A tale of two consumers | Kohl's sinks on guidance cut | Jobless claims edge lower

Stocks eked small gains on Thursday.

VIEW IN BROWSER | SUBSCRIBE THU, AUG 18, 2022 EVENING BRIEF AS OF THU, AUG 18, 2022 • 05:15 ET DJIA 33999.04 +0.06% +18.72 S&P 500 4283.74 +0.23% +9.70 NASDAQ 12965.34 +0.21% +27.22 Most Active DOW NAME LAST CHG %CHG AAPL 174.15 -0.40 -0.23% CSCO 49.37 +2.71 +5.81% VZ 44.19 -1.15 -2.54% S&P 500 NAME LAST CHG %CHG AMD 100.44 +2.17 +2.21% AAPL 174.15 -0.40 -0.23% CCL 10.45 -0.11 -1.04% NASDAQ NAME LAST CHG %CHG AMD 100.44 +2.17 +2.21% AAPL 174.15 -0.40 -0.23% NVDA 187.73 +4.38 +2.39% EDITOR'S NOTE Freshly released quarterly results from Kohl's, Tapestry and BJ's Wholesale revealed a tale of two consumers as the inflation picture continued to play out.   Kohl's showed signs of weakness in the deteriorating macroenvironment as consumers trimmed budgets, cut shopping trips and switched to private label brands in the recent quarter.   The company's CEO Michelle Gass told CNBC's "The Exchange" Thursday that middle-income customers felt the greatest pinch as inflation hit record highs, noting the implementation of more promotions to boost sales.   "We're seeing our upper-income customers be fine," Gass said. "In fact, we're seeing more customers and they're spending more." Meanwhile, Tapestry, owner of Coach and Kate Spade, said that its focus on the higher-end customer has enabled further price hikes.    "The disparity between the higher-end and lower-end consumer couldn't be more apparent from this morning's earnings," says CNBC's Robert Hum. "And that caused starkly different responses from two retailers in recent months."   The Leuthold Group's Jim Paulsen agrees that inconsistencies exist across the board in the retail sector, but many are faring much better than anticipated given the current environment.   "The retail companies of late have been hanging in there pretty well in the face of very weak consumer confidence and fairly weak overall real growth statistics," he said. Samantha Subin | Associate Markets Reporter @samantha_subin Watch our live stream for all you need to know to invest smarter. TOP NEWS  S&P 500 and Nasdaq end Thursday slightly higher as summer rally struggles Home sales fell nearly 6% in July as housing market slides into a recession Jobless claims edge lower as Fed looks to cool labor market Judge says some of DOJ's affidavit used to obtain Mar-a-Lago search warrant can be unsealed When the bond market flashes a recession warning, these are the stocks to consider, Trivariate says Cisco shares on track for best day in almost two years after earnings beat Stocks including Honeywell and Emerson are under-the-radar beneficiaries of the climate bill Kohl's cuts guidance, blaming inflation for softer sales from middle-income shoppers Childhood polio vaccination rate is dangerously low in some New York communities, increasing the risk of an outbreak Turkey shocks markets with rate cut despite inflation near 80% TOP VIDEO Any FAANG not in the ad business is getting in, says Needham's Laura Martin CNBC PRO This growth fund is among the best this year with a 13% return. Here's what it's buying now SPECIAL REPORTS Workers have more than $500 million socked away in state-run retirement plans — and Delaware is the latest to add one Management fees can shave thousands off your investment returns over time—Here's how to decide if they're worth it Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS