Retail Earnings Strong, Stocks Not so Much

Retail Earnings Strong, Stocks Not so Much

(MENAFN- Baystreet. ca) Retail Earnings Strong, Stocks Not so Much Advertisment U. S. stocks took a dip on Wednesday as investors weighed a continuation of strong earnings reports from big-box retailers against lingering inflation concerns. The Dow Jones Industrials hurtled earthward 211. 37 points to 35, 931. 05 by the closing bell. The Dow was dragged down by a sharp drop in Visa. The S&P 500 docked 12. 23 points to 4, 688. 67. The NASDAQ Composite tumbled 52. 28 points to 15, 921. 57. The S&P 500 and NASDAQ are still higher for the week, however, while the Dow is lagging. Retail giant Target posted beats on the top and bottom lines, but its CEO noted rising costs may have an impact on the company going forward as it plans to absorb those costs rather than pass them onto the customer. Shares slid about 4. 7%. Home improvement giant Lowe's saw shares rise 1. 2%, however, after the company not only topped estimates from the Street but also raised its full-year sales forecast. And shares of TJX jumped 5. 8% after the apparel and home retailer reported a quarterly earnings beat on the top and bottom lines as well