued, with the White House taking an aggressive stance in dealing with protesters. At the same time, investors remain hopeful about the reopening of the economy as part of the recovery from the coronavirus pandemic. Just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 149 points to 25,624, and the S&P 500 (SNPINDEX: ^GSPC) rose 6 points to 3,062. However, the Nasdaq Composite (NASDAQINDEX: ^IXIC) dropped 35 points to 9,517.
Despite the mixed markets, some stocks posted sharp gains. Two very different winners today were RH (NYSE: RH) and Western Union (NYSE: WU), and although they serve different target demographics, they're both moving forward strategically to try to take advantage of opportunities they see in their respective markets.
Shares of luxury retailer RH climbed more than 10% Tuesday morning. Investors were pleased to see the company double down on its efforts to dominate the luxury home furnishings space, with the release of RH's annual letter to shareholders offering a window into CEO Gary Friedman's thought process about the business and the fallout from the coronavirus crisis.
Source Fool.com
