Notes on Today’s Market

The Dow is looking to extend its winning streak to 13 days in a row. Right now, the Dow is down but just by a tiny bit.

This morning, the government said that the economy grew by 1.9% in real terms in Q4, which is the same as the initial report. This is down from 3.5% growth in Q3.

We also learned that consumer confidence rose to its highest point in 16 years. For February, Consumer Confidence rose to 114.8. The number for January was revised up to 111.6.

After today’s close, Ross Stores and HEICO are due to report. This morning, shares of Target got slammed after they announced an earnings miss. Target said they’re adopting a new strategy to become more Walmart-y. In other words, they’ll try to be more competitive for lower end consumers. Target said they’re expecting to make between $3.80 and $4.20 per share this year. Wall Street had been expecting $5.37 per share. The stock is down 12%.

Posted by on February 28th, 2017 at 12:36 pm

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