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Stocks rose again Wednesday after fresh data suggested that the economy is slowing. U.S. retail sales fell slightly in October, the first decline since March.
Producer prices fell 0.5% in October, marking the biggest drop since April 2020.
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Marketwatch:
Target (TGT): Shares were up 17%
Goodyear (GT): stock up more than 2%.
Nvidia (NVDA): stock dipped 1.7%
Plug Power (PLUG): Shares rose about 3%,
Siemens Energy (SMNEY), Shares rose over 9% https://t.co/ShdJlrYZOX (JD): shares rose more than 8%.#StocksToBuy pic.twitter.com/qRImUkMjZK— The_Journalbiz (@the_journalbiz) November 15, 2023
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That follows softer-than-expected U.S. inflation data on Tuesday that sent equities and bonds soaring.
Target (TGT): The retailer reported higher-than-expected earnings for the third quarter even as sales shrank heading into the holiday shopping season. Shares were up 17% in midday trading.
Advance Auto Parts (AAP): The company slashed its earnings forecast and lowered sales guidance for 2023 after swinging to a quarterly loss. Shares were up about 1%.
Goodyear Tire & Rubber (GT): The company said it is exploring strategic alternatives for some units, including its chemical business and the Dunlop brand of tires. Goodyear stock was recently up more than 2%.
Nvidia (NVDA): The semiconductor stock was down 1.7% after its recent hot streak.
Plug Power (PLUG): Shares in the hydrogen fuel-cell maker rose about 3%, extending a recent bout of volatility after Plug Power warned last week that it might go bust.
Siemens Energy (SMNEY): company said it is reviewing the structure of its wind-turbine business, a day after the German government agreed to provide a $8 billion backstop. Shares rose nearly 9% in Frankfurt.
JD.com (JD): The Chinese e-commerce company beat analysts’ estimates for quarterly profit and revenue. U.S.-listed shares in JD.com rose more than 8%.
