The markets returned to mixed after yesterday's unanimous bounce. The Nasdaq 100 was the only index in the green today as it gained 18. The Dow 30 and the S&P 500 on the other hand were lower by 54 and 3 respectively. Financials (NYSE: XLF) was the driving reason that the S&P 500 was unable to post any rally today as they have been over bought in recent days. Tomorrows economic news will look at building permits and manufacturing. Also, traders will focus closely on Federal Reserve chairwoman, Janet Yellen's discussion with congress tomorrow morning.
Lowe's (NYSE: LOW) shares suffered a 2.95% loss on the day today. The loss came as the home improvement company announced earnings that missed on both the top and bottom lines for the quarter due to "weaker than expected same store sales growth." The company also lowered its earnings outlook for the year. Yesterday, rival Home Depot (NYSE: HD) reported strong earnings results, though shares also sold off on the news.
Target (NYSE: TGT) blasted off over 6.44% today as the retailer raised its sales estimate for the holiday quarter and its earnings outlook for the year. This came after the company announced better than expected earnings and revenue for the third quarter. The company a profit that was up 11% from a year ago as "more consumers visited its stores during the back to school shopping season." Shares are now up over 15% from the lows just six days ago.
Cisco Systems (NASDAQ: CSCO) will be reporting first quarter earnings results after the close of trading today. Analysts are expecting that the networking gear company will earn $0.59 a share, which is no change from a year ago. The street is also in consensus that revenue will likely fall to $12.3 billion from $12.7 billion a year ago. Shares were flat today and remain just off their 2016 highs.