Stock Market Today: Live Updates | Wilnesh News

Small-cap stocks outperformed mid-cap and large-cap stocks in midday trading on Thursday as investors felt reassured by stronger-than-expected July retail sales on the state of the U.S. economy.

The Russell 2000 small-cap index was recently up nearly 2.8%, while the S&P MidCap 400 was up about 2.1% and the large-cap S&P 500 was up about 1.4%.

For the week, small-cap stocks gained 2.9%, large-cap stocks gained 3.5%, and mid-cap stocks gained 2.6%.

In the small-cap space, growth stocks outperformed value stocks, with Vanguard Small Cap Growth Index Fund ETF up 2.5% Relative to 2.1% Vanguard Small Cap Value Index Fund ETF.

Evercore ISI economist Ed Hyman told clients in a note that Thursday’s three major news items amounted to a “hat trick of positive growth.”

In his report, Hyman cited stronger-than-expected retail sales, a drop in jobless claims and stronger sales at Walmart.

“The S&P reacted positively to this stronger set of data,” wrote Wall Street’s most-watched economist. “So today, good news is good news.”

——John Meloy

Morgan Stanley isn’t ready to upgrade Boeing Co. after its troubles this year, but expects the stock to be tactically bullish in the fourth quarter.

Analyst Kristine Liwag maintained her equal-weight rating on the plane maker after Boeing held its Bulls vs. Bears luncheon, where attendees debated the outlook for the troubled stock, which has fallen 30% this year. %above.

Analysts noted that during lunch, some bears ended up switching to the bulls’ view, while the bulls stuck to their guns. Regardless, analysts concluded that while some near-term upside is possible, there’s still too much uncertainty surrounding the stock to give it a rating.

“We conclude that we have seen significant volatility in Boeing stock and strong rotation pull in underperforming stocks. The seasonal trading pattern in Boeing stock over the past two years may apply to this year, providing a tactical basis for ‘s bullish sentiment analyst Kristine Liwag wrote on Thursday.

“However, over the long term, we still see a balanced risk-reward as significant uncertainty remains about Boeing’s long-term profitability,” Livag added.

Analysts’ $195 price target implies a 15% upside from Wednesday’s closing price. The stock was up 2.4% at midday.

—Sarah Min

An unexpectedly strong July retail sales report was backed by an incentive-fueled recovery in auto sales, data from LPL Financial showed.

Jeffrey Roach, the firm’s chief economist, said sharp gains in motor vehicle and auto parts sales underpinned the latest retail sales report, which showed a 1% rise in July, according to Dow Jones estimates. , while growth is expected to be 0.3%.

Economists pointed out that this was because new car sales incentives reached the highest level in more than three years, accounting for 7% of the average transaction price in July from 6.4% in June.

However, investors shouldn’t expect the data to change the Fed’s actions in September, especially since Atlanta Fed President Bostic said the central bank cannot fall behind the curve amid signs of weakness in the labor market.

“Investors should expect more volatility in the near term as economic data may send conflicting signals,” Roach added.

—Sarah Min

Walmart shares rose after second-quarter earnings per share and revenue beat expectations and same-store sales at Walmart’s U.S. stores were strong (up 4.2%, compared with Wall Street expectations of a 3.4% rise).

The country’s largest retailer also said it would raise its full-year guidance. While that sounds good on paper, the raise is a direct result of better-than-expected results in the first and second quarters. Walmart has not officially changed its guidance since first issuing its forecast in its fourth-quarter report in February. Today’s improved outlook takes into account not just a modest 2-cent profit this morning, but also a massive 8-cent-per-share gain in the first quarter and $2 billion in revenue growth three months ago.

Despite strong first-half results, the new full-year forecast actually points to a rather bleak second half. The retailer’s implied second-half EPS forecast appears to be $1.08-$1.16, well below the $1.19 consensus estimate. Walmart also gave third-quarter profit guidance that was below Wall Street expectations. Chief Financial Officer John David Rainey told CNBC’s Melissa Repko, “In this environment, it’s responsible or prudent to be cautious about the outlook, but We don’t expect a recession.

But investors appeared to ignore the tepid retail guidance this week. Despite the disappointing forecast, shares of Walmart and Coach parent company Tapestry both jumped sharply this morning. Home Depot’s stock price rose despite Tuesday’s gloomy outlook.

– Robert Hamm

Take a look at the companies making headlines in midday trading.

