Stock Market News: Shell Seeks to Sustain Dividends; RH Sees Sales Pressure
The stock market had a mixed performance Tuesday morning, climbing back from a weaker open at the beginning of the day's trading. The constant rise in COVID-19 cases in the U.S. and elsewhere around the world has investors worried about the economic impact of the coronavirus pandemic, and market participants aren't certain whether efforts to stimulate the economy and provide financial relief will be enough to prevent a recession. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 25 points to 22,352. The S&P 500 (SNPINDEX: ^GSPC) gave up a point to 2,621, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 35 points to 7,810.
The big plunge in crude oil prices has put energy companies in a financial bind, but the biggest companies in the world are still making efforts to avoid forcing their shareholders to endure dividend cuts, and Royal Dutch Shell (NYSE: RDS.A) (NYSE: RDS.B) gave investors a vote of confidence on that front. Meanwhile, luxury retailer RH (NYSE: RH) dealt with significant share-price declines after reporting its latest financial results -- while admitting the difficulties in predicting how the remainder of 2020 will look.
Royal Dutch Shell saw its stock climb 5% in the wake of the oil giant's latest update on business conditions. Although the release had a lot to say, the fact that it didn't mention a dividend cut seemed to bolster views on the stock.
Source Fool.com
