Stock Market News: Lowe's, Target Lead Retail Rebound
Investors have seemed uncertain lately about how key issues like trade and economic growth will affect stocks, and as a result, major market benchmarks have made somewhat jerky moves throughout the week. Wednesday morning was no exception, as initial fears about whether a trade deal between the U.S. and China will take place produced very modest losses. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 68 points to 27,866. The S&P 500 (SNPINDEX: ^GSPC) fell 2 points to 3,118, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved higher by 3 points to 8,574.
As earnings season winds down, market participants have paid close attention this week to the retail sector, and news from retailers earlier in the week wasn't all that good. Today, though, Lowe's (NYSE: LOW) and Target (NYSE: TGT) gave their shareholders something to smile about, and their outlooks suggest that investors shouldn't assume that the holiday season will be a dud for everyone across the retail sector.
Shares of Lowe's rose 5% after the home improvement retailer reported its third-quarter financial results. The company surprised investors with a strong performance, including a 36% jump in adjusted earnings per share compared to year-earlier figures.
Source Fool.com
