Tuesday’s Market Highlights: Retail Strength Offsets Macro Concerns
U.S. equities showed mixed performance as robust retail earnings countered disappointing economic data. Best Buy surged 5.2% after beating Q3 estimates, while Abercrombie & Fitch jumped 14% on strong holiday guidance. The Dow gained 0.3% despite weak retail sales figures, though the S&P 500 dipped 0.1% following a hotter-than-expected PPI report.
In corporate developments, Novo Nordisk climbed 3.4% after positive trial results for its next-generation weight loss drug. Shipping firm Rubico rallied 22% on extended charter contracts, while Kohl's surprised with a 12% gain after returning to profitability. Tech stocks lagged as Micron fell 2.6% despite a bullish price target and Dell slipped 1.8% pre-earnings.