Tag: stock market

Shares of Macy’s Inc. fell 0.5% in the late session Friday amid reports it was having trouble with its credit card systems. A Macy’s spokesperson told CNBC it has taken longer than usual to process some credit and gift cards, but the retailer has added salespeople to its floors to try to help the issue. Macy’s customers took to Twitter to complain about the slowdown. Macy’s earlier this month reported third-quarter earnings above expectations, but quarterly sales missed the mark thanks to previously announced store closures.

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From:: Stock Market News

Stitch Fix Inc. shares closed at a record high Friday, a third straight trading day of gains since the company’s lackluster initial public offering last week. The company’s stock closed at $18.62, up more than 7% after touching an intraday record of $19.49, besting its first trading day high of $18.53. Investors sent the stock up 6.4% Tuesday and 10% Wednesday ahead of Black Friday. Though analysts interviewed by MarketWatch said the company is worth watching, its IPO was far from a textbook success. The S&P 500 index is up 16% this year.

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U.S. oil prices rose on Friday, settling at a 21/2-year high, as investors focused on a disruption to a major crude-oil hub in Oklahoma and looked ahead to a key meeting of the Organization of the Petroleum Exporting Countries next week. West Texas Intermediate crude oil trading on the New York Mercantile Exchange for January delivery finished up 93 cents, or 1.6%, at $58.95 a barrel. For the week, WTI crude oil, the U.S. benchmark, closed with a weekly climb of 1.8%, according to FactSet data.

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Two London underground train stations reopened Friday evening after police said they didn’t find evidence that shots had been fired in a busy shopping district. The Metropolitan Police shortly after 4:30 p.m. local time began responding to “numerous” reports of gunfire on Oxford Street and at the Oxford Circus Tube station. “To date police have not located any trace of any suspects, evidence of shots fired or casualties,” the Met said in a statement. “Our response on #OxfordStreet has now been stood down,” the police said in a follow-up statement on Twitter. The Oxford Circus and the Bond Street Tube stations are back in operation. The British Transport Police said there was one report of a woman sustaining a minor injury as she exited the Oxford Circus station.

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Shares of Amazon.com Inc. shot up 2.6% Friday, amid reports of strong growth in online holiday sales, to post their third-straight record close and 10th record since reporting blowout third-quarter results on Oct. 26. Amazon’s stock was the biggest percentage gainer of the SPDR S&P Retail ETF’s 87 equity components. The latest update from Adobe showed that total online spending on Thanksgiving rose 18% over last year to $2.87 billion, while Black Friday online sales had already reached $640 million by 10 a.m. ET. Separately, Amazon said Friday that it would offer those who spend $30 at a brick-and-mortar Amazon Books store a $10 discount to be used on Amazon’s website. Amazon’s stock has soared 22% since Oct. 26, while the retail ETF has gained 1.9% and the S&P 500 has tacked on 1.6%. During that time, Amazon’s market capitalization has ballooned by $102.91 billion to $571.50 billion.

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U.S. stocks closed higher on Friday, with the S&P 500 and Nasdaq Composite ending at all-time highs. All three main benchmarks posted their first weekly gains in three weeks. The S&P 500 gained 5.34 points, or 0.2%, to 2,602.42. The Dow Jones Industrial Average gained 31.81 points, or 0.1%, to 23,557.99. The tech-heavy Nasdaq Composite index advanced 21.80 points, or 0.3%, to 6,889.16. Retailers such as Macy’s Inc and Amazon.com. were in focus as the Black Friday shopping holiday kicks off. Macy’s Inc gained 2.1%, while Amazon.com rose 2.6%.

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From:: Stock Market News

Amazon.com Inc. said Friday that it would give shoppers who visit an Amazon Books store and spend $30 between Nov. 24 and Nov. 27 a $10 discount to be used on the e-commerce giant’s website. Amazon Books is cashless. Purchases can be made using a Prime member’s account or a card payment. Amazon has 13 Books stores nationwide with three stores in Maryland, Texas and Washington D.C. coming soon, according to the website. Amazon shares are up 2.3% on Friday and up nearly 58% for the year so far. The S&P 500 index is up 16.3% for the period.

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Gold futures closed modestly lower on Friday, in shortened trade following the Thanksgiving holiday Thursday. December gold settled down $4.90, or 0.4%, at $1,287.30 an ounce. After an up-and-down week, the yellow metal logged a roughly 0.7% weekly decline, marking its first weekly decline in three weeks, according to FactSet data. The exchange-traded SPDR Gold Trust , meanwhile, slipped 0.2%. Metals markets settled at 12:30 p.m. Eastern on Black Friday.

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London police on Friday said they were responding to reports of shots fired in the city’s busy shopping district and at an underground train station. There were no reports of casualties, the Metropolitan Police said in a statement. . “Police have responded as if the incident is terrorist related,” with both armed and unarmed officers on the scene, the Met said. Reports came in shortly after 4:30 p.m. local time about shots fired on Oxford Street and at the Oxford Circus Tube station. “Please continue to avoid the Oxford Street and Regent Street area. If you are in the area, go into a building and stay inside until further notice,” British Transport Police said on Twitter. The Oxford Circus and Bond Street tube stations were closed.

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A “notable shift” higher in cryptocurrency prices should be good for chip maker Nvidia Corp. , RBC Capital Markets analyst Mitch Steves said in a note Friday. A sharp rise for digital currency like ether, Monero, zCash and bitcoin gold in the past three weeks has helped bring down the time gap between mining these currencies and getting paid, Steves contends, which should at least maintain demand for Nvidia graphics processing units miners are using. “For illustrative purposes, when the price of Ethereum was at $300 the payback period was ~9.4 months; today, it is now ~5.6 months–a change we view as material,” Steves wrote. Nvidia, as well as rival Advanced Micro Devices Corp. , have received a boost this year from sales to cryptocurrency miners, who use their GPUs to help create the digital currency. Nvidia shares have more than doubled this year and AMD shares are up 0.2% while the S&P 500 index has gained 16%. RBC has a buy rating and $250 price target on Nvidia stock, which was trading about 0.8% higher Friday.

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