The markets made it through the historical meeting between President Trump and North Korean leader Kim Jong Un, as it seemed everything went better than expected. The Dow 30 was flat most of the day and closed lower by 2. The S&P 500 closed higher by 4, and the Nasdaq 100 finished higher by 43 thanks to a solid day for tech names.
Tesla (TSLA ) shares popped another 3% today as the company announced they would be cutting jobs across the board by 9%. They said that they will focus on salaried positions, leaving analysts confident that hourly production workers will be safe from downsizing, easing concerns over production issues. The stock is already higher by about 10% just this month. Tesla also ended their brief relationship with Home Depot (HD ), which Tesla used to sell their solar products. Tesla will now sell these products only on their websites.
Dave and Busters (PLAY ) made headlines today for its sharp 16% gain. The climb came after the company announced better-than-expected earnings and revenue for the previous quarter, along with a new CEO. Shares are now higher by over 30% just this month.
High-end furniture retailer Restoration Hardware (RH ) was higher by 30% today after reporting a stunning earnings beat. The company reported earnings per share of $1.33 as compared to Wall Street's expectations of only $1.02. They cited growth in their membership service as well as improvements in their supply chain as the driving factors to the beat. Year to date shares are close to a 40% gain.
Even Sears (SHLD ) showed some gains today. The struggling retailer has announced further expansion of its deal with Amazon and Sears Auto Centers. Based upon the strong performance of its 40 test locations, Sears will expand by adding another 70.
