The markets were slightly higher today as investors continue to process the trade deal with Mexico. The Dow 30 was higher by 14, the S&P 500 added 1, and the Nasdaq 100 closed higher by 12. The focus has now turned to Canada, where the Treasury Secretary said he was hopeful a deal would get done.
BestBuy (BBY ) shares were the latest retail stock to report earnings today. The company showed earnings and revenue that were better than expected along with strong store sales. While those numbers came in higher than Wall Street expected, the company did adjust their guidance lower than anticipated, pushing shares lower on the day. Technical traders will note the close above the 50-day moving average.
Tiffany (TIF ) was another retailer that reported earnings at $1.17 per share which was much better than expected, along with stronger revenue and guidance. All in all investors were pleased with this earnings report though shares were only slightly higher on the day.
DSW (DSW ) was the big retail winner today as shares popped nearly 20%, way above expectations. Revenue was 5% higher than expected which fueled the bulls' appetite. Shares closed the day comfortably at new highs.
