Bulletin
Investor Alert

Market Snapshot Archives | Email alerts

Aug. 25, 2021, 4:33 p.m. EDT

S&P 500, Nasdaq Composite extend record run as Dow posts 4th straight day of gains

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    Goldman Sachs Group Inc. (GS)
  • X
    American Express Co. (AXP)

or Cancel Already have a watchlist? Log In

By Joy Wiltermuth and Mark DeCambre

1 2

“Let’s face it second-quarter earnings are on the books and they are spectacular,” Karyn Cavanaugh, chief investment officer at Carolinas Wealth Management, told MarketWatch in an interview. “I think the bias is to the upside and I think we are going to continue to grind higher,” the CIO said.

Looking ahead, Fed Chairman Jerome Powell may give some clues as the timing of any tapering of its bond purchases on Friday at the annual Jackson Hole central bankers symposium, held online for the second year in a row.

“All eyes are on the Fed,” Quinlan said, adding that while Powell might hint on Friday about talk of tapering, that’s different than immediately tightening financial conditions. “There’s still a lot of liquidity looking for a place to go. And the first stop is U.S. equities.”

In COVID news, Johnson & Johnson /zigman2/quotes/201724570/composite JNJ +1.46% released interim clinical data that indicates Americans who have received its single dose COVID-19 vaccine should get a second dose. The company said that two studies examining people who had received its shot found that a second dose boosted antibody levels. The studies haven’t yet been published in a medical journal.

Which companies were in focus?

  • Nordstrom Inc . /zigman2/quotes/203902116/composite JWN -1.80% shares plunged 17.6% Wednesday after the department store reported quarterly sales that were down 6% from fiscal 2019.

  • Shares of Western Digital Corp . /zigman2/quotes/204213617/composite WDC +1.00% rose 7.8% Wednesday after talks of a more than $20 billion merger deal with Japan’s Kioxia Holdings Corp were reported by the Wall Street Journa l, citing people familiar with the matter.

  • Deere &Co /zigman2/quotes/207941296/composite DE -0.39% climbed 2.3% Wednesday after the agriculture equipment giant said it will increase its quarterly dividend payout to $1.05 a share, about an 17% increase.

  • Express Inc.   EXPR  shares slumped 11.6% Wednesday trading after the apparel retailer reported a surprise profit .

  • Dick’s Sporting Goods IncDKS shares soared 13.3% Wednesday after the athletic retailer reported record second-quarter profit and sales.  

  • Shoe Carnival Inc.   SCVL shares fell 6.4% Wednesday after the retailer reported second-quarter earnings and sales that beat consensus and gave an upbeat outlook.

  • Cassava Sciences Inc.  SAVA responded Wednesday to allegations posted overnight regarding the “accuracy and integrity” of trial data for its treatment of Alzheimer’s disease, saying it believed the claims are “false and misleading.” Its stock plunged 31.4%.

  • ICON Technologies Inc ., which uses jumbo-sized 3-D printers to build homes, said Wednesday it closed a $207 million series B round of investment led by Norwest Venture Partners, which is backed by Wells Fargo & CoWFC

  • “Meme” stocks are back in the spotlight, with GameStop Corp. GME off 5.1% on Wednesday and AMC Entertainment Holdings AMC stock off 0.7%.

How did other markets fare?

  • The benchmark 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -6.19% was at 1.342%, compared with 1.289% on Tuesday.

  • In Asia, Tokyo’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +1.00% closed 0.03% lower, while the Hong Kong Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.09% declined 0.13% and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.94% rose 0.74%

  • In Europe, London’s FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.10% closed 0.3% higher as the pan-European Stoxx 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.57% ended virtually unchanged, up 0.01%. France’s CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.44% finished 0.2% higher and Frankfurt’s DAX /zigman2/quotes/210597999/delayed DX:DAX -0.61% slipped 0.3%

  • Crude-oil prices ended higher, with U.S. benchmark oil /zigman2/quotes/211629951/delayed CL.1 -0.42% , West Texas Intermediate on the New York Mercantile Exchange up 1.2% to settle at $68.36 a barrel.

  • Gold futures settled lower Wednesday, with December gold /zigman2/quotes/210039437/delayed GCZ21 +1.22% down 1% to settle at $1,791 an ounce after ending above the $1,800 mark Tuesday.

Jack Denton contributed reporting

/zigman2/quotes/201724570/composite
US : U.S.: NYSE
$ 159.38
+2.29 +1.46%
Volume: 8.75M
Dec. 3, 2021 4:00p
P/E Ratio
23.82
Dividend Yield
2.66%
Market Cap
$413.55 billion
Rev. per Employee
$613,918
loading...
/zigman2/quotes/203902116/composite
US : U.S.: NYSE
$ 20.19
-0.37 -1.80%
Volume: 6.36M
Dec. 3, 2021 4:00p
P/E Ratio
515.05
Dividend Yield
0.00%
Market Cap
$3.27 billion
Rev. per Employee
$172,823
loading...
/zigman2/quotes/204213617/composite
US : U.S.: Nasdaq
$ 57.52
+0.57 +1.00%
Volume: 4.08M
Dec. 3, 2021 4:00p
P/E Ratio
12.14
Dividend Yield
0.00%
Market Cap
$17.75 billion
Rev. per Employee
$257,957
loading...
/zigman2/quotes/207941296/composite
US : U.S.: NYSE
$ 349.24
-1.38 -0.39%
Volume: 1.38M
Dec. 3, 2021 4:00p
P/E Ratio
18.39
Dividend Yield
1.20%
Market Cap
$108.71 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.36
-0.09 -6.19%
Volume: 0.00
Dec. 3, 2021 4:56p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
28,029.57
+276.20 +1.00%
Volume: 0.00
Dec. 3, 2021 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,766.69
-22.24 -0.09%
Volume: 2.72M
Dec. 3, 2021 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,607.43
+33.60 +0.94%
Volume: 37.76B
Dec. 3, 2021 3:02p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,122.32
-6.89 -0.10%
Volume: 576,941
Dec. 3, 2021 4:59p
loading...
/zigman2/quotes/210599654/delayed
XX : STOXX
462.77
-2.67 -0.57%
Volume: 0.00
Dec. 3, 2021 11:03p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,765.52
-30.23 -0.44%
Volume: 83,342
Dec. 3, 2021 6:05p
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,169.98
-93.13 -0.61%
Volume: 80,653
Dec. 3, 2021 6:30p
loading...
/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 66.22
-0.28 -0.42%
Volume: 429,169
Dec. 3, 2021 5:00p
loading...
/zigman2/quotes/210039437/delayed
US : U.S.: Nymex
$ 1,782.10
+21.40 +1.22%
Volume: 694.00
Dec. 3, 2021 4:02p
loading...

1 2
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.