Stocks Record Strong Back-to-Back Gains
Stocks posted strong gains for the second consecutive day after the Bush administration unveiled plan to help homeowners keep hold of their properties. Traders attention now shifts to Friday’s employment report, with economists expecting an increase of 70,000 jobs.
Wal-Mart
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PowerRating) announced November sales up 1.5%, on an 8.4% increase in total sales. The company also set its December target (read more).
Meanwhile, discount retailers Family Dollar Stores
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PowerRating) and Target
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PowerRating) are falling after posting disappointing November sales (read more).
Shaw Group
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PowerRating) reported Q4 profit fell, and the company restated its full-year 2005 and 2006 results (read more).
Toll Brothers
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PowerRating) reported a net loss in Q4 on declining revenue (read more).
The Bank of England cut interest rates by 25bp to 5.50%. It was the first time the central bank cut rates in two years.
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