Monday, August 14, 2017 11:29:23 AM
Tomorrow morning is a big day for retail. Companies such as Coach Inc(NYSE:COH), TJX Companies Inc(NYSE:TJX), Home Depot Inc(NYSE:HD) and Dicks Sporting Goods Inc(NYSE:DKS) are all scheduled to report earnings ahead of the opening bell tomorrow. What do all of these companies have in common? They have all been hurt by the Amazon effect. Even Home Depot Inc(NYSE:HD) saw its stock drop after Amazon announces that it will sell appliances from Kenmore which is owned by Sears Holdings Corp(NASDAQ:SHLD).
Traders and investors will want to watch the SPDR S&P Retail (ETF)(NYSEARCA:XRT) very closely as this will be driven by these leading retail stocks. Since June, the XRT has been in a trading range between the $41.75 and $38.75 levels. Now we will see if these retail giants will move the needle in the XRT tomorrow.
Nicholas Santiago
InTheMoneyStocks
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