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U.S. Market Bounce Back From Earlier Losses on Oil Rebound

August 9, 2023
in Trade Tube
Reading Time: 1 min read
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The Dow was up triple digits in midday trading Tuesday as stocks rise with oil’s reversal and strong economic data. Chevron (CVS) and Boeing (BA) are helping to lift the blue chips higher. Before the bell, Boeing said it’s increasing its quarterly dividend and expanding its stock buyback plan. CVS (CVS) is also higher on its plans to repurchase shares and raise dividends. Shares of InterContinental (IHG) moved higher after the world’s largest hotel chain said it will buy Kimpton Hotels for $430 million. Darden Restaurants (DRI) and Dave & Buster’s (PLAY) will report after the bell. Darden is expected to report earnings of $0.27 a share. Wall Street is expecting a loss of $0.09 a share from Dave & Buster’s.

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