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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.

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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.

European Indexes Finish Higher In Active Trading

Jun 6, 2022
Barry Adams
European markets advanced in a broad rally supported by the advances in Asia and the U.S. Resource stocks led the gainers in London and financials and manufacturers led in Paris and Frankfurt.

U.S. Stocks Advance On China Optimism, JetBlue Sweetens Spirit Bid

Jun 6, 2022
Barry Adams
Stocks traded higher in early trading on China optimism. China eased mobility and gathering restrictions as coronavirus spread subsided. Investors also cheered the proposed U.S. roll-back of tariffs on imports from China.

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Weekly Losses in U.S. Indexes as Rapid Jobs Recovery Begins to Cool

Jun 3, 2022
Barry Adams
U.S. market indexes declined and closed down 1% in the week after investors focused on the Fed action following the stronger than anticipated jobs report.

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Lululemon Lifts Guidance, Premium Prices Do Not Deter Customers

Jun 3, 2022
Scott Peters
Lululemon sales surge as loyal customers continue to splurge on high-priced premium items. The company also said it plans to keep investing in China where it operates 71 stores.

LULU

Tech Stocks Drop 2% After Strong Jobs Report

Jun 3, 2022
Barry Adams
Cautious investors sold stocks and dragged the tech-heavy Nasdaq index down more than 2%. Employers added more than expected 390,000 net new jobs supporting Fed's case to lift rates higher and faster.

TSLA MSFT JOAN AAPL MU

Tech Rally Lifts Nasdaq 2%, S&P 500 Adds 1.4%

Jun 2, 2022
Barry Adams
The S&P 500 and Nasdaq Composite indexes accelerated gains after bargain hunters added exposure to tech and large cap stocks. Saudi Arabia led OPEC+ agreed to bring forward oil production increase in the next two months.

PVH Corp, Parent of Calvin Klein, Lowered Annual Outlook

Jun 2, 2022
Scott Peters
PVH Corp, the parent of Tommy Hilfiger and Calvin Klein, lowered annual earnings and sales outlook. In the latest quarter, the apparel maker's earnings were ahead of expectations.

PVH

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