close
close

Target, Costco and Walmart struggle to recover from Wall Street carnage – while shoppers worry it could impact business – The US Sun


Target, Costco and Walmart struggle to recover from Wall Street carnage – while shoppers worry it could impact business – The US Sun

After a shocking collapse just days earlier, stock prices recovered on Thursday and are looking more hopeful towards the future.

America’s most popular retailers, which suffered major losses just three days ago, are slowly coming back to life.

Stock prices are slowly recovering since the dramatic collapse on Monday

6

Stock prices are slowly recovering since the dramatic collapse on MondayPhoto credit: AP
Target stock is now worth $133.97

6

Target stock is now worth $133.97Credit: Google
Costco is now worth $839.43

6

Costco is now worth $839.43Credit: Google

The S&P rose 2.3%, its best day since 2022, The Associated Press reported.

The Dow Jones Industrial rose 683 points and the Nasdaq gained 2.9 percent.

Despite the increase, the future is still “unclear,” according to financial experts.

“Inflation data will be released next week, and the stock market is still working through its biggest decline of the year. It’s unclear how much this will affect sentiment,” Chris Larkin, managing director of trading and investing at Morgan Stanley’s E-Trade, told the Associated Press.

READ MORE ABOUT THE STOCK MARKET

And consumers are also feeling the uncertainty.

“Random ups and downs are not good,” wrote one person on X.

“I’ve already lost a zillion dollars,” another chimed in.

“In my opinion, we shouldn’t celebrate yet. Give us another week,” said another.

As of Thursday, Costco’s share price was up 3.59%, Walmart’s was up 1.12% and Target’s was up 0.37%.

The impressive recovery comes just three days after some of the largest retailers experienced their worst crash since 2022.

Costco customer confirms $5 fried chicken is no longer sold in stores – while employee reveals truth behind disappearance

Share prices of Walmart, Costco, Dollar Tree and Target fell several percent on August 5.

According to Fox Business, the Dow Jones Institutional Average fell 1,033.99 points, while the Nasdaq Composite fell 3.43% and the S&P 500 slumped 3%.

These shocking declines are the worst for the Dow and S&P since September 2022.

The Tokyo-based Nikkei index suffered its biggest daily loss since the “Black Monday” crash in 1987.

The Nikkei continued to suffer later in the week, namely on Thursday when it also fell 0.7%, a decline that pales in comparison to Monday’s loss.

How America’s retailers are recovering

The stock market plunged on Monday, sending several of the country’s most popular retailers plummeting, but prices have slowly begun to rise.

  • Target is now worth $133.97
  • Costco is worth $839.43
  • Dollar Tree is worth $94.93
  • Walmart is worth $67.66

As of Thursday evening, 9.30 p.m.

European stocks were also affected by the massive declines on Monday.

Stock markets in Asia and Europe have slowly recovered from the slumps, but now present a mixed picture overall.

Among retail chains, Target’s share price recorded the biggest decline on Monday, falling to a low of 5.30 percent.

Dollar Tree came in second with a decline of 3.04% and Costco came in third with a decline of 2.46%.

Walmart Inc. suffered the least, with a decline of 1.27%.

“While Friday’s jobs report was disappointing, it was not the only worrying economic indicator, just the latest,” said Greg McBride, chief financial analyst at Bankrate.

“Combine economic concerns with the cacophony of disappointing earnings, weak corporate outlooks, global unrest and currency fluctuations, and you have a recipe for sudden volatility.”

The massive price drop triggered a wave of fear on Wall Street; the fear index was at 65.73 before trading began.

The fear index has risen by about 42 points since the close of trading on August 2.

“There is no doubt that something broke (in the markets) last week, and it will take some time to repair that damage,” Joe Tigay, portfolio manager of the Rational Equity Armor Fund, told the New York Post.

Trader Sal Suarino works on the floor of the New York Stock Exchange on Tuesday, August 6

6

Trader Sal Suarino works on the floor of the New York Stock Exchange on Tuesday, August 6Photo credit: AP
Walmart's price is now $67.66

6

Walmart’s price is now $67.66Credit: Google
Major retailers had a scary start to the week on Monday after stock prices collapsed

6

Major retailers had a scary start to the week on Monday after stock prices collapsedPhoto credit: Getty

Leave a Reply

Your email address will not be published. Required fields are marked *