This thirty third trading week of 2012 comes to a close with investors assessing better than expected data on consumer confidence and leading indicators
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for Friday August 17, 2012.
The Dow Jones Industrial Average, the Nasdaq, and the S&P 500 edged higher for the week.
Crude oil futures are higher this week, trading around $95.96 per barrel on Friday afternoon.
Gold futures are lower this week, trading at $1614.90 an ounce in afternoon trading..
In notable economic news this week, Jobless claims climbed by 2,000 to 366,000 according to Labor Department figures. The four-week moving average dropped to 363,750.
In corporate news this week, Home Depot (NYSE:HD) announced that it earned $1.53 billion, or $1.01 per share, in its second fiscal quarter that ended on July 29, up from $1.36 billion, $0.86 per share in the same period last year. Analysts had expected earnings of of 97 cents per share. Revenue increased by 1.7 percent to $20.57 billion, below estimates of $20.74 billion.
Target (NYSE:TGT) announced that it earned $1.06 per share in its most recent fiscal quarter, versus the $1.01 per share that analysts estimated. Revenue was $16.78 billion. Analysts had expected $16.84 billion in revenue.
Lenovo Group (LNVGY), the world's second-largest PC maker behind Hewlett-Packard (NYSE:HPQ) announced that profit rose to $141.4 million for the quarter ending on June 30, up from $108.8 million in the same period last year. Analysts estimated earnings of $133.5 million.
Wal-Mart Stores (NYSE:WMT) announced that it earned $1.18 per share on $113.5 billion in revenue for its most recent fiscal quarter. In the same period last year, the company earned $1.09 per share on $109.4 billion revenue. Analysts had expected earnings per share of $1.07, and revenue of $115.75 billion. The company attributed the miss to the effects of currency translation.
Apple (NASDAQ:AAPL) saw its shares hit a record intraday high of $644.13 due to continuing chatter ahead of an expected iPhone 5 announcement early next month.
This is the 'Weekly Market Wrap' for Friday August 17, 2012. Please join us on Monday for the 'Week Ahead Market Report."
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