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Weekly Market Wrap: November 15, 2013 Friday, November 15, 3:55 PM ET This forty-sixth trading week of 2013 comes to a close with investors believing interest rates could remain low for an extended period of time with Janet Yellen set to take over at the Federal Reserve. Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for November 15, 2013.
The Nasdaq, Dow Jones Industrial Average and S&P 500 are all trading higher this week. Crude oil futures are lower again this week, trading below $94.00 per barrel on Friday afternoon. And Gold futures are relatively flat this week, trading around $1,288 an ounce in Friday afternoon trading. In economic news, the Labor Department reported initial jobless claims fell by 2,000 to a seasonally-adjusted 339,000 claims.
While the overall number fell last week, the report was higher than economists had been expecting after the better-than-expected payroll report for October. In corporate news, McDonald's (NYSE:MCD) reported sales at stores open at least a year climbed by 0.5% globally in October. Looking regionally, sales increased by 0.2% in the US market, 0.8% in the European market and fell 2.8% in the Asia/Middle East/Africa markets.
Wal-Mart (NYSE:WMT) reported third quarter earnings of $3.74 billion, or $1.14 per share, as revenue climbed to nearly $115 billion. While earnings topped Wall Street estimates, sales fell short of expectations. Kohl's (NYSE:KSS) reported third quarter earnings of $177 million, or 81 cents per share, as revenue slid to $4.44 billion.
The company missed both top and bottom line estimates, causing weakness in the stock this week. Macy's (NYSE:M) reported third quarter earnings of $177 million, or 47 cents per, as revenue climbed by 3% to $6.28 billion. The company easily beat Wall Street estimates for both sales and earnings and issued full year guidance in the range of $3.80 to $3.90 per share.
This is the 'Weekly Market Wrap' for Friday November 15, 2013. Please join us on Monday for the Week Ahead Market Report.
For MarketNewsVideo.com, I'm Sayoko Murase.