Weak Retail Sales Offer Boost
A weaker-than-expected February retail sales number has stocks in a positive
mood for a change Tuesday as all three major averages are looking at positive
opens.
Retail sales fell 0.2% for the month which was lower than the 0.2% increase
analysts had expected. What confused markets, though, was an upward revision in
the January report from a 0.7% increase to 1.3%.
The Dow futures are up 52 points, and the Nasdaq futures are up 25.5 points.
The S&Ps look to open up 5.3 points while the yield on the 10-year
Treasury is 4.91%.
Tuesday Movers
Applied Materials
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finished down just 7/16 to 46 5/16. AMAT is trading higher Tuesday and is up to
46 5/8 in pre-market activity.
Another chip stock that has held up relatively well of late is Novellus
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which closed up 1/16 to 42 3/4 on Monday. Novellus is perched slightly above its
50-day moving average and is currently trading up to 43 in pre-market activity.
Intel
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to 28 1/8 following a 27 3/4 Monday close.
Cisco
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trading up to 19 3/16 following a Monday close of 18 13/16.