What lies ahead for retail ETFs after Target slashed its second-quarter profit margin outlook for the second time since mid-May.
Amazon has rebounded strongly this week after shareholders approved the 20-for-1 stock split, announced in March.
The overall earnings picture for the retail sector in Q1 earnings has been disappointing, raising questions about the health of the consumer in the current inflationary environment
Memorial Day Weekend is around the corner and will start the summer travel season. These ETF areas are likely to gain this year from the Memorial Day event.
Walmart tumbled 11% - the maximum in almost 35 years - after the company cut its earnings guidance.
With the earnings season coming to an end, about 40% of the companies in the sector are yet to report, putting the traditional retail ETFs in focus.
Amazon missed on both earnings and revenue estimates. The weak results have pushed AMZN shares lower by as much as 10% in aftermarket hours on elevated volume.
Sector ETF report for RTH
In trading on Monday, shares of the Retail ETF crossed below their 200 day moving average of $182.76, changing hands as low as $182.69 per share. Retail shares are currently trading off about 0.6% on...
In trading on Wednesday, shares of the Retail ETF crossed below their 200 day moving average of $181.85, changing hands as low as $181.57 per share. Retail shares are currently trading off about 1.3%...