The markets were lower today and failed to rally off their lows like yesterday. The Dow 30 was lower by 30, the S&P 500 lost 5, and the Nasdaq 100 was off by 19. Tomorrow is full of potentially market moving news including retail sales, and crude oil inventories.
TJX Companies (NYSE: TJX) was one of the focus stocks today as earnings results cause a decline of 4.04%. The move today briefly touched new lows for the stock as investors responded to flat same store sales. Analysts had predicted an increase in same store sales but the retailer disappointed. Guidance was also lower than expected which assisted in the higher volume day. The stock is now lower by 10% on the year.
Dick's Sporting Goods (NYSE: DKS) was another retailer to get hit today. Shares fell 2.77% on the day despite an earnings report that showed sales and profits better than the streets expectations. The selloff comes as the retailer said that 2018 earnings could drop as much as 20%. Shares continue to hover near lows and are down over 50% on the year.
Home Depot (NYSE: HD) bucked the retail trend today as shares were higher on the day by 1.64%. The stock nearly hit new highs as they reported a beat on earnings and same-store sales. Many had predicted this due to hurricane spending. This was part of the reason the home improvement retailer raised its full-year guidance. Shares are higher by 25% on the year and remain near highs.