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U.S. and European Markets Extend Weekly Losses to 6%

Jun 10, 2022
Barry Adams
Selling intensified for the second day in a row after the inflation report highlighted deeper problems beyond food and energy prices. For the week, the Nasdaq dropped 7% and the S&P 500 fell 6%. European markets extended similar losses as white-hot inflation envelops the globe.

European Markets Drop 3% On Rising Global Inflation

Jun 10, 2022
Bridgette Randall
European markets plunged after the U.S. inflation report confirmed the global inflation surge. Inflation pressures are not likely to subside in the near future as central banks around the world are lagging in response and have limited options in taming the 4-decade high food and energy price surge.

S&P 500, Nasdaq Drop After Inflation Surges to New 4-Year High

Jun 10, 2022
Barry Adams
Traders resumed selling on Wall Street and the S&P 500 and the Nasdaq indexes extended weekly declines of near 6.0%. The latest reading on inflation showed deepening and broadening of inflation while policymakers run out of options and rates drop more in negative territory.

Ahead of Inflation Data S&P 500 Plunges 2.5%. Nasdaq Down 2.8%

Jun 9, 2022
Barry Adams
Stocks came under heavy selling pressure in the final hour of trading ahead of the release of key inflation data on Friday. The closely watched consumer price index report will provide fresh insights into the strength of inflationary pressures across the economy.

Signet Jewelers Sales Jump 9%, Records $190 Million Gender Bias Settlement Charges

Jun 9, 2022
Scott Peters
Signet Jewelers quarterly sales rose 9% but same stores sales in the U.S. dropped 0.9% on fewer transactions. The diamond jewelry retailer reaffirmed full-year sales and earnings per share outlook.

SIG

Negative Sentiment Drives S&P 500 and Nasdaq Lower

Jun 9, 2022
Barry Adams
Stocks on Wall Street declined after the U.S. Treasury yields pushed higher and crude oil prices showed a positive bias. The European Central Bank said it plans to lift rates and lowered its economic growth outlook for the current and next two years.

Five Below Lowers Earnings and Sales Outlook

Jun 8, 2022
Scott Peters
Five Below said comparable sales declined and net income plunged as consumers turned more selective and restrained spending and wages and import costs rose.

FIVE


Ollie's Bargain Confronts Weak Consumer Spending and Higher Costs

Jun 8, 2022
Scott Peters
Ollie's Bargain said sales, earnings, and margins declined on lower comparable sales, weaker consumer spending, and rising inventories. The company expects gross margin to be stable at a lower level in the second quarter but held out improvement in the second-half.

OLLI

S&P 500 Drops 1% On Fears of Economic Slowdown

Jun 8, 2022
Barry Adams
Stock market indexes dropped 1% after bond yield rose and crude oil prices continued to advance. Mortgage application volume dropped to the lowest in 22 years.

European Markets Drop 1%, German Production Rises 0.7%

Jun 8, 2022
Bridgette Randall
The eurozone economic growth in the first quarter was revised higher and German industrial production rose less than expected 0.7%. Credit Suisse indicated a loss in second quarter. Inditext earnings jumped 80%.

U.S. Stocks Decline, Global Growth Estimates Lowered

Jun 8, 2022
Barry Adams
U.S. stocks looked down after the World Bank and the OECD lowered global growth estimates. The U.S. Treasury yields rebounded and crude oil inched higher above $120 a barrel.

U.S. Indexes Advance 1% After Volatile Session

Jun 7, 2022
Barry Adams
U.S. indexes closed higher in volatile trading and managed to shrug off the latest earnings warning from Target. Retailers and tech stocks rebounded, bond yields fell, and crude oil advanced.

J.M. Smucker Price Increases Drive Quarterly Sales and Income Higher

Jun 7, 2022
Scott Peters
JM Smucker said quarterly sales increase was largely driven by higher prices across all product segments but results were also negatively impacted by Jif peanut butter recall.

SJM

Stocks Waver After Target Cites Inventory Challenges

Jun 7, 2022
Barry Adams
U.S. stocks turned lower after Target issued an earnings alert and cited inventory challenges. Discount retailers have been struggling with inventory and supply chain issues leading to higher than expected markdown and order cancellations.

TGT UNFI WMT


U.S. Stocks Climb, Bond Yields Stay Above 3%

Jun 6, 2022
Barry Adams
U.S. stocks advanced despite the benchmark Treasury bond yields inched higher and above 3%. Crude oil was in focus after Saudi Arabia increased its premium for shipment to Asia.