Daily Market Wrap: May 9, 2012 Wednesday, May 9, 5:07 PM ET
The markets managed to come off of their worst lows of the day but remained in negative territory, as concerns over the euro zone continue to weigh on the minds of investors.
On the economic front, weekly mortgage applications rose by 1.7 percent last week, according to the Mortgage Bankers Association.
Meanwhile, the Commerce Department is reporting a 0.3 percent in wholesale inventories in March, which was less than economists expected.
In earnings news, Macy's (NYSE:
M) beat expectations, thanks to strong online sales. The department store retailer also maintained its full year profit forecast.
DIS) also managed to beat earnings forecasts in the second quarter, prompting several brokerages to up their price target on the company.
Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings results from Kohl's (NYSE:
KSS) and Nordstrom (NYSE: JWN).
For Marketnewsvideo.com, I'm Sayoko Murase.
Wednesday Sector Leaders: Rental, Leasing, & Royalty, Precious Metals
Related symbols: HGT, MTR, ANV, MVG
Wednesday Sector Laggards: General Contractors & Builders, Sporting Goods & Activities
Related symbols: MTH, HXM, MANU, WBAI
Monday Sector Leaders: Rental, Leasing, & Royalty, Department Stores
Related symbols: REFR, NRT, JCP, SHLD
Wednesday's ETF with Unusual Volume: FEMS
Related symbols: FEMS, JASO, DANG, IMOS, XIN
Wednesday's ETF Movers: GDX, XBI
Related symbols: ASR.CA, DGC.CA, PBYI, ICPT, XBI, GDX
XLV, CHIX: Big ETF Outflows
Related symbols: XLV, CHIX, JNJ, PFE
Daily Dividend Report: CNI, MWE, SXL, CMA, DD
Related symbols: CNI, MWE, SXL, CMA, DD
Daily Dividend Report: MET, SPG, SO, NBL, SYK
Related symbols: MET, SPG, SO, NBL, SYK
Daily Dividend Report: OKE, NRG, HAS, ED, COL
Related symbols: OKE, NRG, HAS, ED, COL
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Daily Market Wrap: May 9, 2012
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