A flurry of retail results. Some good, some bad. I wonder if restoration or maybe its devastation hardware. Its brutal and they blame the market. Maybe thats the final proof that the high end customer has rolled over. Has pulled back at least. I dont know necessarily were talking about rolled over but theyre blaming the market and theyre talking about volatility and all the things going out on the markets each and every day and i they when you go through the retail environment its good to see howell home depot did and tjx did also. When you look at the names doing well they have some form of exposure to the housing world and where the spending is going on and maybe other names. Macys surprised us sitting here on the desk. Expectations have been so low. They could have gotten over that bar. But they did. That was the real key. Thats why that stock reacted the way it was. They have been punished and pricing in a lot of the negativity. Youre helping me make my point though steve. Restorat
We are seeing stocks fall to their lows of the session. Weve seen a sharp gyration during the course of the session thus far. Some of it appears to be driven by oil, perhaps some people paying attention to those comments by robert kaplan. But overall, we are definitely seeing a negative at this point for the major averages. Take a look at the bloomberg here for the groups on the move. Healthcare is the worst performing group. Then theres technology, financials and energy. I should mention amazon is actually in the Consumer Discretionary index in terms of where it is sectorwise, and that index is very slightly higher, so its not grouped with technology in the s p 500. When you look at healthcare and see the big decline, at least some of that is due to gilead. The companys profit missing analyst estimates. It had disappointing sales of its two blockbuster hepatitis c treatments, and so that is whats behind the steep drop were seeing. Then theres a cycle, which is a Health Waste Managemen
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