A number of stocks fell in the afternoon session after April PPI hit 6% annually, the highest in over three years, confirming that wholesale cost pressures were accelerating just as consumer real wages turned negative for the first time since 2023.
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A number of stocks fell in the afternoon session after April PPI hit 6% annually, the highest in over three years, confirming that wholesale cost pressures were accelerating just as consumer real wages turned negative for the first time since 2023.
Shares of general merchandise retailer Target (NYSE:TGT) fell 4.9% in the afternoon session after markets raised concerns that surging gas prices would squeeze household budgets, potentially leading to a pullback in discretionary spending.
Target Corp (NYSE:TGT) is expected to deliver a strong first quarter but faces a more challenging sales environment heading into the second quarter as the boost from tax refunds fades, Bank of America said, reiterating its Underperform rating on the retailer ahead of its May 20 earnings...
Shares of Target are down more than 5% Monday at recent check, its largest percentage decrease since August and a reversal from its double-digit year-to-date rally. The decline marks the third straight day of losses, during which Target has lost nearly 9%, its worst three-day stretch in more than a year. There wasn’t much in the way of a particular problem for Target, but a few incremental things may be weighing on the stock.