Stocks FINALLY took a breather Tuesday after rallying for eight straight days. They’re quiet this morning, along with everything from gold to Treasuries to the dollar.
Speaking of gold, it has risen so much this year that a benchmark gold bar is now worth around $1 million for the first time ever. How about that? (Side note: Did you download your FREE copy of our new “Golden Era” report yet HERE?)
Retailer Target Corp. (TGT) was one of the first casualties of the high-inflation era. Now with inflation ebbing, it’s finding its stride again. The company said same-store sales climbed 2% in Q2, the first year-over-year rise in four quarters. Earnings per share also topped estimates, helping send TGT shares up as much as 14% in the early going.
Target Corp. (TGT)
Meanwhile, competitor Walmart Inc. (WMT) threw in the towel on a key China investment – dumping its whole stake in JD.com Inc. (JD) for $3.6 billion. Walmart purchased its interest in 2016 as a means for selling products online more effectively in China. Now, it plans to use its Walmart and Sam’s Club stores in China as its means of sales and distribution.
Alaska Air Group Inc. (ALK) avoided a Justice Department challenge to its proposed $1.9 billion deal for Hawaiian Holdings Inc. (HA). That increases the chance ALK will succeed in its takeover, the first major deal between US airlines in a decade. Competitors JetBlue Airways Corp. (JBLU) and Spirit Airlines Inc. (SAVE) had to give up on their merger effort earlier in 2024 due to antitrust concerns.
