The stock market was mixed today as news out of Washington caused a brief concern for investors. The focus then turned back to the S&P 500 setting the new record for the longest bull market in history. Officially the bull market has now lasted 3,453, posting gains of over 300%.
The Dow 30 was lower by 88 as it floundered around most of the day. The S&P 500 lost 1 and the Nasdaq 100 added 29 thanks mostly to a handful of tech stocks. Investors mostly expect that this week will be slower thanks to the summer time coming to an end. Traders look for a pickup in activity just after Labor Day.
The Federal Reserve reserve released their notes from their August meeting today. Investors chose to focus on the comments from them that they thought the trade war is currently the biggest threat to the "strong US economy."
Retail stocks were the focus, as expected thanks to earnings from some bigger names in the space. Target (NYSE: TGT) reported earnings that came in better than expected. Revenue came in $500 million higher than expected thanks to sales growth which was the best it's been in 13 years. This sent shares to new highs, gaining 4% in the process, making it the second best performer in the S&P 500 today.
Lowe's (NYSE: LOW) also enjoyed healthy gains today as they reported earnings that came in better than Wall Street's estimates, pushing shares to new highs, making it the best performer in the S&P 500 today. Revenue was also higher than expected and the CEO commented that the company "Capitalized on delayed spring demand."