U.S. stocks moved higher Thursday's as investors enjoyed a second day rally on the heels of Donald Trump's presidential election. Shares of European Banks including Deutsche Bank (DB) and Credit Suisse (CS) rose on hopes of less burdensome regulations under a Trump administration. Shares of Macy's (M) were in focus after reporting third quarter earnings of $0.17 a share, while analysts had expected $0.41. Revenue of $5.63 billion matched forecasts. The retailer raised its full year comparable store sales guidance, expecting a decrease between 2.5% and 3% for the year, compared to a previous forecast of a decline of 3% to 4%. ConocoPhillips (COP) is shedding as much as $8 billion worth of natural gas assets in an effort to slash its budget for 2017. Shares moved higher on the news. The oil company also unveiled plans to buyback $3 billion worth of stock. TheStreet's Scott Gamm reports from Wall Street.
More from Video
Amid the Selling, Here's the Big Question Now
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.