Tesla pops, home builders under pressure, ScottsMiracle-Gro falls

[ad_1]

Yahoo Finance’s Ines Ferre joins the Live show to break down how stocks are moving in early trading.

Video Transcript

INES FERRE: Yeah, Sozz, and just taking a look at the markets right now, we’re looking at a mixed picture. Let’s look at the sectors. We’re seeing communication services, which is in the green. Consumer discretionary, energy stocks also in the green. You’ve got consumer staples and real estate that’s under pressure.

Over on the NASDAQ 100, Tesla outperforming, up more than 3%. Some of the Chinese ADRs are also higher. I do want to over on the Dow, Intel dragging on the Dow, down more than 3%. And just wanted to note also the energy stocks, because ExxonMobil just touched earlier $105 per share. That is a new, fresh all-time high, as we have seen energy stocks outperforming as far as the sector is concerned.

Taking a look also at home improvement stocks, these are under pressure. We had that mortgage demand data that shows that it’s continuing to fall. So we are seeing some pressure on the homebuilders. And then I just want to touch on one trending ticker, which we don’t talk a lot about, but it’s Scott’s Miracle-Gro, cutting its sales outlook, saying that retailers haven’t replenished orders as expected.

Now, this is the maker of lawn and garden products. And analysts say that this goes with a theme a little bit of what we heard from Target earlier this week with retailers that have more inventory than they would like. They’re trying to get rid of that inventory. And this will result in less orders. So you’re seeing now the stock for SMG under pressure, down almost 9%, guys.

BRAD SMITH: All right, yeah, traders giving the SMH to SMG. Thanks so much for breaking that all down for us. Ines Ferre, appreciate it.

[ad_2]

Source link