Daily Overview
Wall Street rose sharply in early trading ahead of the Federal Reserves interest rate decision with cautious optimism amid the decline in oil. Things are looking up for the economy as inflation may soon be under control thanks to the Fed while commodities and oil both sold off as asset plays. The Dow Jones rose 112 points, or one percent, to 11,396 while broader indexes also rose sharply.
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Kimberly Clark (KMB) shares rose after rival Procter and Gamble announced a new positive outlook on its Q4 results, sparking hopes that KC's own efforts to raise prices were successful.Target Corporation (TGT) shares rose about 6 percent today in anticipation of positive news out of the Federal Reserve. A steady interest rate will help keep the dollar steady and ideally make products cheaper.
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Costco Wholesale Corporation (COST) saw its shares rise today after
receiving a positive mention on CNBC's Fast Money. The discount bulk
retailer has been one of the few beneficiaries of tightened consumer
spending as an increasing number of shoppers seek out bargains.
However, rising inflation has put pressure on the discount retailers'
margins that may affect profitability.
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