Ahead of scheduled earnings announcements from ^TGT^, a number of retailers were among the few stocks making gains on Tuesday. Leading the Russell 1000 was Urban Outfitters ^URBN^, up more than 11% and closing at new short term highs.
Technology remains a source of weakness in the market. Shares of ^GOOG^ closed lower for a sixth straight trading day, while ^AAPL^ closed down for a fourth. Both stocks pulled back by well over 1%.
Here are 7 Stocks You Need to Know for Wednesday.
Reporting quarterly earnings before the bell Wednesday morning, ^BJ^ pulled back for a fourth day in a row above the 200-day moving average on Tuesday.
Pulling back for a third day in a row – also on the eve of its quarterly earnings announcement – was ^LTD^ (below).
LTD is only recently off year-to-date highs and pulled back by well over 1% on Tuesday.
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Rallying to new, year-to-date highs after a two-day pullback were shares of ^MAT^.
Also pulling back from year-to-date highs over the past few days is ^SBUX^ (below):
Shares of SBUX are trading at their most oversold since mid-October. Tuesday’s sell-off brought the stock lower by more than 3%.
After a four-day pullback, shares of ^WMT^ gained more than 1% intraday on Tuesday before retracing over a third of the session’s gains. The stock still managed to close above its 5-day moving average.
Down more than 4% and closing lower for a third day in a row were shares of ^FCX^ (below) ahead of trading on Wednesday.
The last time shares of FCX were this oversold was at the end of a four-day pullback from mid-October.
^MA^ pulled back by more than 4% in trading on Tuesday. Now in oversold territory above the 200-day moving average, the stock has pulled back by more than 7% over the past four days.
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David Penn is Editor in Chief of TradingMarkets.com