Stocks aren’t seeing any follow-through today from yesterday’s rally, and while the session isn’t over, how the markets react after that rally will tell you everything you need to know about how “real” the rally itself was.
Meanwhile, there’s more M&A news, with H-P once again upping its bid for 3Par. Also, gold is back around its record closing price of $1,257 (currently at $1.253.90.)
That’s what we’re talking about on the Markets Hub.
So Costco and Family Dollar posted earnings today, and while the former saw a slight dip in earnings, the latter saw a sharp rise. What that says to us is that even within the discount retailing world, consumers are being more selective about how and where they spend their money.
And that, dear readers, is Tomorrow’s News Today. (Well, it’ll probably get off the front page by Alcoa, actually, but still, you get the point.)
Posted by Paul Vignaon April 09, 2009 Retail Sales /
No more ice cream for me; I'm deleveraging.
Retails sales in March overall were roughly in line with expectations, but there’s a wide divergence between the winners and losers, which illustrates just what consumers are, and aren’t, buying these days.
Overall, retailers’ same-store sales for March were down 1.8%, according to Thomson Reuters’ tally about an hour ago. Of the retailers, 54% topped expectations, and 46% missed. But the top sector, drug stores, outperformed by a 0.8% margin, while the worst, teen apparel, missed by a wide 13.6% margin.
J.P. Morgan reported some strong earnings today. But what this bloggers eye were some of the sub-numbers in the earnings report. The bank booked $1.8 billion in investment banking fees. But don’t be fooled – that wasn’t from big M&A advising. But $429 million was in advisory fees. Instead, that $1.3 billion + remaining fees […]
You can’t lie to the Internal Revenue Service. But can the IRS lie to you? Congress spent much of the day grilling IRS officials for the revelations that came out last week that the IRS was targeting conservative groups. And some lawmakers didn’t like the answers they were getting and accused IRS officials of lying. […]