With traders seemingly reluctant to make any significant moves, stocks continue to show a lack of direction in mid-day trading on Friday. Nonetheless, the markets are largely holding on to the bulk of their recent gains.
On the heels of the violent clashes between local police and protestors in Ferguson, Missouri, Sen. Claire McCaskill, D-Mo., announced that she will hold a Senate hearing in September to examine the militarization of local police departments.
Stocks have shown a lack of direction in early trading on Friday after showing a strong move to the upside over the past several sessions. The major averages have been bouncing back and forth across the unchanged line.
Federal Reserve Chair Janet Yellen on Friday warned that rate hikes could come sooner than expected if the U.S. economic recovery is sustained.
"If progress in the labor market continues to be more rapid than anticipated or if inflation moves up more rapidly than anticipated, resulting in faster...
Women's apparel retailer Ann, Inc. on Friday reported an 8 percent decline in profit for the second quarter from last year, as higher sales were more than offset by soft traffic and lower margins. However, both revenue and earnings per share beat analysts' expectations. Looking ahead, the company forecast third-quarter revenue below Street estimates and also lowered its full-year revenue outlook.
After trending higher over the past several sessions, stocks may give back some ground in early trading on Friday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 19 points.
Power producer Dynegy Inc. (DYN) Friday said it has signed two separate definitive agreements to acquire the ownership interests in certain Midwest generation assets from Duke Energy Corp. (DUK), as well as EquiPower Resources Corp and Brayton Point Holdings, LLC from Energy Capital Partners or ECP.
Athletic apparel and footwear retailer Foot Locker, Inc. reported Friday a profit for the second quarter that increased 39 percent from last year, reflecting improved margins and sales growth. Sales at established stores also grew 7 percent. Both adjusted earnings per share and quarterly sales topped analysts' expectations.
Royal Bank of Canada reported Friday higher profit in its third quarter, benefited by significant growth in revenues. Adjusted earnings per share topped market estimates. Further, the company announced higher quarterly dividend.
Although easing of geopolitical tensions was a welcome respite for the markets, the mood is still cautious, given the uncertain economic backdrop. The major U.S. index futures point to a slightly lower opening on Friday after Asian stocks ended on a mixed note, while the European markets are seeing some...
London Stock Exchange Group Plc or LSE reported Friday higher profit in its first quarter as revenues were benefited by improved performance in most of its segments. In a separate press release, LSE announced a fully underwritten rights issue, to raise net proceeds of approximately 938 million pounds or $1.561 billion to be used to fund part of the consideration for previously announced deal.
European stocks are seen opening flat to slightly higher on Friday as a string of upbeat U.S. economic reports released overnight pointed to a strengthening economy. At the same time, the data fanned worries of an early rise in interest rates, making it all the more important for investors to watch out...
Salesforce.com reported a loss for the second quarter, hurt mainly by expenses, but its results topped Wall Street estimates. The company lifted its outlook for the full year.
Fashion retailer Gap Inc. said Thursday after the markets closed that its second quarter profit rose 10% from last year, helped by higher sales and a gain from asset sale. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarter sales. Separately, Gap announced plans to enter India through franchise-operated Gap brand stores in 2015.
Ross Stores Inc. (ROST) Thursday said its second-quarter profit improved from a year ago, as the discount apparel retailer's revenue grew above expectations with operating costs declining. Earnings for the quarter trumped Wall Street estimates. Moving ahead, the retailer lifted its full year outlook,...