Indexes Rally from Oversold Conditions
Stocks rallied today after 3 big down days. The major markets rallied from
oversold conditions, despite mostly negative reports out of U.S. retailers that
painted a negative picture of U.S. consumer health.
Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) rallied 1.9%, despite reporting disappointing sales
results for January (full
story).
Wet Seal
(
WTSLA |
Quote |
Chart |
News |
PowerRating) rallied over 2% after posting lower net sales,
but raised its Q4 earnings target (full
story).
J.C. Penney’s
(
JCP |
Quote |
Chart |
News |
PowerRating) rallied 8.6%, after the company reported
January sales numbers that beat analyst estimates (full
story).
Children’s Place
(
PLCE |
Quote |
Chart |
News |
PowerRating) rallied 18.9%, after the company reported
that same store sales increased 6% in January, much more than sales expected (full
story).
Crude oil futures rallied over 1%, as traders took advantage of relatively
lower prices. Gold also rallied nearly 1%, in line with crude oil futures.
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