As retailers gear up for the onset of the holiday shopping season, many released earnings today and the Commerce Depart reported retail sales rose last month.
Retail sales rose 0.5% in October, or 0.6% excluding auto sales.
The figure exceeded economist expectations, and compares to a 1.1% gain in September.
Wal-Mart (NYSE:WMT) and Home Depot (NYSE:HD) were among the major retailers reporting results today.
Saks (SKS) posted earnings that fell short of analyst estimates, although revenue exceeded expectations. TJX (NYSE:TJX) reported earnings per share ahead of analyst forecasts, however revenue fell short.
The Retail HOLDRS (NYSE:RTH) ETF, with Wal-Mart (NYSE:WMT) and Home Depot (NYSE:HD) as its top two holdings, is trading down .7% Tuesday.
The Dynamic Retail Portfolio (NYSE:PMR), with iconic department store Macy's (NYSE:M) as its top holding and TJX in its top five, is trading up .5%.
And the SPDR S&P Retail ETF (NYSE:XRT), with a broad range of holdings, is trading down over .6% Tuesday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.