Consumer Confidence Drops; Retail ETFs in Focus Tuesday, September 28, 1:15 PM ET, by ETF Channel Staff The Conference Board released a disappointing consumer confidence report this morning, putting retailer and retail ...
By Market News Video Staff, Wednesday, November 17, 1:54 PM ET
Retail stocks are gaining strength today from reports from Target (NYSE:TGT) and BJ’s Wholesale Club (BJ). BJ’s posted a better-than-expected full-year forecast, leading shares higher by 3.4% today. Target said it is looking for its strongest quarter in the last three years for the holiday season, driving its shares higher by almost 4% this afternoon.
Likewise, the Retail HOLDRS Fund (AMEX:RTH) is trading higher by 0.5% on the news. According to the ETF Finder, Target is the fourth-largest stock in the fund at 8.52% of the total. Rival Wal-Mart (NYSE:WMT) is the top stock, at 19.29%. BJ’s rival Costco is the seventh-largest stock in the fund, at 5.06% of the portfolio.
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