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7 Jan 2021

S&P 500 top movers: L Brands Inc (LB: NYSE) stock surges to 34 month highs above $46

  • S&P 500 climbed to a new all-time high on Thursday.
  • L Brands Inc (LB: NYSE) is the top performer on strong sales and earnings forecast.

The S&P 500 Index (SPX) opened higher on Thursday and preserved its bullish momentum to touch a new all-time high of 3,810. As of writing, the SPX was up 1.46% on the day at 3,802.

S&P 500 top movers

Earlier in the day, L Brands Inc (LB: NYSE) reported revenue for nine weeks ended January 2, 2021, was $3.836 billion and said it sees the fourth-quarter earnings per share between $2.70 and $2.80. On the back of these upbeat figures, BofA Global Research raised its price target for the stock to $65 from $60. As of writing, LB was the top performer of the day, trading at its highest level since March 2018 at $46.58 with a daily gain of nearly 7%.

Tesla Inc (TSLA: NASDAQ) and DXC Technology Co (DXC: NYSE) share are among the biggest winners on Thursday, both rising more than 6%.

On the other hand, Fox Corp. Class B (FOX: NASDAQ), CenterPoint Energy Inc (CNP: NYSE), Conagra Brands Inc (CAG: NYSE) and Omnicom Group Inc (OMC: NYSE) shares are down between 3% and 4%.

Jan 7, 2021

USD/JPY supported by widening rate differentials, consolidates below 104.00 level

USD/JPY is consolidating below the 104.00 level as US dollar bulls take a breather after the pair hit its highest levels in four weeks. At present, th
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Jan 7, 2021

Fed's Evans: Think we'll get to 2% inflation by 2023

"There is a need for additional fiscal support to state and local governments," Chicago Federal Reserve Bank President Charles Evans said on Thursday,
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