Wall Street saw another day of nervous trading as investors assessed the likelihood of conflict with North Korea. Severe flooding in Houston and surrounding regions was also top of mind. Consumer confidence strengthened in August, sitting just below a 16-year high set in March. Economists had expected optimism to weaken slightly this month even with strong gains in the labor market and record highs for stocks. Best Buy Co. Inc. (BBY) was the worst performer on the S&P 500 even after besting second-quarter estimates. Same-store sales rose over 5%, more than double an expected increase. The electronics retail chain also increased full-year sales guidance. Movado Group (MOV) rocketed higher after blasting past quarterly estimates. Adjusted earnings of 43 cents a share came in 20 cents higher than expected. Movado also authorized a new share repurchase plan.
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.
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.
Email
Email sent
Thank you, your email to has been sent successfully.
