Stocks on Wall Street advanced after the release of personal income and consumption data. Retailers were in focus after American Eagle Outfitters, Big Lots, and Hibbett results disappointed investors. Costco same stores sales showed consumer strength.
U.S. market indexes advanced after retailers reported stronger than expected results at the top and bottom end of the consumption. Macy's, Williams-Sonoma, Dollar General and Dollar Tree results reassured investors.
U.S. stocks climbed higher after first-quarter GDP projection was revised to a larger decline and initial jobless claims fell. Dollar General and Macy's results lifted market sentiment. Tech stocks advanced after Broadcom agreed to acquire VMWare for $61 billion.
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Stocks traded lower and investors reacted to the latest batch of earnings and awaited details of the latest Fed policy meeting on May 4. Dick's Sporting Goods plunged 13% on cautious outlook.
Indexes in Germany and France fell after the ECB President raised the need to lift rates in tackling 4-deccade inflation. The British pound fell against the euro after the UK private sector expanded at the slowest pace in fifteen months.
European markets advanced after takeover and merger activities perked up. A private survey showed business confidence unexpectedly rose in Germany.
Asian markets were on the defensive after Beijing city imposed additional restrictions in 22 districts. Stocks in Japan gained after the Tokio Marine fiscal year net income more than doubled. Indexes in India were on the defensive.
Popular indexes after another day of wild swings stayed near the flat but extended weekly losses not seen in decades. The S&P 500 briefly touched the bear territory and the Dow logged its eighth weekly loss, the longest streak since 1932.