Walmart — Shares of the discount retailer rose 7% on strong earnings. Walmart beat Wall Street’s quarterly forecasts and raised its full-year forecast as consumers showed continued resilience. The company expects sales to grow 3.75% to 4.75% this year and adjusted earnings per share to be between $2.35 and $2.43.

Nike — The sportswear and sneaker retailer announced a new stake in the company after Bill Ackman’s Pershing Square Capital Management disclosed a new stake in the company via its latest 13F regulatory filing The company’s shares rose about 4%. The company has more than 3 million shares of Nike stock The filing revealed that the stake was worth about $229 million as of the end of June.

Ulta Beauty — Shares of the beauty retailer rose more than 11% after a regulatory filing showed Warren Buffett’s Berkshire Hathaway acquired a stake worth $266 million in the second quarter. The bet was relatively small for Berkshire Hathaway, whose stock portfolio is worth more than $300 billion, so Buffett’s deputies Ted Weschler and Todd Combs ) may buy the company.

The full list can be found here.

— Kim Ha Kyung

The yen fell 1.1% against the U.S. dollar on Thursday, last trading at 148.97 against the U.S. dollar.

The yen has depreciated 1.6% against the dollar so far this week, retracing its early August gains sharply. The yen has appreciated just 0.7% against the dollar this month.

The benchmark Nikkei 225 index rose nearly 5% this week as second-quarter GDP data came in better than expected.

shares Cisco Systems The network equipment maker’s fourth-quarter results exceeded expectations and said it would cut 7% of its workforce. Its stock price rose more than 7%, marking its best day since March 2020.

The company reported adjusted earnings of 87 cents per share on revenue of $13.64 billion. Cisco also reported its third consecutive quarterly revenue decline.

Shares have fallen about 3% this year.

shares SPDR S&P Retail ETF (XRT) It rose 3.3% in early trading and is expected to hit its best single-day gain in nearly a month. If this continues through the close, it would be the fund’s best day since July 16, when shares rose about 3.6%.

— Sean Conlon, Gina Francola

blue chip stocks Dow Jones Industrial Average Stocks rose 450 points, or 1.1%, on Thursday as weekly jobless claims and retail sales data came in better than expected. This is the sixth time in August that the average price of the market’s 30 stocks has risen by more than 400 points.

The Dow is up 2.4% so far this week and has managed to recoup most of its losses from the previous week’s massive sell-off. The major averages are currently down 0.9% for the month.

The Dow Jones Index started in the red in August, falling more than 400 points in the first three trading days. It fell to 1,034 points on August 5 and rebounded by 683 points on August 8.

(Correction: Post misstated the number of times the Dow rose this month.)

— Kim Ha Kyung

Stocks opened higher on Thursday as retail sales and jobless claims data came in better than expected.

The S&P 500 rose 1% and the Nasdaq rose 1.21%. The Dow Jones Industrial Average soared 400 points, or 1.23%.

— Brian Evans

Consumer spending rose more than expected in July, adding another piece of positive economic data for investors looking to extend the recent market rebound.

U.S. retail sales grew 1% in July, beating Dow Jones’s forecast of 0.3%. Excluding automobile-related data, sales grew by 0.4%, also better than expectations of 0.1%.

— Brian Evans

These are the stocks that saw big pre-market moves:

Read the full stock list here.

—Samantha Subin

Shares of Walmart rose more than 5% in early trading after the large retailer and Dow Jones component reported quarterly earnings that beat Wall Street expectations.

The major retailer raised its full-year forecast and reported improved sales and traffic to its website. Walmart said it currently expects full-year sales to grow by 3.75% to 4.75%, with adjusted earnings per share ranging from $2.35 to $2.43.

——Jeff Cox

Take a look at the companies making headlines in after-hours trading:

• Ulta Beauty – Warren Buffett’s Berkshire Hathaway acquired a new stake in the cosmetics company worth $266 million, according to a 13F regulatory filing, a move that will boost Berkshire’s It was only a small stake, and the company’s stock price rose by about 12%.
• Snowflake – Shares of the cloud company fell 1% after Berkshire Hathaway completely dissolved its stake in Snowflake in the second quarter, according to the latest regulatory filing.
• Cisco Systems — Shares of Cisco Systems rose 6% after the networking company reported better-than-expected fourth-quarter profit and revenue and an upbeat forecast. Cisco reported adjusted earnings of 87 cents per share on revenue of $13.64 billion, while analysts polled by LSEG expected earnings of 85 cents per share on revenue of $13.54 billion. This fiscal year, both revenue and profit fell from the previous year, the first decline since 2020.

For more information, please read here.

— Pia Singh