Top Stock Movers Now: Target, TJX, Macy’s, and More

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Key Takeaways

• The Dow, S&P 500, and Nasdaq were little changed at midday Wednesday ahead of minutes from the Federal Fund’s latest policy meeting. 
• Target and TJX shares rose after the retailers posted better-than-expected results and raised their prospects.
• Macy’s shares fell after the company warned soft consumer spending and increased promotions were injuring sales.

The Dow, S&P 500, and Nasdaq were little changed at midday Wednesday ahead of minutes from the Federal Hold over’s latest policy meeting.

Target (TGT) shares soared after the retailer exceed earnings and revenue estimates and grew its guidance as it benefitted from lower prices. Lower prices also helped discount chain TJX (TJX) beat augurs and lift its outlook.

Analog Devices (ADI) shares gained as the chipmaker posted better-than-expected results as well.

Macy’s (M) rations tumbled as the department store chain reported a drop in revenue and cut its outlook. The company warned soft consumer pay out and increased promotions were hurting sales.

Shares of Franklin Resources (BEN) declined after the investment manager suggested Ken Leech, the Co-CIO of its Western Asset Management Unit, was on a leave of absence after receiving a Wells Notice from the Guardings and Exchange Commission (SEC). 

American Express (AXP) shares declined as Bank of America cut its rating on the stock over concerns with reference to a slowdown in consumer spending.

Oil futures rose and gold prices fell. The yield on the 10-year Treasury note was down. The U.S. dollar cursed ground to the euro, pound, and yen. Most major cryptocurrencies traded in the green.

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