Here come the retailers. After a string of positive consumer data showing confidence at a five-year high and decent same-store sales in October, many of our nation's top retail chains are set to report third-quarter earnings results this week. Forecasts from retailers like Wal-Mart and Target are arguably the best gauges of consumer strength now and the jam packed earnings lineup is sure to bring more clarity moving forward.
Wal-Mart Stores Inc (NYSE:WMT) is leading the retail sector higher today. This stock has been one of the strongest stocks in the entire stock market over the past month. This leading retail stock has displayed incredible relative strength by trading higher as the major stock indexes declined lower.
Tomorrow, the United States Labor Department will report the non-farm payroll report for the month of May. The past few job reports from the Labor Department have been absolutely dreadful coming in below expectations. Economists are expecting the May non-farm payroll report to show 150,000 new jobs. Many other stock market participants are This report could cause a short term positive reaction in the stocks market if it is better than expected. ...
Costco Wholesale Corporation (NASDAQ:COST), and Dollar Tree Inc. (NASDAQ:DLTR) are holding up the retail sector both of these stocks are trading higher by over 1%. Intra-day resistance on COST is around $85.00 and $85.50; DLTR is around the $100.75 and $101.28 levels. Some other retail stocks trading higher include Wal-Mart Stores Inc. (NYSE:WMT), The TJX Companies Inc. (NYSE:TJX), and Zumiez Inc. (NASDAQ:ZUMZ).
This morning, the leading retail stocks are showing early strength. The popular Market Vectors Retail ETF (NYSEARCA:RTH) is trading higher by 0.11 cents to $41.23 a share. This leading ETF has been under selling pressure since May 1, 2012 when it traded as high as $42.69 a share. Short term traders should watch for intra-day resistance around the $41.50, and $41.80 levels.
This afternoon, all of the leading retail stocks are trading higher on the session. The Merrill Lynch Retail HOLDRS ETF (NYSEARCA:RTH) is trading higher by 0.47 cents to $41.07 a share. This signals that most retail stocks are trading higher today. Other leading retail stocks such as Target Corporation (NYSE:TGT), Big Lots, Inc. (NYSE:BIG), and The TJX Companies, Inc.
The leading retail sector has been surprisingly strong despite the high price of gasoline in the United States. The Market Vectors Retail ETF (NYSEARCA:RTH) is finally declining this morning. The important and highly followed RTH is trading lower by 0.34 cents to $41.74 a share. Short term traders should watch for intra-day support around the $41.40, and $40.75 levels.
The TJX Companies, Inc (NYSE:TJX) is an off-price apparel and home fashions retailer in the United States and worldwide. The TJX Companies, Inc achieved its new 52 week high price of $37.15 where it was opened at $36.92 up 0.48 points or +1.31% by closing at $37.09. TJX transacted shares during the day were over 5.18 million shares however it has an average volume of 4.34 million shares.
