On Wednesday, the Commerce Department reported retail sales, excluding automobiles, gasoline and building materials, rose 0.5 percent in October. Economists had expected core sales to rise by 0.3 percent, according to data collected from Reuters. "It reinforces the current narrative of sustained growth momentum in the recovery going into the last quarter of the year, even at a time when the economy was contending with the headwinds created by the government shutdown," said Millan Mulraine, senior economist at TD Securities in New York. The larger than expected gain comes as a welcome sign to retailers as they head into the crucial holiday season. Here is how some retailers reacted Wednesday:
Costco Wholesale Corporation (NASDAQ: COST) shares traded in the range of $122.43 to $124.21 Wednesday before settling to close at $122.76, a decrease of 0.70 percent. The stock appears to be facing some resistance at the $124.53 and $125.80 levels with some support at $121.33. Shares of Costco Wholesale have gained approximately 24.0 percent in 2013.
More information on Costco Wholesale and access to the free equity report can be found at:
www.WallStreetFundamentals.com/COST
Nordstrom, Inc. (NYSE: JWN) shares traded in the range of $61.64 to $62.53 Wednesday before settling to close at $61.76, a decrease of 0.18 percent. The stock appears to be facing some resistance at the $62.15 and $62.84 levels with some support at $61.69. Shares of Nordstrom have gained approximately 15.0 percent in 2013.
More information on Nordstrom and access to the free equity report can be found at:
www.WallStreetFundamentals.com/JWN
Macy's, Inc. (NYSE: M) shares traded in the range of $50.47 to $51.00 Wednesday before settling to close at $50.96, an increase of 1.09 percent. The stock appears to have some support at the $50.75, $50.39 and $49.73 levels. Shares of Macy's have gained approximately 30.0 percent in 2013.
More information on Macy's and access to the free equity report can be found at:
www.WallStreetFundamentals.com/M
Target Corporation (NYSE: TGT) shares traded in the range of $66.22 to $67.25 Wednesday before settling to close at $66.49, a decrease of 0.21 percent. The stock appears to be facing some resistance at the $68.03 and $71.25 levels with some support at $65.92. Shares of Target have gained approximately 12.0 percent in 2013.
More information on Target and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TGT
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