These 2 Hard-Hit Stocks Are Bouncing Back Big on Friday
Investors can expect a turbulent Friday on Wall Street, as comments from the Federal Reserve's Jackson Hole symposium are likely to move markets after central bankers reveal new insights on their plans for monetary policy. Early on, investors seemed somewhat nervous about what the session could bring, but a favorable reading on inflation in the latest economic data releases helped ease concerns. Shortly after the market opened, the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) were all little changed from where they finished Thursday.
However, a couple of companies reported their latest financial results, and good news spurred share-price increases. Both Farfetch (NYSE: FTCH) and Gap (NYSE: GPS) have taken some hits over the past year or more, but today's news seems to indicate growing confidence among their shareholders that the businesses could be gearing up for at least a modest recovery in the near future. Read on to learn more about what Farfetch and Gap told investors Friday morning.
Shares of Farfetch opened higher by 18%. Investors reacted positively to the luxury fashion platform provider's second-quarter financial results.
Source Fool.com
