Stocks Edge Lower; Costco, Dollar Tree Rise On Earnings – Investor’s Business Daily

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Major averages fell fractionally Thursday morning, as Wall Street parsed a fresh batch of positive economic data and earnings reports.

The Nasdaq barely fell while the S&P 500 dipped 0.1% and the Dow Jones industrial average lost 0.2% in the stock market today.

In economic news, durable goods orders spiked 3.4% in April, much better than expected, while jobless claims fell more than expected. West Texas Intermediate crude oil for July delivery added nearly 0.6% to $49.87 a barrel.

In earnings news, Dollar Tree (DLTR) soared 12.5% on strong earnings and same-store sales growth. Results were helped by its acquisition of Family Dollar Stores last year. The discount retailer was below its 50-day moving average ahead of the results, but the stock gapped up over an 83.82 flat-base buy point.

Costco Wholesale (COST), meanwhile, rose more than 6% to 153.77, as investors liked the look of its Q3 report. Costco blasted above its 50-day and 200-day moving averages. (STMP) was in recovery mode after a recent sell-off. Shares rose 6% as an investor conference presentation got underway at 11 a.m. ET.

Inside the IBD 50, early gainers included Paycom Software (PAYC) and Five Below (FIVE). Shares of Paycom rose 4% on news of a small share repurchase program. Five Below, an innovative new teen-oriented retailer that sells all merchandise in its stores for $5 or less, added 2% ahead of its June 2 earnings report.