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Reuters Company NewsAug 21, 2019
MIDEAST STOCKS-Most major Gulf markets fall, banks weigh on Saudi index
Most major Gulf stock markets fell on Wednesday, with Saudi banking shares pushing that index down the most, amid rising regional geopolitical tensions and ahead of U.S. Federal Reserve events. Tensions in the Middle East remained in focus af

MarketWatch MarketPulseAug 21, 2019
Target's stock soars toward record rally and record high
Shares of Target Corp. rocketed 18.2% in morning trading Wednesday, which puts them on track for the biggest one-day gain in its history, after the retailer reported better-than-expected fiscal second-quarter results and raised its outlook. The stock was trading well above the Sept. 10, 2018 record close of $89.26 and all-time intraday high of $90.39. The stock's percentage gain would be bigger than the current record rally of 17.8% on Oct. 28, 2008. Target went public in October 1968. The current price gain of $15.61 is adding about $8 billion to the retailer's market capitalization, which would lift the market cap to about $51.9 billion. That's still well below the market cap of rival Walmart Inc. of $323.1 billion. Target's stock has gained 2.7% over the past 22% over the past months, while Walmart shares have advanced 18% and the Dow Jones Industrial Average has tacked on 1.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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MarketWatch MarketPulseAug 21, 2019
Dow jumps more than 200-points at the open as Target's stock heads to all-time high
U.S. stocks opened solidly higher on Wednesday as upbeat quarterly results from retailers Target and Lowe's helped to support early buying. Investors were also awaiting the release of minutes from the Federal Reserve's July 30-31 policy gathering, which could offer insights on the central bank's decision to cut interest rates for the first time in more than a decade. The Dow Jones Industrial Average rose 229 points, or 0.9%, to 26,196, the S&P 500 index climbed 0.8% to 2,923, while the Nasdaq Composite Index picked up 8,018, a gain of 0.9%. In corporate news, Target Corp.'s shares hit a record high following the discount retailer's report of fiscal second-quarter earnings and sales that beat expectations, while Lowe's Cos. stock also rallied after its second-quarter net income rose to $1.68 billion. In the afternoon, the Fed will publish the minutes of the July meeting of its rate-setting Federal Open Market Committee at 2 p.m. Eastern. Elsewhere, Italy's bond yields headed lower after Italian Prime Minister Giuseppe Conte resigned on Tuesday, triggering a power struggle, while German debt yields rose after a bond auction with negative interest rates.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseAug 21, 2019
Vistra Energy to retire four power plants in Illinois at cost of 300 jobs
Vistra Energy Corp. said Wednesday it is planning to retire four power plants in Illinois at the cost of about 300 jobs. Irving, Texas-based Vistra said the decision was made to meet the requirements of the approved revisiosn to the Multi-Pollutant Standard rule imposed by the Illinois Pollution Control Board (IPCB). "Without this rule change, the company's entire downstate fleet was at risk of near imminent retirement," the company said in a statement. The affected four coal-fueled power plants are the Coffeen Power Plant, Duck Creek Power Plant (in Canton), Havana Power Plant, and Hennepin Power Plant. The comopany will focus on its remaining business, while making the shift to a sustainable business including newer, greener technologies. "Vistra is hopeful that the Illinois General Assembly will take up the Coal to Solar and Energy Storage Act during its fall Veto Session," said the statement. Vistra shares were not yet active premarket, but have gained 4% in 2019, while the S&P 500 has gained 16%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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