Stock Markets Mixed as RH Soars Post-Earnings; Penney Gets a Lifeline (but Not Its Stock)
The stock market remained on pins and needles Thursday, as investors weren't able to carry through Wednesday's big market gain. Although major indexes moved higher at the open, they quickly gave up those early advances. By just after 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 28 points to 27,913. The S&P 500 (SNPINDEX: ^GSPC) dropped 2 points to 3,397, although the Nasdaq Composite (NASDAQINDEX: ^IXIC) managed to rise 34 points to 11,176.
The peak of earnings season is long behind us, but there are still some stragglers that are giving their latest reports. Luxury retailer RH (NYSE: RH) brought some good news to its shareholders with its quarterly results. Meanwhile, J.C. Penney (OTC: JCPN.Q) got a buyout offer out of bankruptcy, but investors in the retailer shouldn't get the wrong idea about the prospects for the stock.
Shares of RH soared 22%, climbing to new all-time highs. As much as retail stocks have gotten hit by the COVID-19 pandemic, the luxury home furnishings specialist's numbers showed few signs of any headwinds.
Source Fool.com
