The Markets were higher today but mostly stayed in a small range. The Dow 30 was higher by 11, the S&P 500 added 4, and the Nasdaq 100 was higher by 14. Investors continue to look towards the headlines that follow the meeting between Trump and China's Xi. Tomorrow we will also get a look at the unemployment rate which is foretasted to remain unchanged.
Sunoco (NYSE: SUN) was a bigger winner today, shooting above the 200 day moving average for the first time in two months. The move came after the company announced that it would be selling most of its US convenience stores to the owner of 7-Eleven in a deal worth over $3 billion. The purchase will allow 7-Eleven to expand its presence in the US. Shares of Sunoco surged higher today and are now back in the green for the year but not quite to the highs.
Bed Bath & Beyond (NASDAQ: BBBY) shares shot higher today after the reported a beat on both its top and bottom lines for its holiday quarter. Investors were still a little skeptical though as sales were only up 2.3% from a year ago, and the company also said it "expects profit to decline this year." Shares are lower on the year as most retail stocks are.
Yum China (NASDAQ: YUMC) was another big winner today as the restaurant holding company announced much earnings that were better than what Wall Street had expected. Profit rose almost 21% last quarter as margins improved thanks to a turnaround at its Pizza Hut chain. Shares blasted off to new highs on the day and were able to hold on to most of the days gains despite a little profit taking.