Market News: Consol Energy, Seritage, Men’s Wearhouse

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Market News: Consol Energy, Seritage, Men’s Wearhouse
market news

The stock markets in the United States gained driven by the strength of equities in the energy sector today. The airlines helped boost the industrial sector.

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Over the past three days, the U.S. equity markets were down due to renewed concerns regarding the global economic growth triggered by China’s weak trade data and the declining oil prices.

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In an interview with Bloomberg, Joe Bell, a senior equity analyst at Schaeffer’s Investment Research, commented, “Energy has been the most volatile sector in a broader market over the last couple weeks, and U.S. equities seem to be tracking it.”

Mr. Bell added that the U.S. equity markets rebounded from yesterday’s lows. He further stated, “Today we’re right at the lows for December, and that area is holding. We’re in a waiting period here ahead of the Fed meeting.”

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Federal Reserve Chairperson recently expressed that the economy is strong enough and ready for an interest rate hike. Investors expect the central bank to raise interest rates this month.

Economists polled by Bloomberg expected that the reports on retail sales and producer prices in November would show strong growth. They also expected an improvement in consumer confidence.

U.S. Markets

  • Dow Jones Industrial Average (DJIA) – 17, 575.15 (+0.47%)
  • S&P 500- 2,052.22 (+0.22%)
  • NASDAQ- 5,045.17 (+0.44%)
  • Russell 2000- 1,148.44 (+0.22%)

European Markets

  • EURO STOXX 50 Price EUR- 3,269.97 (-0.22%)
  • FTSE 100 Index- 6,088.05 (-0.63%)
  • Deutsche Borse AG German Stock Index DAX- 10,598.93 (+0.06%)

Asia-Pacific Markets

  • Nikkei 225- 19,046.55 (-1.32%)
  • Hong Kong Hang Seng Index- 21,704.61 (-0.45%)
  • Shanghai Shenzhen CSI 300 Index- 3,623.08 (-0.35%)

Stocks in Focus

The stock price of Consol Energy climbed more than 10% to $7.60 per share. The company is one of the biggest gainers among the energy companies today. David Einhorn, the hedge fund manager of Greenlight Capital, is bullish on Consol Energy.

Seritage Growth Properties surged nearly 17% to $41.09 per share after Warren Buffett invested in the company. The billionaire investors disclosed a passive stake or 8% or 2 million shares in Seritage Growth Properties.

Men’s Wearhouse plummeted more than 17% to $15.26 per share after reporting a GAAP loss of $0.56 per share for the third quarter. The company also warned that it could miss the lower end of its issued guidance last month if Jos. A. Bank continues to deliver weak sales results. The same-store sales of Jos. A. Bank dropped over 35% quarter-to-date.

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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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