Market Wrap-Up for May 24 (PG, ROST, ANF, FL, more)

As we started the last trading session before Memorial Day Weekend, the markets opened in the red once again. Continued volatility in overseas markets, some investor profit taking, and a low volume all contributed to stocks settling in negative territory. Though stocks pared losses, the current investing environment may remain tricky for the next several sessions.

Big news from Procter & Gamble (PG) sent its shares higher in today’s trading. The consumer goods maker announced that it is bringing back its former CEO, A.G. Lafley, to run the company, pleasing many investors.

Another company that also saw its shares rise higher this morning was Ross Stores (ROST), after it reported better-than-expected earnings. However, poor earnings reports from Abercrombie & Fitch (ANF), Foot Locker (FL), Williams-Sonoma (WSM), and The Gap (GPS) sent their shares lower.

A Perspective on Pullbacks?

The past couple of days have resulted in the indices closing in negative territory. The big concern regarding the end of easy money in the U.S. sparked a mini sell-off that has been so rare over the past six to seven months. Traders and short-term investors have been alarmed by this situation. Depending on the experience of a trader, some may not be prepared for any selling that could sustain beyond the 24-hour window, as has been the case for a while now.

For long-term investors who are not concerned with the day-to-day fluctuations of the markets, these pullbacks shouldn’t be seen as a bad or scary thing. Our readers, most of whom are investors with a long-term focus, should be willing to embrace a bit of a rest period for the markets. Of course sell-offs do scare the average investor, but lower prices do provide for better entry points. You do not want to miss out on these appealing openings to add capital to income-producing assets which do assist in building wealth over time.

Looking Toward Next Week

Looking ahead to the next week for stocks, first quarter earnings releases continue to trickle in from a number of companies, including Tiffany’s (TIF), Costco (COST), and Bank of Nova Scotia (BNS).

Have a great Memorial Day Weekend everyone!

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here