Wall Street ends lower as retailers stoke inflation fears
- Wall Street benchmarks ended Wednesday lower on inflation fears and supply chain concerns stemming from retailers' earnings, with investors betting the Federal Reserve will raise interest rates sooner than expected to tame rising prices.$Target Corp$ was the latest big-name retailer to report positive results, upping its annual forecasts and beating profit expectations, citing an early start to holiday shopping.But shares of the firm fell 4.7%, tracking declines in those of peer $Walmart$ on
After-Hours Stock Movers: Atea Pharmaceuticals, Chembio Diagnostics and more
$Atea Pharmaceuticals, Inc.$ 9.8% LOWER; announced that the strategic collaboration pursuant to which it was jointly developing AT-527 for the treatment of COVID-19 with Roche will be terminating. Upon termination, the rights and licenses granted by Atea to Roche under the strategic collaboration will be returned to Atea, and Atea will have full rights to continue the clinical development and future commercialization of AT-527 worldwide.$Chembio Diagnostics$, Inc. 8.7% HIGHER; announced the su
Retail sales, Walmart and Target earnings: What to know this week
Investors this week will be focused on data on the consumer, with both retail sales and earnings results from two retail giants set for release.The total value of retail sales in the U.S. is expected to have climbed by 1.1% month-on-month in October, according to the Commerce Department's latest monthly print on Tuesday. This would accelerate from a 0.7% monthly advance in September, which had been an unexpected increase at the time given that many economists were anticipating that a rise in Del