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Target and Walmart stocks climb ahead of deal days

Yahoo Finance Live’s Brad Smith breaks down how stocks are moving after the opening bell.

Video transcript



JULIE HYMAN: On this Thursday morning-- oh, look at that, the New York Rangers ringing the bell here this morning.

BRIAN SOZZI: You're a Ranger fan, right?



JULIE HYMAN: I don't know.



BRIAN SOZZI: [LAUGHS] They play hockey. Hockey.

JULIE HYMAN: That I know. That much I know. That much I know. And so it looks like we've got a lower open here in New York--

- Let's go Rangers!

JULIE HYMAN: --City, despite the enthusiasm there.


Oh, "Let's go Rangers."

BRIAN SOZZI: Is that Mark Messier on there?

- Let's go Rangers!

BRIAN SOZZI: I can't tell. What's the bald guy?

JULIE HYMAN: They got a chant going. All right, all right, let's talk about the markets, folks. You're Rangers, great.

- Let's go Rangers!

JULIE HYMAN: I know how much all of our producers love sports, but let's take a look at what's going on with the markets because we've got a pause in the rally that we've been seeing as of late. And now, we've got all three major averages opening in the red.

The Dow actually leading the way downward here today. And I know Brad is taking a look at some of the groups that are on the move.

BRAD SMITH: Yeah, we are pretty much red across the board, except for one bright spot, which I want to zero in on a hot second there. And that is XLY, consumer discretionary. But we've got 11 out of-- or 10 out of 11 S&P 500 sectors right now in negative territory to start off the day.

I mentioned that zero in on consumer discretionary. As of right now, holding on to slight gains, by the hair of chinny-chin-chin of about 1/10 of percent. And here's why I want to go further into that. You've had a lot of news come out in the retail landscape here today.

And diving into the retail heat map, as we kick off today's trading session. I'm just gonna make this equal, give us a good look at a lot of the names as they're trending here on the day. And you still do have a lot of positive momentum.

Keep a close eye on Target, TGT, that is a company that's kicking off some of its Deal Days today, October 6 through 8. And that really comes as we're seeing some of the holiday sales get pulled earlier in the year. We've seen that from Target. We've seen that from Walmart as well.

Not to be confused with Target's Deal Days, Walmart's Deals for Days. That's gonna go live next Monday, October 10, and that's gonna run through the 13. And then after that-- or within it, rather, you've got Amazon's Prime Early Access Sale, October 11 through 12.

So I'm keeping a close eye on Target here on the day. That's holding on to some gains at the open. You've also had some deal-making as well take place. Walmart buying Alert Innovation. And so we'll continue to see exactly where Walmart moves from here. You're seeing those shares hold on to slight gains, fractional gains, by about 4/10 of percent.

And since I mentioned Walmart and Target, also got to mention Amazon as well here, as I'll just make this a market weight-- we call them out real quick. They're down by about 2/10 of a percent right now.

And we mentioned some of the hiring that's been taking place. Of course, we knew Target was going to hire up to 100,000 holiday workers. We know that Walmart was going to hire 40,000. Now, Amazon announcing today that they're going to hire 150,000 workers for the holiday season, along with a pay of about $19 an hour. So we're gonna keep a close eye on all of these retail stocks as we move on throughout the rest of the day. But that's a broad look at where we're trending right now in retail. I'll toss things back on over to the desk.

JULIE HYMAN: And oh, look, and Amazon went from slightly down to slightly up here--

BRAD SMITH: Yeah, there you go.

JULIE HYMAN: --before our very eyes.