US stocks trimmed losses ending the session mixed ahead of a barrage of earnings from the nation’s biggest retailers and as oil prices ticked higher.
| ticker | Security | load | Change | change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGE | 32223.42 | +26.76 | +0.08% |
| SP500 | S&P 500 | 4008.01 | -15.88 | -0.39% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11662.790708 | -142.21 | -1.20% |
The Dow Jones Industrial Average notched a modest 0.08% gain by adding over 27 points. Meanwhile, the Nasdaq Composite slipped 1.2% and the S&P 500 0.4%. Energy and health care stocks rose, while discretionary and technology lagged within the S&P’s largest groups.
| ticker | Security | load | Change | change % |
|---|---|---|---|---|
| XLE | ENERGY SELECT SECTOR SPDR ETF | 82.91 | +2.13 | +2.64% |
| XLV | HEALTH CARE SELECT SECTOR SPDR ETF | 129.56 | +0.96 | +0.75% |
| XLK | TECHNOLOGY SELECT SECTOR SPDR ETF | 134.64 | -1.22 | -0.90% |
| XLY | CONSUMER DISCRETIONARY SELECT SECTOR SPDR ETF | 149.03 | -3.29 | -2.16% |
The team at Goldman Sachs, led by David Kostin, warned the S&P 500 could fall another 10% from current levels.
S&P 500
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In deal news, JetBlue disclosed it will take its offer for Spirit Airlines directly to shareholders.
| ticker | Security | load | Change | change % |
|---|---|---|---|---|
| JBLU | JETBLUE AIRWAYS CORP. | 9.45 | -0.61 | -6.06% |
| SAVE | SPIRIT AIRLINES INC. | 19.29 | +2.32 | +13.67% |
And McDonald’s announced it will exit Russia, selling all of its company-owned shops, which will incur a charge of about $1.4 billion.
| ticker | Security | load | Change | change % |
|---|---|---|---|---|
| MCD | MCDONALD’S CORP. | 244.04 | -1.00 | -0.41% |
Twitter shares dipped for a seventh session now down over 20% during the time frame.
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Among the big names reporting will be Walmart and Home Depot on Tuesday; Target, Lowes and TJX Companies on Wednesday; Ross Stores, BJ’s Wholesale Club, and Kohl’s on Thursday; and Foot Locker on Friday morning.
| ticker | Security | load | Change | change % |
|---|---|---|---|---|
| HD | THE HOME DEPOT INC. | 295.99 | -0.04 | -0.01% |
| TGT | TARGET CORP. | 219.25 | -0.48 | -0.22% |
| WMT | WALMART INC. | 148.21 | +0.16 | +0.11% |
| BJ | BJS WHSL CLUB HLDGS INC | 64.33 | +1.99 | +3.19% |
| RUST | ROSS STORES INC. | 91.81 | -0.25 | -0.27% |
| FL | FOOT LOCKER INC. | 30.43 | +0.65 | +2.18% |
Investors will pay close attention to the numbers, and especially guidance, for clues about the health of the consumer and the impact that inflation pressures, supply-chain constraints and a tight labor market are having on profitability.
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To date, 459 companies in the S&P 500, or just over 90% of the benchmark index, have posted January through March results, with the numbers coming in well ahead of forecasts.
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In energy trading, benchmark US crude rose over 3% to $114.20 per barrel, while Brent, the international benchmark, rose over 2% to $114.24.
In cryptocurrencies, Bitcoin hovered below the $30,000 level.
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The Associated Press contributed to this report.
