What's moving markets today: May 14, 2019

4:24 p.m. ET, May 14, 2019

What’s next for investors on Wednesday?

Tuesday trading is over and done, and stocks have rebounded from Monday’s lows.

Here’s what's coming tomorrow:

  • Alibaba (BABA), Tencent (TCEHY) and Macy’s (M) report earnings
  • In European data, Eurozone first quarter GDP is due, expected at 1.2%. German GDP is also on the calendar, expected at 0.7%.
  • On the US economic calendar, retail sales are scheduled for 8:30 am ET, along with the Empire State Manufacturing Survey. Industrial production for April is due at 9:15 am ET.
  • The Energy Information Administration releases its weekly petroleum inventories report at 10:30 am ET.
4:24 p.m. ET, May 14, 2019

Stocks close higher, Dow climbs 207 points

US stocks finished higher, rebounding from yesterday's steep selloff. Here's how the day went:

  • The Dow closed 207 points, or 0.8%, higher.
  • The S&P 500 ended 0.8% higher.
  • The Nasdaq finished 1.1% higher.

It was the best one-day gain for the Dow since April 12, according to Refinitiv.

Dow Inc (DOW), Visa (V) and Caterpillar (CAT) were the best performers in the Dow. Only five Dow stocks ended the day in the red.

In the S&P, CenturyLink (CTL) was the best gainer, climbing 6.7%, while Ralph Lauren (RL) was the biggest loser after reporting declines in North American sales. It closed 3.8% lower.

3:59 p.m. ET, May 14, 2019

Alibaba and Macy's: A tale of two retailers

The US is supposed to have the upper hand on China in a trade war, right? Well you wouldn't know that from the recent performances of two leading retailers due to report earnings on Wednesday.

Chinese e-commerce giant Alibaba (BABA) is expected to post a year-over-year sales increase of nearly 50% despite trade tension with the US and a slowing Chinese economy. Shares of the Jack Ma-led company have soared 27% in 2019.

But Macy's (M) continues to struggle, due in large part to competition from Amazon (AMZN), Alibaba and other online retailers. Analysts are forecasting a drop in Macy's earnings and sales. The stock is down 26% this year, making it the second-worst performer in the S&P 500.

2:47 p.m. ET, May 14, 2019

Redemption for Take-Two: Shares jump 6%

So much for Fortnite, Apex Legends and PlayerUnknown's Battlegrounds hurting Take-Two Interactive. Even though the maker of Red Dead Redemption reported a sales miss and mixed guidance after the market closed Monday, shares of Take-Two (TTWO) rose 6% Tuesday, making it the top performer in the S&P 500.

Investors appeared to be betting that the company's outlook was conservative and that revenue and profit for the full year will be better than expected. It also looks like Wall Street is starting to realize that gaming fans are more than happy playing multiple titles on their phones, tablets, consoles and PCs. The success of multiplayer battle-royale games like Fortnite and Apex Legends is a good sign for the whole industry.

To that end, Apex Legends publisher Electronic Arts (EA) was the second-best stock in the S&P 500 Tuesday, rising 5%. And Activision Blizzard (ATVI), the maker of the popular Call of Duty and World of Warcraft franchises, gained 4%.

1:23 p.m. ET, May 14, 2019

Stocks extend gains in the afternoon

In the second half of the trading day, stocks continue to forcefully rebound after Monday's brutal selloff.

The Dow is up more than 300 points, or 1.2%, while the S&P 500 and the Nasdaq are 1.3% and 1.5% higher, respectively.

Dow Inc (DOW), Visa (V) and Caterpillar (CAT) are the top gainers in the Dow. UnitedHealth (UNH) and Johnson & Johnson (JNJ) are the only components in the red.

In the S&P, CenturyLink (CTL) and Electronic Arts (EA) lead the pack. Ralph Lauren (RL), which reported results earlier, is the biggest decliner. It's down 5.5%.

12:38 p.m. ET, May 14, 2019

Trump calls trade war that tanked markets 'a little squabble'

President Donald Trump called the trade spat with China "a little squabble," speaking to reporters today.

Of course that spat has escalated significantly over the past week, as both Washington and Beijing raised tariffs on imports. As a result, on Monday, the Dow and the S&P 500 had their worst days since January 3, while the Nasdaq recorded its worst day since December.

In his comments, Trump added that the United States had a very good dialogue with China and that a trade deal could absolutely happen.

The Dow was up 333 points, or 1.3% at midday.

12:11 p.m. ET, May 14, 2019

Ralph Lauren is by far the worst S&P 500 stock of the day

Fashion house Ralph Lauren (RL) is by far the worst performing stock in the S&P 500 this morning. It's down more than 6%

For context, it's followed by Gap (GPS), which is down only 1.6%.

Ralph Lauren reported earnings for its fourth quarter and financial year 2019 before the bell.

While the results exceeded expectations, they showed some worrying trends. Revenue from its North American wholesale operations fell 10% year-over-year in the quarter, while overall North American sales dropped 7%, or $708 million.

Correction: A previous version of this post incorrectly identified which index Ralph Lauren is a part of.