The Dow 30 and the S&P 500 moved to fresh all time highs today as oil recovered quickly from yesterday's decline. The Dow 30 added 125, the S&P 500 gained 10, and the Nasdaq 100 gained 23. As we wrap up the week investors will focus in on Retail sales numbers, along with consumer sentiment numbers that are due out tomorrow morning.
Alibaba (BABA ) blasted off to a new 52-week high (5.08%) first thing this morning as the Chinese e-commerce giant posted a beat on both its top and bottom lines for the second quarter with revenue up an astonishing 59% thanks to strong mobile growth. The company said they also continued to add new users. The great news today helped push Yahoo (YHOO ) to new highs as well (3.36%)as they continue to own a stake in Alibaba.
Shake Shack (SHAK ) shares fell 6.17% today after the burger chain disappointed investors by missing same-store sales growth for the second quarter. However, earnings per share beat by a penny and revenue also topped estimates, jumping 37% from a year ago. Shares remain in a range just off their lows since its IPO last year.
Macy's (M ) enjoyed a very nice 17.15% gain today as the department store chain came in with earnings and revenue that topped analysts' estimates. Revenue was an issue though as Macy's reported that it fell nearly 4% from a year ago. The company also plans to close 100 stores and increase its investment in its online operations.
Kohl's (KSS ) also had a very positive day (16.17%) after the retailer reported better than expected earnings and revenue for the second quarter. The company claimed that hot weather helped traffic to its stores and the retailer kept a "tight lid" on inventory. However, the company cut its earnings outlook for the year as same-store sales fell more than expected.
