Stocks mixed ahead of closing bell, retailers experienced a turbulent February session
Yahoo Finance markets reporter Jared Blikre takes a look at the markets ahead of the closing bell on Wednesday.
Video Transcript
[AUDIO LOGO]
DAVE BRIGGS: All right, just a couple of minutes away from the closing bell. So let's bring in Yahoo Finance's Jared Blikre to break down the market action as we start a new month. Not a great one to close out February.
JARED BLIKRE: Could be better. I'm looking at some earnings here. So let's go over those first. Now, Lowe's having its worst day since the last presidential election. Let's actually put a five-year chart on there. That is after guidance on its first quarter comparable sales disappointed. So the home improvement retailer is saying they will trail their annual forecast of unchanged to down 2%. Wells Fargo is saying on the conference call, saying it didn't go as well as planned. Adding, "All in all, we believe a digestion period is warranted." They're rating the stock an overweight with a price target of $245.
Kohl's is also slipping too. So let me find that on our screen right here. And there we go. It's down about 1.8%. That's after reporting what is a surprise loss in the fourth quarter and forecasting weaker than expected 2024 guidance. Vital Knowledge's take, saying awful. And with that, the dividend is in question. Well, at least they slashed their inventory.
So let's take a look at what's been going on in the general market right here. And we can see it is a mixed market. The Dow has just barely climbed into positive territory. You can see here's the intraday chart. S&P 500 and the NASDAQ are lagging a little bit. And we'll go back here. Let's go over some sector action with one minute to go in trading. And here we go. We saw a few sectors in the green, energy notably, followed by materials and industrials. All three of those are outperforming. To the downside, utilities, real estate, and consumer discretionary. Those are flagging right now. Those are down 1 and 1/2%.
If we take a look inside the NASDAQ-- looks like we got 30 seconds to go here-- some software names, some chip names standing out, some Chinese names. Pinduoduo, jd.com, 3%, 2% respectively. Intel up about 1 and 1/2% But for the most part, a lot of these tech names taking it on the chin. Nvidia is down 2%. Amazon giving back gains of about 2% as well. If we take a look at some of our leaders here, let's look at the number one spot, KWEB.
