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Futures for the S&P 500 fell 0.1% before the opening bell, while
futures for the Dow Jones Industrial Average edged 0.3% lower.
Nasdaq futures rose 0.2%.
Macy's jumped 3% after the iconic New York department store
easily surpassed first-quarter profit forecasts and raised its
outlook. It was the fourth consecutive quarter of comparable
sales gains for Macy's, which said an overhaul of its
merchandise and better customer service is resonating with
customers.
GameStop, the video game retailer and “meme” stock darling,
jumped 13.6% after it nearly doubled Wall Street's profit
expectations and announced a $2 billion stock buyback.
The broader market's rally in recent months has been largely due
to strong profit reports from U.S. companies and to hopes that
the U.S. and Iran will reach a deal to reopen the Strait of
Hormuz. That would allow oil to flow freely again from the
Persian Gulf and hopefully lower its price, which has added
costs for consumers and businesses.
Following a two-week retreat, oil prices have resumed their
climb, jumping 10% already this week. On Wednesday, U.S.
benchmark crude oil advanced $2.16 to $95.22 per barrel.
Brent crude oil, the international standard, climbed $2.22 to
$98.22 per barrel Wednesday.
At midday in Europe, Germany's DAX lost 1%, the CAC 40 in Paris
fell 0.4% and Britain's FTSE 100 shed 0.3%.
In Asia, Japan's Nikkei 225 gained 2.5% to 68,402.13. Shares in
computer chip equipment maker Tokyo Electron gained 13.4%, while
those for chip testing equipment maker Advantest gained 5.1%.
Hong Kong's Hang Seng lost 1.6% to 25,633.21, while the Shanghai
Composite index added 0.2% to 4,083.97.
Australia's S&P/ASX 200 advanced 0.7% to 8,785.70.
Taiwan's Taiex gained 2%, while in India, the Sensex lost 0.9%.
Markets in South Korea were closed for a holiday.
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