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LIVE - Floor of the NYSE! May 18, 2018 Financial News - Business News - Stock News - Market News

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Financial News - Business News - Stock News - Market News - Stock Exchange

CLICK HERE➡ ➡ http://FinancialBuzz.com

Business News - Financial News - Stock News -- New York Stock Exchange -- Market News 2018

Business News - Financial News - Stock Exchange -- Wall Street -- Market News - New York Stock Exchange 2018

On Monday there wasn’t much economic news and markets remained steady after President Trump’s weekend tweet promised to help ZTE Corp get back in business fast. Investors interpreted the action as attempting to smooth trade talks between the U.S. and China. Oil rose on violence at the Gaza border as the U.S. moved its embassy to Jerusalem.

On Tuesday retail sales for April rose .3% on top of the prior month’s .8% gain and the Empire State manufacturing survey for May rose 4.3 points to 20.1. The housing market index for May rose 2 points to 70. The yield on 10-year Treasuries reached 3.07%, its highest level since 2011. Markets fell with the Dow Industrials losing 193 points.

On Wednesday housing starts for April fell 3.7%, lower than expected, to an annualized 1.287 million units and industrial production for April rose .7% on top of the prior month’s .7% gain. The EIA petroleum status report for the week ending May 11th saw crude oil inventory decline 1.4 million barrels. Markets advanced as Macy’s reported strong quarterly earnings.

On Thursday, jobless claims for the week ending May 12th jumped 11,000 to 222,000 and markets dropped as President Trump expressed pessimism that trade talks between the U.S. and China will be successful. In addition, investor concerns over the strengthening economy boosted the yield on 10-year Treasuries to 3.11%.

On Friday markets opened slightly lower as investors waited to see progress with trade talks. Now let’s take a look at some stocks.

Vipshop Holdings Limited (NYSE: VIPS), announced on Monday its unaudited first quarter financial results. Total net revenue increased over 24% year over year to $3.2 billion. Total orders increased by 25% year over year to 90.2 million from 72.1 million. Vipshop fell below $12 per share on Tuesday post announcement.

Macy’s, Inc. (NYSE: M) first quarter net sales totaled $5.54 billion, an increase of 3.6% year over year. The company’s operating income for the first quarter was $238 million, or 4.3% of sales, compared to $219 million, or 4.1% of sales from the first quarter of last year. Macy’s reached a new 52 week high of $34.87 per share on Thursday.

Walmart Inc. (NYSE: WMT) reported fiscal first quarter earnings on Thursday morning. Total revenue was $122.7 billion, an increase of $5.1 billion, or 4.4%. Net sales at Walmart International were $30.3 billion, an increase of 11.7%. The company generated $5.2 billion in operating cash flow. Walmart shares fell below $84 on Thursday.

J.C. Penney Company, Inc. (NYSE: JCP) announced Thursday morning, financial results for its fiscal first quarter. Total net sales decreased 4.3% to $2.58 billion compared to $2.70 billion a year ago. Cost of goods sold was 66.3% of sales, compared to 63.9% in the same period last year. J.C. Penney reached a low of $2.65 a share on Thursday.

Nordstrom, Inc. (NYSE: JWN) reported on Thursday first quarter net earnings of $87 million compared to $63 million during the same period a year ago. The company repurchased 300,000 shares of its common stock for $13 million, however, the company still has $401 million in funds to purchases more shares. Nordstrom fell below $48 per share after the announcement on Thursday.

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