AAL

3 Retail Stocks Cooling Off Despite Upbeat Data

Target will hire 100,000 workers for the holiday season

Digital Content Manager
Sep 17, 2024 at 12:44 PM
facebook X logo linkedin


Retail sales showed a surprise 0.1% gain in August, contributing to today's broader market tailwinds and boosting Treasury yields. Despite the better-than-expected reading, shares of Target Corp (NYSE:TGT), TJX Companies Inc (NYSE:TJX), and Costco Wholesale Corporation (NASDAQ:COST) were last seen trading well within negative territory.

TGT is down 0.2% to trade at $152.53 at last glance, after the company yesterday announced it will hire 100,000 workers for the holiday season. The equity surged to its highest level since April after gaping to Aug. 5, year-to-date low of $132.42, and just bounced off the 40-day moving average last week. In the last 12 months, TGT has added roughly 28%.

TJX attempted to conquer its Aug. 28, all-time high of $121.12 in the previous session, but ultimately settled below the $120 level. The equity is down 0.5% to trade at $118.98 at last check, but still sports a 27% year-to-date lead and can rely on the 20-day moving average ready to contain any additional losses.

Cooling off from its Sept. 13, record high of $923.83, COST was last seen down 0.5% to trade at $903.23. The 20-day moving average has been guiding COST higher since early August, with the added benefit of a floor at $880. So far in 2024, Costco Wholesale stock has added 36.9%.

 

Getting Started With Options:
OPTIONS BASICS

Are you ready to start learning about options, and how to use them for faster profits? Our FREE GUIDE breaks down basic options trading concepts and vocabulary, how options derive their value, advantages and disadvantages, trading mechanics, and more!


 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.