Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

U.S. Stocks Fall After Weak Target Earnings Drag Down Retailers

Stock Markets May 18, 2022 10:53AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Liz Moyer

Investing.com -- U.S. stocks fell on Wednesday after a weak earnings report from Target weighed on the retail sector.

At 12 PM ET, the Dow Jones Industrial Average was down 803 points, or %,2.4 while the S&P 500 fell 2.8% and the Nasdaq NASDAQ Composite was down 3.3%.

Target (NYSE:TGT) shares fell 24% after weaker than expected earnings. Supply chain and freight issues have weighed on retailers, but inflation is also taking its toll, forcing shoppers to make tradeoffs on discretionary items such as clothing and home goods. Lowe’s (NYSE:LOW) shares also fell 5.6%.

Other retail stocks took a hit from the weak numbers. Best Buy (NYSE:BBY) shares fell 9%, and Dollar General (NYSE:DG) fell 11%. Macy’s (NYSE:M) was down 6.7%.

The 10-year Treasury topped 3% briefly in the morning session.

Wednesday's action was a reversal of gains in recent days, though the indexes have been mostly down for over a month. 

Oil prices ticked lower. WTI fell 0.3%, to $109.17 a barrel, while Brent crude fell 0.4%, to $111.58 a barrel. Gold Futures fell 0.4% to $1,811 an ounce. 

Gasoline prices have risen consistently and are now averaging $4.567 a gallon nationwide, about 48 cents more than the same time one month ago and $1.52 a gallon more than drivers paid last year, just as the summer is getting started. Drivers in every U.S. state are now paying more than $4 a gallon.

 

U.S. Stocks Fall After Weak Target Earnings Drag Down Retailers
 

Related Articles

Israel stocks higher at close of trade; TA 35 up 1.79%
Israel stocks higher at close of trade; TA 35 up 1.79% By Investing.com - Jun 26, 2022

Investing.com – Israel stocks were higher after the close on Sunday, as gains in the Real Estate, Banking and Communication sectors led shares higher. At the close in Tel Aviv,...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (7)
Alan Rice
Alan Rice May 18, 2022 2:40PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
US Securities : -22 %/-20% to go. There may be some support there.
Bill Riley
Bill Riley May 18, 2022 11:46AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Walmart?
Thị Mỹ Thuận Trần
Thị Mỹ Thuận Trần May 18, 2022 11:46AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yesterday -16%, today -10%, ty -26%,
Shannon Layman
Shannon Layman May 18, 2022 11:38AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
$10.55 a gallon here in Canada
Brad Albright
Brad Albright May 18, 2022 11:38AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Canadians don't buy gas by the gallon.
Mr Doodl
Mr Doodl May 18, 2022 11:36AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I pay roughly 8$ per gallon, in europe. Land of the damned.
Maks Mars
Maks Mars May 18, 2022 11:31AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
E-commerce crashing very badly everyone aiming to tourism after 2 years of babau covid lol
Montgomery Lindeen
Montgomery Lindeen May 18, 2022 11:31AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thankfully I'm only paying 3.94 a gallon for gas
John Martin
John Martin May 18, 2022 11:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
No ones gives a **** about target ******.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email