- US markets all ended negative but did manage to return from their lows yesterday, with the Dow Jones, Nasdaq and S&P500 all reversing around midday to end just short of their opening levels. Oil stocks were pulling on the markets once again as Crude oil fell for a 2nd consecutive day, then sharply reversed in open outcry which followed through into the Asian session.
Shell CEO John Hofmeister stated: “We cannot ever produce enough oil, in my opinion, to satisfy global demand five or 10 years out. We have to start using natural gas and more biofuels as a source of transportation fuel,” prompting a speculative vision of the future for Oil prices.
European stocks opened high this morning with the jump in Crude Oil helping heavyweight stocks on the FTSE 100 and CAC40.
Leaders and movers on the US Markets were:
Wal-Mart Stores Inc. (WMT) stock price jumped 9.5% on Thursday with a bullish increase in sales reported. Results smashed analyst expectations and warmed investors up as they continue to “make a better experience for shoppers” in Wal-Mart stores.
LendingClub Corporation (LC) were down 7.27% as concerns were raised as the New York Department of Financial Services, the state’s top financial regulator, are looking into practices and compliance, along with rates given to New Yorkers using the service.
American Eagle Outfitters, Inc. (AEO) flew by 18.3% after the company reported strong results for Q1 2016. Revenue was up 7% and store sales up 6% in the period. The company continues to post string EPS growth and it seems investors are taking notice of the Pittsburgh-based teen clothing retailer.