MT Insider: Ahead of Fed Release, S&P Rallies on Positive Retail Earnings

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The S&P has enjoyed its biggest gains today since 8/1, with some traders calling it a "relief rally" after the recent sell off. Ahead of the Fed tomorrow at 2PM ET, economists are expecting a "less hawkish than feared" release.

In a surprise twist, lackluster retail results last week, as evidenced by Macy's ( M ) and Walmart ( WMT ), became a positive for retailers today by effectively setting the bar low.

Thus, better than expected earnings at Best Buy ( BBY ), Urban Outfitters ( URBN ), TJX Companies ( TJX ), and Bob Evans Farms Inc. (BOBE) have all been sufficiently rewarded with higher stock prices.

By industry, Retail, Homebuilders, Real Estate Investment Trusts, and Utilities are outperforming while Industrials and Data Networkers are underperforming.

Recall that last week's housing numbers hit peak levels, and investors are now turning their attention to Toll Brothers (TOLL) with results due out tomorrow morning.

Separately, the other trend making headlines is in the Emerging Markets (EM). While there is positive momentum in the US markets, EM ETFs have lagged. The Reserve Bank of India is taking action in an attempt to bolster the Rupee (INR) while Indonesia officially enters bear market territory.

SPX 1653.75 +6.54 +0.40

M 45.61 +0.66 +1.47

WMT 73.23 -0.35 -0.48

BBY 34.82 +4.09 +13.31

URBN 43.19 +3.27 +8.19

TJX 54.24 +3.49 +6.88

BOBE 52.48 +4.91 +10.32

TOLL 31.63 +0.95 +3.10

EEM 38.49 -0.07 -0.18

USD/INR 63.25



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: BBY , M , TJX , URBN , WMT

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