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Published on Oct 25, 2016
Stocks
returned to the red after a choppy morning as a sales warning from
Under Armour dragged on other apparel stocks. Calvin Klein parent PVH
Corp , Ralph Lauren and Hanesbrands followed Under Armour lower. Visa
moved lower despite a jump in quarterly profit driven by an increase in
credit card spending. Growth was also partly attributed to its purchase
of Visa Europe. Caterpillar has warned that soft sales could continue
next year. The manufacturing equipment company said it expects little
growth over fiscal 2017 after a challenging 2016. Consumer confidence
fell back in October, though remained at a level indicative of healthy
spending. Confidence in current conditions and expectations both
mellowed. Analysts expect the end of the election season to boost
sentiment in coming months.
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