If you were hoping for a better day following yesterday’s rout, get used to disappointment. Stocks look set to fall again today.
Mike Belleme for The Wall Street Journal S&P 500 futures have dropped 0.2%, while Dow Jones industrial futures have dipped 0.1%. Nasdaq Composite futures have slipped 0.2%.
JC Penney (JCP) has surged 19% to $9.95 after beating earnings forecasts and offering solid guidance.
JC Penney wasn’t the only department store reporting good news. Shares of Nordstrom (JWN) have jumped 9.8% to $67.50 after the retailer reported a profit of 72 cents a share, topping analyst forecasts.
General Motors (GM) has dropped 1.1% to $33.98 after its shares were dumped by Warren Buffett and David Einhorn.
Cliffs Natural Resources (CLF) has fallen 2.2% to $17.44 after it was downgraded to Underperform from Neutral at Macquarie.
Abbott Laboratories (ABT) has gained 1.4% to $39.79 after buying a Chilean pharmaceutical company.
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