Clearly "borrowing" an idea from a larger peer, online furniture and home goods retailer Wayfair (NYSE: W) announced a new, proprietary shopping holiday Thursday morning. The market didn't celebrate the news, though, with investors responding by trading the company's stock down by over 3% on an otherwise very frothy day for the market. The company said it would offer "unbeatable deals" on its specialty retail brands, which include AllModern and Birch Lane. Read More...
MarketWatch
Why stocks scored a historic bounce after another hot inflation report
Stock-market investors can be forgiven for feeling a little dizzy after a day that saw stocks plunge in reaction to another round of hotter-than-expected inflation data only to surge higher and extend gains into the closing bell. “While I certainly wouldn’t classify this morning’s flush capitulatory, the stock market is dealing with disappointing inflation reports a lot better than a short time ago,” said Mark Arbeter, president of Arbeter Investments LLC, in note. The Dow Jones Industrial Average (DJIA) fell just shy of 550 points, or 1.88%, but ended the day up 827.87 points, or 2.8%, at 30,038.72.
