Retail is getting hit today on the back of poor earnings from some big names in the sector.
The Retail HOLDRS Trust (NYSE:
RTH) is down 1.63% while the SPDR S&P Retail ETF (NYSE:
XRT) is down 1.84%.
Yesterday Bed, Bath & Beyond (NASDAQ:
BBBY) gave a disappointing outlook while Nike (NYSE:
NKE) warned about increased cost pressures. Shares of Bed, Bath & Beyond are down more than 4% while shares of Nike are lower by more than 3%.
With disappointing May data on both existing- and new-home sales, demand in the home-furnishings and home-goods sector may stall.
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