Thursday’s big stock stories: What’s likely to move the market in the next trading session

by Jason Gewirtz.August 20, 20243
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Here's what manufacturers were watching as stocks rose on Wednesday and what to expect in the coming trading session.

Retail in the U.S.A.
  • While Target and TJX reported positive news that boosted the stocks’ prices Wednesday — with TJX getting a 6% bump and Target an 11% jump — we’re turning our attention to the mall real estate investment trusts.
  • Retail earnings this season — including Target, TJX and Macy’s , which fell nearly 13% in Wednesday’s session — all indicated a Great American Consumer who is becoming more cautious.
  • Kimco and Simon Property Group both rose more than 1% Wednesday.
  • Both stocks are up about 5% in August, and both hit new highs this week.
  • Brixmor , which operates open-air shopping centers, hit a new high Wednesday. The stock is up 9% in a month.
  • Tanger , the outlet mall operator, is 4% from the 52-week high hit back in March. The stock is up 2.6% week to date and up 24% in the past year.
Canada
  • Ahead of a possible rail strike in Canada, shares of Canadian National Railway are 15% from the March high. The stock is down about 10% in three months.
  • Canadian Pacific Kansas City is 13% from the March high. The stock is flat in 2024.
  • Norfolk Southern is 8% from the March high. Shares are up 7.5% in three months.
  • Both stocks are up about 5% in August, and both hit new highs this week.
  • Union Pacific is 5% from the February high. Shares are almost exactly flat in 2024.
  • CSX is 16% from the February high.
Brent crude
  • The commodity is now negative for the year after falling 1.5% on Wednesday.
  • West Texas Intermediate crude is up 0.4% in 2024.
  • The S&P 500 energy sector is up 5.7% this year. Only the real estate sector ranks below it.
  • Exxon Mobil is up about 14% in 2024.
  • Chevron is down 2.6% in 2024.

Eiusmod tempor incididunt ut labore et dolore magna aliqua. Photos via link


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