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Retail Is No 1-Day Wonder As Apple, Chips, FANGs Stall: S&P 500 Futures | Stock News & Stock Market Analysis

Futures for the S&P 500 index rose modestly late Tuesday. Retail stocks and groups were market leaders during the regular session, with Macy’s (M), Kohl’s (KSS) among the big winners, with Wal-Mart (WMT) moving closer to a buy. Meanwhile, Apple (AAPL) was a big laggard, dragging down chip stocks such as Micron Technology (MU) and Broadcom (AVGO), while Facebook (FB) continues to struggle.

X What’s more surprising is that this is not a one-day phenomenon. Left for dead for much of the year, retailers have come roaring back, especially during the holiday shopping season. Meanwhile, Apple, chips and FANG stocks have been lackluster to down.

S&P 500 index futures rose 0.2% vs. fair value. Nasdaq 100 futures also climbed 0.2%. Dow futures edged up 0.1%. During the regular session, the Nasdaq fell 0.3%, weighed down by Apple and chips. The S&P 500 dipped 0.1% while the Dow lost a fraction.

Retail Revival

The Retail-Department Store group rose 3.5% on Tuesday, leading all 197 industries tracked by IBD. Macy’s climbed 4.6% and Kohl’s 6%. Retail-Apparel/Shoes/Accessories popped 1.8%, Gap (GPS), Ross Stores (ROST), Abercrombie & Fitch (ANF) among the strong performers. Triggering Tuesday’s move: Holiday retail sales rose the most since 2011, according to Mastercard Advisors.

But since the Thankgiving holiday, the S&P Retail Index has climbed 6%, IBD’s Department Store group has popped 22% and the Retail-Apparel/Shoes/Accessories industry has rallied 17%.

Retailers aren’t offering many potential buy points. Wal-Mart is a big exception, rising 1% Tuesday to just 1% off a new entry. But most retail stocks are already extended — like Gap, Five Below (FIVE) and Ollie’s Bargain Outlet (OLLI) — or rebounding from a long slump like Kohl’s.

Apple, FANGs, Chips Lag

Meanwhile, Apple has fallen 3% over that span. So has Facebook. (As for Facebook’s FANG peers, Netflx (NFLX) lost 4%, Alphabet (GOOGL) 1% and Amazon (AMZN) up 2%.)

The Philadelphia Semiconductor Index has sunk 5%, while IBD’s Semiconductor-Equipment group has skidded 11%.

Much of Apple’s loss came Tuesday, with the tech titan falling 2.5% as some analysts cut iPhone X demand estimates.

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