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S&P Futures
3,359.25+6.50(+0.19%)Dow Futures
27,744.00+65.00(+0.23%)Nasdaq Futures
11,112.50+40.50(+0.37%)
SPDR S&P Retail ETF (XRT)
50.90 -0.09 (-0.18%)
After hours: 4:15PM EDT
| Previous Close | 50.72 |
| Open | 50.96 |
| Bid | 50.93 x 1000 |
| Ask | 50.98 x 3200 |
| Day's Range | 50.67 - 51.43 |
| 52 Week Range | 26.29 - 51.43 |
| Volume | 4,396,440 |
| Avg. Volume | 4,604,384 |
| Net Assets | 259.36M |
| NAV | 44.10 |
| PE Ratio (TTM) | N/A |
| Yield | 1.54% |
| YTD Daily Total Return | -3.36% |
| Beta (5Y Monthly) | 1.52 |
| Expense Ratio (net) | 0.35% |
| Inception Date | 2006-06-19 |
- Yahoo Finance Video
Ron Johnson on how COVID-19 has changed consumer habits
Ron Johnson, Enjoy CEO and former CEO of JCPenney, joined The Final Round to discuss the state of retail and how consumers have changed their habits due to the pandemic.
- Yahoo Finance
Get ready for the worst US GDP reading on record: Morning Brief
Top news and what to watch in the markets on Thursday, July 30, 2020.
- Yahoo Finance Video
U.S. consumer confidence drops in July after rising in June
Bart Van Ark, Conference Board Chief Economist joins Yahoo Finance’s The First Trade with Alexis Christoforous and Brian Sozzi to discuss The Conference Board Consumer Confidence Index for the month of July.
- MarketWatch
Staples to require face coverings starting Monday
Office supply and electronics retailer Staples Inc. will start requiring face coverings in all its stores starting Monday. Staples is an essential retailer, selling hand sanitizer and other personal protective equipment (PPE) as well as equipment for working and schooling from home. Staples joins retailers like Walmart Inc. and Target Corp. that will require customers to wear face coverings in stores. The SPDR S&P Retail ETF is up 1.4% for the year to date while the S&P 500 index has gained 0.2% for the period.
- MarketWatch
Ann Taylor, Loft parent Ascena kicks off store-closing sales in wake of bankruptcy filing
Ascena Retail Group Inc. , which declared bankruptcy earlier this week, said it has commenced store-closing sales in its stores. The sales are in all of its Catherines stores, a "significant number" of Justice stores and in a "select number" of Ann Taylor, Loft, Lane Bryant and Lou & Grey stores. The company has engaged SB360 Capital Partners as a consultant to conduct the sales. "Because of the compelling discounts and the highly desirable merchandise, we expect this will be a short sale across all stores," said Aaron Miller, executive vice president of SB360. "Customers are encouraged to shop early while quantities last as many of their favorite styles may go quickly." Ascena's stock, which closed Thursday at a 36-year low of 59 cents, has plummeted 92.3% year to date, while the SPDR S&P Retail ETF has gained 1.4% and the S&P 500 has tacked on 0.2%.
- Yahoo Finance Video
Professor warns of looming spike in small & medium-sized bankruptcies
NYU Stern School of Business Professor Emeritus & Bankruptcy Expert Edward Altman joins Yahoo Finance’s Zack Guzman and Julia La Roche to discuss his outlook on bankruptcies amid COVID-19 disruptions.
- Yahoo Finance Video
Only 32% have shopped for in-store non-essentials amid COVID-19: Poll
International Council of Shopping Centers CEO Tom McGee joins Zack Guzman to break down how the coronavirus crisis may impact the future of retail.
- MarketWatch
Bed Bath and Beyond sees 'positive' same-store sales, cash flow in June
Shares of Bed Bath & Beyond Inc. rose 1.1% in premarket trading Tuesday, after the home accessories retailer said June same-store sales were "positive" for reopened stores and digital channels. The company said cash flow during June were also positive. Nearly all stores have reopened, following closures because of the COVID-19 pandemic. Separately, the company said it believes there is between $350 million to $450 million it could get from asset sales and the plan to reduce up to $1 billion of inventory at retail is slightly more than halfway complete. The stock has run up 43.9% over the past three months through Monday, while the SPDR S&P Retail ETF has advanced 25.3% and the S&P 500 has gained 10.9%.
