The unemployment numbers were the big media focus today as other news was rather light. This will change as we head into next week as we begin earnings season. Traders responded bullishly to the Unemployment numbers sending the market to new highs on the week.
The Dow 30 added 253, the S&P 500 gained 32, and the Nasdaq 100 popped 79. Next week the focus will turn to earnings reports due out for the second quarter 2016.
PriceSmart (NASDAQ: PSMT) suffered a 8.91% decline today after missing bottom-line estimates for the quarter. The company reported that operating income declined by 17.9% year-over-year while net income fell 20.8% over that same period. Shares closed at new monthly lows on above average volume.
DuPont (NYSE: DD) out performed the broad market rally today (2.86%) after the company was ordered to pay $500k in punitive damages in a case corresponding to side-effects from its Teflon chemical. The rally came because the award was seen as a significant win compared to the consensus for a much harsher monetary penalty.
Car rental companies Avis Budget (NYSE: CAR) and Hertz Global (NYSE: HTZ) traded higher today as Hertz disclosed that Carl Icahn and other related parties entered into confidentiality agreements with the company. Shares of Hertz were up 10.14% today on the news.
Retail ETF SPDR S&P Retail ETF (NYSE: XRT) shot up 2.60% today partially as Gap (NYSE: GPS) rallied 4.95%. Buyers jumped in today after the company reported above-consensus same store sales for June.