Stocks: Home Depot, Kohls, Energy Shares Weigh on Market




Stocks: Home Depot, Kohls, Energy Shares Weigh on Market


Investing.com – Stocks struggled to keep the big rally moving Tuesday, but weakness in retail stocks pulled the Dow lower and kept the S&P 500 in check.

The S&P 500 hit a new intraday high but just missed a new record close and sixth straight gain. The NASDAQ Composite and Nasdaq 100 indexes did close at record levels and hit new intraday highs.

The Dow Jones industrial fell 0.36% because of weak results and guidance from Home Depot (NYSE:HD). The 102-point loss was the first for the blue chips since Oct. 18.

The S&P 500 closed off about two points, or 0.06%, with the Nasdaq up 0.24% and the Nasdaq 100 up 0.12%.

Home Depot (NYSE:HD) shares fell 5.4% and subtracted 88 points from the Dow by itself. Discount department store chain Kohls (NYSE:KSS) fell a whopping 19.5% after missing Street estimates for fiscal third-quarter earnings.

The problems of the two stocks spread across retailing generally, causing declines in shares of Walmart (NYSE:WMT), Macy’s (NYSE:M) and Lowe’s Companies (NYSE:LOW), which reports quarterly results on Wednesday.

Commodity prices reacted to a threat by President Donald Trump to boost tariffs beyond levels scheduled to take effect on Dec. 15. Gold moved higher, but oil prices moved lower. West Texas Intermediate crude fell 3.1% in New York.

Oil stocks tumbled with crude and were the other big weight on stocks after retailers. Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Apache (NYSE:APA), Devon Energy (NYSE:DVN) and Halliburton (NYSE:HAL) were all lower.

But, overall, stock investors seemed less alarmed by the Trump threat.

Some good news hit the markets with bullish reports on housing starts and building permits, which should be helped by lower interest rates.

Boeing (NYSE:BA) shares were lower, however, after reporting new orders for its troubled 737 MAX jetliner and 787 Dreamliner.

Slack Technologies (NYSE:WORK) shares slumped after Microsoft (NASDAQ:MSFT) said some 20 million people now use its Teams messaging service, up 50%-plus since July. Microsoft was higher.





Related News

NFL notebook: Giants officially give Manning starting nod
Today, 02:09
Eli Manning will start at quarterback for the New York Giants against the Philadelphia Eagles on Monday night in place of rookie Daniel Jones, who has been ruled out with a high-ankle sprain, the team announced Saturday. Manning, 38, has not started
North Korea carries out 'very significant' test at satellite launch site: KCNA
Today, 02:06
SEOUL (Reuters) - North Korea has carried out a "very significant" test at its Sohae satellite launch site, state media KCNA reported on Sunday, a rocket testing ground that U.S. officials once said North Korea had promised to close. The
Australian firefighters try to control bushfires ahead of hot days
Today, 02:03
By Lidia Kelly MELBOURNE (Reuters) - Firefighters in eastern Australia used easing weather conditions on Sunday to bring bushfires under control ahead of forecast of soaring temperatures for next week. There were 96 fires burning in New South Wales,
Hong Kong gears up for mass rally as government appeals for calm
Today, 01:03
HONG KONG (Reuters) - Hong Kong was gearing up for a mass rally on Sunday that is expected to gauge support for pro-democracy demonstrations in the Chinese-ruled city as the government appealed to people to express their views peacefully. Police
Shooting near Mexico's presidential residence leaves four dead - local media
Today, 00:06
MEXICO CITY (Reuters) - A shooting on Saturday near Mexico's National Palace, the president's residence in the capital's historic downtown, has left four people dead and two people injured, Foro TV reported. Mexican President Andres



Latest News
NFL notebook: Giants officially give Manning starting nod
08.12.2019 02:09
Eli Manning will start at quarterback for the New York Giants against the Philadelphia Eagles on Monday night in place of rookie Daniel Jones, who has been ruled out with a high-ankle sprain, the team announced Saturday. Manning, 38, has not started since Week 2. He passed for 556 yards, two touchdowns and two interceptions before the Giants
Read more
North Korea carries out 'very significant' test at satellite launch site: KCNA
08.12.2019 02:06
SEOUL (Reuters) - North Korea has carried out a "very significant" test at its Sohae satellite launch site, state media KCNA reported on Sunday, a rocket testing ground that U.S. officials once said North Korea had promised to close. The KCNA report did not specify what was tested, but the site has previously been used to launch rockets
Read more
Australian firefighters try to control bushfires ahead of hot days
08.12.2019 02:03
By Lidia Kelly MELBOURNE (Reuters) - Firefighters in eastern Australia used easing weather conditions on Sunday to bring bushfires under control ahead of forecast of soaring temperatures for next week. There were 96 fires burning in New South Wales, home to Australia's largest city of Sydney, with only about a half contained and more than
Read more
Hong Kong gears up for mass rally as government appeals for calm
08.12.2019 01:03
HONG KONG (Reuters) - Hong Kong was gearing up for a mass rally on Sunday that is expected to gauge support for pro-democracy demonstrations in the Chinese-ruled city as the government appealed to people to express their views peacefully. Police gave the green light to Civil Human Rights Front (CHRF) - organizer of largely peaceful million-strong
Read more
Shooting near Mexico's presidential residence leaves four dead - local media
08.12.2019 00:06
MEXICO CITY (Reuters) - A shooting on Saturday near Mexico's National Palace, the president's residence in the capital's historic downtown, has left four people dead and two people injured, Foro TV reported. Mexican President Andres Manuel Lopez Obrador was traveling on Saturday.
Read more