Stock Market News: Shopify, Bed Bath & Beyond Show Both Sides of Retail's Transformation

Wednesday morning brought fresh new gains to Wall Street, as market participants continued to feel more confident that the COVID-19 outbreak won't turn into a worst-case scenario either for world health leaders or the global economy. Upbeat economic data from the U.S. also bolstered sentiment. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 199 points to 29,475. The S&P 500 (SNPINDEX: ^GSPC) rose 14 points to 3,372, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 36 points to 9,675.

Earnings season is winding down, but there were still a few stocks today that released results. Shopify (NYSE: SHOP) continued to benefit from the rise of e-commerce in the small and mid-sized business niche, while a warning from home goods retailer Bed Bath & Beyond (NASDAQ: BBBY) was the latest example of how brick-and-mortar retail establishments are still struggling.

Shares of Shopify jumped 12% after announcing fourth-quarter and full-year financial results. The numbers were surprisingly good, and the e-commerce tech specialist sees good times lasting into the coming year and beyond.

Source Fool.com