- MarketWatch
Online spending since March 1 was $77 billion higher than expected: Adobe
Online data from Adobe Inc. shows e-commerce spending was $77 billion higher than expected for the period starting March 1, coinciding with the shift to online during coronavirus-related lockdowns. Online spending, which was trending higher than during the holiday shopping period between November and December, totaled $368.8 billion for the first six months of 2020. The latest data also shows a rise in prices for food, clothing and electronics. Online grocery pricing has climbed 4.2% over the past six months. Online apparel pricing was up 2.7% month-over-month, and rose 4.3% year-over-year in June. And prices for computers are up 6.2% since March as the number of people working and educating from home has risen. Inflation has driven digital purchasing power (DPP) into negative territory for the first time ever, "which means consumers can now purchase goods online for $1.01 that would have cost $1.00 in June 2019," Adobe said. The SPDR S&P Retail ETF is down 4.2% for the year to date while the S&P 500 index has fallen 1.4% for the period.
- InvestorPlace
Stick With Nike Stock for the Long Haul
Nike (NYSE:NKE) is a global brand that receives high demand from several generations. This is not likely to change anytime soon. Therefore, it's easy to buy Nike stock on major dips. The world is currently going through the worst economic test of all time, yet it is close to its all-time highs.Source: TY Lim / Shutterstock.com This is the good news. Why? It means that Wall Street still has complete faith in the Nike team and investors are not willing to sell their shares. They did throw a small fit because of an earnings miss, but that is a knee-jerk reaction to a headline.However, at these altitudes, this is not an obvious starting point for new positions.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThere is support below $93 per share, but if for whatever reason the stock drops below that level, it could trigger a bearish pattern for another $8 drop from there. Either of those two would be opportunities to buy shares. The stock rallied 74% out of the March crash. This was an emphatic statement by the bulls -- and it makes the bottom there bulletproof.If for whatever reason Nike stock revisits those lows, it would become a blind buy. Nike Stock Sits on Top of Solid Covid-19 GroundSource: Charts by TradingView Fundamentally the stock is not cheap because it currently has a 61 price-earnings ratio. But these days, this metric may be misleading. That means it's best to table that judgement tool for at least a few more quarters. We have to remember that the world stopped working completely. A disruption this massive needs time the work itself out of profit-and-loss statements.As we recently found out in the U.S., the process is not going to be smooth, and there might be setbacks. * The 7 Best Stocks to Invest in Right Now The good news is that China seems to be on track in its recovery, and it makes up a significant portion of Nike's business. Nike has been in business for almost 60 years so it has survived several major macroeconomic shocks. It has also thrived through its fair share of specific controversies. And every time it proves its critics wrong and comes out even stronger than before.The upside of having stock market corrections is that they usually open the door for opportunities into great stocks like this one. While I would not be racing into full positions at these levels, Nike is definitely on my shopping list for the next dip.But I may not need to wait. Instead of owning shares outright, I can use options to profit from Nike's excellence now. Alternative Strategies to 'Buy and Hold'Traders can sell the October Nike $80 put and collect almost $2. Unlike buying shares and hoping for rallies, this will deliver profits. All this trade needs to win is for Nike stock to stay above $80. The worst that could happen is to own the shares at a 20% discount from current prices. Then, the break-even level would be $78.For this stock to lose $80 would mean that the whole stock market has had another issue. Alone, there's no imminent disaster in Nike stock. In fact, it continues to defy gravity. The retail sector has been under pressure for a decade and it all started with the havoc that Amazon (NASDAQ:AMZN) created.Nike figured out how to adapt, so it continues to win in spite of all the challenges that arise. NKE stock is up 140% in five years whereas the SPDR S&P Retail ETF (NYSEARCA:XRT) is down 12% for the same period. Investors should stick with this winner for the long haul.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Stick With Nike Stock for the Long Haul appeared first on InvestorPlace.
