Retail earnings weigh on markets but may not move indices
Last week’s retail news gave a mixed read with Macy’s and Nordstrom beating fears but broad July sales flat. Consumers drive about two thirds of U.S. activity, helping 1.2% growth look better. Next week’s earnings could matter less as markets price in low rates and liquidity.
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Market Metrics Include VIX And P E Ratio Snapshot
The VIX index measures expected market volatility from S P 500 option pricing while the trailing twelve month as reported earnings determine the price to earnings ratio.
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CBOE
S&p
Ruby Tuesday to close 95 stores in cost cut plan
The restaurant chain plans to shut 95 company owned outlets by September after weak sales. As of May it operated 724 restaurants nationwide, 646 company owned, with stock rising to the highest since March on upbeat earnings news from JCPenney context.
Fox News names co-presidents amid leadership overhaul
Fox News elevates two internal executives as co presidents Jack Abernethy and Bill Shine will oversee business and programming news functions respectively both reporting to Rupert Murdoch. CFO Mark Kranz will retire after a 1997 start amid ongoing 21st Century Fox investigation into the unit.
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