A Bad Holiday Season Is Punishing These 2 Stocks
Stocks looked poised to keep moving higher on Monday morning, adding to positive momentum from a strong showing on Friday. Increasingly, investors believe that central banks won't be able to sustain tighter monetary policy in light of deteriorating economic conditions, and that belief is a potential positive for stocks that have taken hard hits due to rising rates. Stock index futures were up about half a percent early Monday morning.
The retail sector has been a focal point of attention for investors lately, and even before earnings season starts in earnest, some of the best-known retailers have come out with warnings about how the holiday quarter might not have lived up to expectations. In particular, Lululemon Athletica (NASDAQ: LULU) and Macy's (NYSE: M) weighed on Wall Street after giving updates on how their respective quarters went. What they said could have implications across retail and point to how consumers are faring in an inflationary environment.
Shares of Lululemon Athletica were down 9% in premarket trading Monday morning. The yoga and athletic apparel retail specialist offered a business update, and investors weren't pleased with some of the numbers they saw.
Source Fool.com
