Retailers drop on earnings revisions

 

Major indices are down at mid-day Thursday, led by a number of traditional brick and mortar retailers that released negative earnings revisions related to a weaker than expected holiday season. The combination of yesterday’s failed bipartisan meeting and President Trump’s travel to Texas today mean that the current US government shutdown will likely include at least one missed paycheck for federal employees, and could stretch to a record-breaking 22+ days if it continues into the weekend. Initial unemployment claims came in below expectation this morning while continuing claims also shrank, indicating continued strength in the job market despite recent stock market volatility. 

At present, the S&P 500 is down 0.30%, the DJIA is down 0.18%, and the NASDAQ is down 0.24%.

Industries doing well today include Containers & Packaging, Beverages, and Industrial Conglomerates. Industries showing weakness include Airlines, Multiline Retail, and Personal Products. The VIX is up 0.82 to 20.80 after the previous close of 19.98. The most heavily traded options this morning are for the Russell 2000 Ishares ETF (IWM), with 15,008 Feb 15 135 puts on the board. The total put/call ratio as of 11:30 AM was 1.28 (631,455/491,454). The advancers/decliners ratio for NYSE stocks is 1,072/1,750 while the advancers/decliners ratio for NASDAQ stocks is 1,061/1,836.

[InvestorsKeyhole, various news and data sources]

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