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 (
) and Walmart (
), became a positive for retailers today by effectively setting the
Thus, better than expected earnings at Best Buy (
), Urban Outfitters (
), TJX Companies (
), 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,
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
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