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Aug. 17, 2022, 4:37 p.m. EDT

U.S. stocks end lower as investors weigh Fed minutes, retail sales

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By William Watts and Isabel Wang

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A renewed round of meme-stock fever saw shares of retailer Bed Bath & Beyond Inc. /zigman2/quotes/209801102/composite BBBY -8.87% jump by another 27% on Wednesday, continuing a meteoric rally .

In economic data, U.S. retail sales were unchanged overall in July, though largely due to falling gasoline prices and fewer purchases of new cars and trucks. Economists polled by Dow Jones Newswires and The Wall Street Journal forecasted a 0.1% growth.

Retail sales minus autos rose 0.4% in July, while retail sales excluding autos and gas climbed 0.7% in July.

Companies in focus

  • Shares of TJX Companies /zigman2/quotes/203136811/composite TJX -0.19% gained 2.8% Wednesday, after the off-price apparel and home fashions retailer reported fiscal second-quarter profit that rose above expectations, while same-store sales fell more than forecast as “historically high inflation” hurt consumer spending, particularly for home goods. 

  • Shares of Blue Water Vaccines Inc. /zigman2/quotes/230728378/composite BWV -7.94% jumped nearly 200% Wednesday after the biopharmaceutical company said it plans to “explore the potential to develop” a new monkeypox vaccine.

  • Shares of FuboTV /zigman2/quotes/201214080/composite FUBO -6.59% fell more than 15% on Wednesday, despite the profitability road map laid out by the streaming service at its virtual investor day on Tuesday.

How are other assets faring

  • Oil futures rose, with the U.S. benchmark ending 1.8% higher at $88.11 a barrel.

  • The 10-year Treasury yield /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +1.53% rose 6 basis points to 2.882%.

  • The ICE U.S. Dollar index /zigman2/quotes/210598269/delayed DXY +0.08% was flat.

  • Bitcoin /zigman2/quotes/31322028/realtime BTCUSD -0.09% fell 2.6% to $23,284.

  • Asia markets were broadly firmer after Wall Street moved to a fresh three-month high overnight. Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.24% added 1.2% and Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.40% climbed 0.5%. In Europe the mood was more mixed, reflecting the dip in U.S. futures on Wednesday, and the Stoxx 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.58% finished 1% lower.

— Frances Yue and Jamie Chisholm contributed to this article.

/zigman2/quotes/209801102/composite
US : U.S.: Nasdaq
$ 3.29
-0.32 -8.87%
Volume: 8.35M
Dec. 6, 2022 12:49p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$290.11 million
Rev. per Employee
$213,428
loading...
/zigman2/quotes/203136811/composite
US : U.S.: NYSE
$ 79.31
-0.15 -0.19%
Volume: 1.76M
Dec. 6, 2022 12:49p
P/E Ratio
27.63
Dividend Yield
1.49%
Market Cap
$91.82 billion
Rev. per Employee
$144,912
loading...
/zigman2/quotes/230728378/composite
US : U.S.: Nasdaq
$ 1.16
-0.10 -7.94%
Volume: 150,547
Dec. 6, 2022 12:48p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$19.50 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/201214080/composite
US : U.S.: NYSE
$ 2.58
-0.18 -6.59%
Volume: 4.62M
Dec. 6, 2022 12:49p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$539.09 million
Rev. per Employee
$1.74M
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
3.57
+0.05 +1.53%
Volume: 0.00
Dec. 6, 2022 12:48p
loading...
/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
105.37
+0.08 +0.08%
Volume: 0.00
Dec. 6, 2022 12:39p
loading...
/zigman2/quotes/31322028/realtime
US : CoinDesk
16,954.75
-15.50 -0.09%
Volume: 0.00
Dec. 6, 2022 12:48p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
27,885.87
+65.47 +0.24%
Volume: 0.00
Dec. 6, 2022 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
19,441.18
-77.11 -0.40%
Volume: 3.55M
Dec. 6, 2022 4:08p
loading...
/zigman2/quotes/210599654/delayed
XX : STOXX
438.92
-2.55 -0.58%
Volume: 0.00
Dec. 6, 2022 5:50p
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