Bill McColl
2 min read
In This Article:
-
U.S. equities were mixed at midday as the market was cautious ahead of the weekend as the fighting between Israel and Iran continued.
-
CarMax shares took off as revenue from retail used car sales jumped.
-
Smith & Wesson warned that consumers continued to hold back on discretionary spending because of macroeconomic conditions.
U.S. equities were mixed at midday as uncertainty about the fighting between Israel and Iran led investors to be cautious ahead of the weekend. The Nasdaq fell, the Dow Jones Industrial Average rose, and the S&P 500 was little changed.
Kroger (KR) was the best-performing stock in the S&P 500 as the biggest U.S. grocer beat profit and same-store sales and raised its same-store sales guidance on higher pharmacy, fresh food, and e-commerce sales.
Shares of CarMax (KMX) gained after the largest U.S. used car retailer reported better-than-expected profit as revenue from sales of retail vehicles increased.
Mondelez International (MDLZ) shares were higher on an upgrade from Wells Fargo, which cited elasticity of chocolate prices, a lower inflation outlook, and the Oreo maker's favorable valuation.
Accenture (ACN) shares declined when the consulting firm warned that economic and geopolitical uncertainty is causing CEOs to hold off on hiring consultants for some new projects.
Shares of Smith & Wesson Brands (SWBI) tumbled when the gunmaker posted a drop in both earnings and revenue and warned sales will likely continue to slow because consumers are cutting back on discretionary spending.
Amazon (AMZN) shares dipped on word a British regulator was looking into accusations the online retail giant didn't pay food suppliers on time.
Oil and gold futures dropped. The yield on the 10-year Treasury note was little changed. The U.S. dollar gained on the yen, fell against the euro, and was little changed against the pound. Trading in major cryptocurrencies was mostly lower.
Read the original article on Investopedia
