The markets showed some weakness today which it seemed to be hinting at earlier in the week. The Dow 30 was lower by 135, the S&P 500 lost 14, and the Nasdaq 100 sold off 31. Tomorrow investors will continue to digest news from Washington along with scheduled economic numbers on unemployment and manufacturing.
Target (NYSE: TGT) was one of the big focus stocks today as shares tumbled 9.87% on the day. The company announced their earnings which came in above expectations. They even beat expectations on revenue and same-store sales, but going forward the company warned of that they may come in below Street estimates. Analysts also put a focus on gross margins which came in weak. Shares have been at the lower end of their yearly range, still showing a loss of around 25% for 2017.
Square (NYSE: SQ) pushed to new highs again today, continuing on its massive rally. The stock was higher today by 2.32% after reports surfaced that the mobile payments company is testing support for Bitcoin through its cash payments app.Being first to market could be a huge advantage for Square and investors seem to realize this. The stock is higher on the year by a whopping 200% on the year.
Dick's Sporting Goods (NYSE: DKS) completely reversed yesterdays decline today, popping 5.00%. The move came after JPMorgan upgraded the stock to overweight. The note from the analyst cited expectations for the retailer to be a long-term survivor in the sporting goods sector and forecast decreased promotional pressure on inventories next year. Shares are still trading in near their lows of the year.