Wall Street declines – Target depreciates despite earnings surprise, supply chain and costs overshadow

The U.S. stock market on Wednesday began to decline. According to market reviews, interest rate hike expectations are putting pressure on investors.

Of the key indices, the S&P 500 was down 0.3 percent, the Dow Jones Industrial Average was down 0.4 percent and the Nasdaq Composite was down 0.3 percent.

Today’s earnings announcements included America Tokmanni comparable discount store chain Target.

Earnings and net sales exceeded expectations.

Target raised its sales forecast for the Christmas season as Americans have adjusted for Christmas shopping in a timely manner. However, supply chain challenges and rising costs are casting a shadow over the company. The company needs to weigh in on whether to pass on the cost to customers or swallow them themselves.

Target and Walmartin companies like this try their best to keep the shelves full during the important trading season. This has even meant leasing transport machines and renting container vessels.

A share of Target was down 4.9 percent to $ 253.40.

Hardware store Lowe’s Companies Inc‘s share price rose 1.9 percent as it exceeded earnings expectations and raised its guidance for the full year.

Source: Arvopaperi by www.arvopaperi.fi.

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