Midday Report: GameStop Beats on Nintendo Switch; U.S. Stocks Fluctuate
Major indexes fluctuate within a narrow range ahead of the Memorial Day weekend, putting the S&P 500 and Nasdaq at risk of snapping a six-day winning streak.
Major indexes fluctuated within a narrow range ahead of the Memorial Day weekend, putting the S&P 500 and Nasdaq at risk of snapping a six-day winning streak. They closed at fresh records a day earlier. Consumer sentiment ticked higher in May, according to the final reading from the University of Michigan. Views on current economic conditions weakened slightly, while expectations for the future rose. Deckers (DECK) surged after a better-than-expected fourth quarter and higher full-year guidance. The maker of UGG boots anticipates a narrower first-quarter diluted loss than analysts had expected. GameStop (GME) fell despite beating quarterly earnings and revenue consensus. Same-store sales grew just over 2%, largely tied to the launch of a new portable gaming console, the Nintendo Switch.
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