Reuters - Video

EDITION: U.S. | U.K. | IN

Business

Retailers not enough to renew buying

Wednesday, Feb 26, 2014 - 02:00

Feb. 26 - Summary: Strength in retail was not strong enough to lift the market to new highs for a second day; New home sales surprisingly surge in January. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

U.S. stocks were stuck in neutral with investors still not ready to push the S&P 500 to a record. Gains were tiny, but enough to send the Nasdaq to a fresh 14-year high. Surprise! Surprise! New homes sold like hot cakes in January, hitting a 5-1/2-year high, at the seasonally adjusted annual rate of 468,000. Most deals closed in the Northeast and the South, the two regions that took the hardest hit from unusually cold winter weather blamed for holding back most of the U.S. economy. The upbeat number comes sign, after sign of a housing slowdown following a run-up in mortgage rates and a pinch in properties on the market. Another big day for retail: After the bell, J.C. Penney says same-store sale will improve this year. Last quarter the struggling retailer posted an adjusted loss that was not as big as feared. The massive data breach that struck Target just before Christmas helped chop its quarterly profit nearly in half. The company says it can't put a tab on possible costs related to the intrusion and warned that could hurt future profits. But shares of Target, one of the biggest net gainers at the New York Stock Exchange on relief the results weren't much worse. Strong sales growth at Lowe's showed that the No. 2 U.S. home improvement retailer was getting closer to market leader Home Depot. But the holiday quarter did not go as well as expected for TJX. The parent of TJMaxx also warning of lower than anticipated full-year results. Rounding up other earnings: Dollar Tree rallied roughly 5 percent thanks to an uptick in same store sales... Abercrombie and Fitch surged 11 percent after a tumble in sales was not as dire as feared... Chesapeake Energy lost close to 5 percent after swinging to a quarterly loss... and First Solar slumped 9 percent on a drop in net income. European stocks dipped, with shares in luxury goods makers under pressure due to large exposure to emerging markets.

Retailers not enough to renew buying

Wednesday, Feb 26, 2014 - 02:00

Top News »

Investing 201 »

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Money Clip »

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)