Call toll-free 800.328.1267
[showmodule id=”58959″]
Forget about Turkey and tariffs. Bulls are flocking to U.S. retailers this week.
Tapestry (TPR) and Advance Auto Parts (AAP) are leading the charge today. TPR, parent of Coach and Kate Spade, shot past estimates on strong hand-bag demand. The resulting 13 percent rally not only erased a crash in May. It was also the biggest one-day gain for the stock in at least three years.
AAP blew past estimates and raised guidance as traffic improved at the supplier of car supplies. It rose 8 percent, while related firms like AutoZone (AZO) and O’Reilly Automotive (ORLY) followed in sympathy.
But that’s not all because the bigger fish have yet to weigh in. Macy’s (M), one of the most heavily traded names in the entire group, reports tomorrow morning. Wal-Mart Stores (WMT) and JC Penney (JCP) follow on Thursday.
Target (TGT), another big kahuna averaging more than 20,000 options contracts per day, follows next Wednesday, August 22.
Tapestry (TPR) with 200-day moving average and earnings reports.
Aside from those quarterly reports, remember that the Commerce Department announces retail sales tomorrow morning, and the University of Michigan’s consumer-sentiment number is due Friday.
There was at least one other positive this week. Just yesterday the National Retail Federation boosted its 2018 estimate for sales growth to 4.5 percent from a range of 3.8-4.4 percent. The organization credited the improvement to tax cuts and “gains in disposable income.”
In conclusion, retailers are pushing new highs as investors focus on their exposure to a strong domestic economy.
Money is flowing back into stocks as investors hope for a better inflation report this week. The S&P 500 rose 1.9 percent between Friday, May 3, and Friday, May 10. It was the third straight positive week. More than four-fifths of the index's members advanced,...
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Most of the big earnings reports have now occurred, and so far they've done little to boost the market. Companies like Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Caterpillar (CAT) and Intel (INTC) reported profits above Wall Street estimates. However...