Arab Today, arab today energy retail shares lead us stocks higher
Last Updated : GMT 00:00:56
Arab Today, arab today
Arab Today, arab today

Energy, retail shares lead US stocks higher

Arab Today, arab today

Arab Today, arab today Energy, retail shares lead US stocks higher

The Dow Jones Industrial Average
New York - AFP

Wall Street stocks rose for the second straight session Tuesday, led by resurgent oil shares and retailers after a pair of US clothing chains raised their earnings forecasts.
Dow members ExxonMobil rose 1.8 percent and Chevron 3.4 percent, extending Monday's gains as investors continued to pile into the beaten-down sector.

Retail stocks jumped after Victoria's Secret parent company L Brands and teen retailer American Eagle Outfitters lifted their earnings forecasts, with the latter saying it was able to charge full prices and resort less frequently to promotions.

L Brands rose 3.0 percent, while American Eagle gained 7.9 percent. Among other retailers, Dow member Wal-Mart Stores added 0.9 percent, Target 1.3 percent and Best Buy 0.9 percent.

"Just about anything tied to the consumer is having an above-average day today," said Michael James, managing director of equity trading at Wedbush Securities.

The Dow Jones Industrial Average ended up 89.39 points (0.50 percent) at 17,918.15.

The broad-based S&P 500 rose 5.74 (0.27 percent) to 2,109.79, while the tech-rich Nasdaq Composite Index advanced 17.98 (0.39 percent) to 5,145.13.

Insurer American International Group (AIG) fell 4.4 percent as it rejected activist investor Carl Icahn's idea to split into three parts. AIG though reported a third-quarter loss of $231 million.

King Digital Entertainment, the creator of the "Candy Crush" game, jumped 14.9 percent on news it agreed to be acquired by Activision Blizzard for $5.9 billion. Activision fell 3.6 percent.

General Motors rose 0.6 percent and Ford gained 0.4 percent after both automakers reported their best US October sales in 11 years.

Car rental company Avis Budget plunged 11.4 percent as it projected full-year profit of $3.10-$3.25 per share, down from the August forecast for $3.15-$3.45. The company expects a negative hit from foreign exchange fluctuations of 20 cents per share.

Fitbit, maker of wireless fitness trackers, fell 8.6 percent despite projecting better-than-expected profits. Analysts pointed to concerns about high valuation and to a plan to sell some 24 million additional shares, including from a follow-on equity offering after the recent IPO.

Bond prices fell. The yield on the 10-year US Treasury rose to 2.21 percent from 2.18 percent Monday, while the 30-year advanced to 3.00 percent from 2.95 percent. Bond prices and yields move inversely.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today energy retail shares lead us stocks higher Arab Today, arab today energy retail shares lead us stocks higher

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead

GMT 05:34 2017 Tuesday ,21 February

7 firms to list on 2nd Saudi stock board

GMT 19:53 2017 Monday ,20 February

Large stocks fall pushing down Nairobi bourse

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday