Closing Bell: L Brands Slumps on Weak 2017 Guidance; Dow at Fresh Records

Wall Street was pulled in two directions with a bounce in crude prices boosting the Dow Jones Industrial Average and a selloff in Tesla dragging on the Nasdaq.
Author:
Publish date:

Wall Street was pulled in two directions with a bounce in crude prices boosting the Dow Jones Industrial Average and a selloff in Tesla(TSLA) - Get Report dragging on the Nasdaq. The Dow has now closed at records for ten straight sessions in a row. Chinese social media stocks Weibo(WB) - Get Report and its shareholder Sina(SINA) - Get Report also weighed on the Nasdaq following their quarterly reports. Alibaba(BABA) - Get Report , which also has a stake in Weibo, moved lower in sympathy. L Brands(LB) - Get Report slumped after issuing weak guidance for fiscal 2017. The parent company of Victoria's Secret also said it expects same-store sales in February to decline in the mid-to-high teens. Kohl's(KSS) - Get Report exceeded quarterly estimates and met full-year profit expectations. Kohl's said it saw declines in brick-and-mortar traffic over the holiday season, though online demand countered some of that drag.