In a busy trading day, the focus turned to several key sectors as investors prepared for a range of earnings reports and indicators ahead. Among them is Deere & Company, poised to release its financial results Wednesday morning at 6:15 a.m. ET during CNBC’s “Squawk Box.” Shares of the industrial giant have climbed 2% over the past three months, though they remain approximately 7% shy of their May peak. In comparison, the S&P Industrials sector has remained mostly flat over the same time frame and is about 2.6% from its high on October 27.
As the holiday shopping season approaches, retail stocks in malls have captured attention, particularly as consumer sentiment swings into gear. Notably, Five Below has seen a remarkable rise of 78% since last year’s shopping season, and it is just 3% away from its October 27 high. Other mall-centric brands such as Tapestry, Ralph Lauren, Dillard’s, and Macy’s have also shown impressive gains over the last year, with increases of 77%, 66%, 43%, and 37%, respectively. Kohl’s recently hit a new 52-week high, with shares closing up 42.5%, resulting in an overall yearly gain of 22%. The Buckle, a popular clothing retailer, has appreciated by 10% over the past year, while Bath & Body Works and Macerich have faced challenges, declining by 53% and 16%, respectively, over the same period.
In the realm of online shopping, specific ETFs have performed exceptionally well. The ProShares Long Online/Short Stores ETF (CLIX) has appreciated more than 28% in the past year and remains just 4% short of its November high. The ProShares Online Retail ETF (ONLN), which includes major online retailers like Amazon and MercadoLibre, is up more than 26% year over year, currently standing 7% from its early October high. Shopify has also posted a substantial increase of 42% over the past twelve months. Meanwhile, Amazon has seen a more modest rise of 14% in the same timeframe and is around 11% from its peak on November 3.
On a different note, the cannabis sector continues to struggle as it faced significant declines. Canopy Growth has plummeted over 70% year over year, while Tilray is down 58% from its October 9 high, trading at under one dollar per share. Trulieve is also experiencing setbacks, having dropped 47% from its August high.
As the trading week continues, investors will be closely monitoring these sectors as earnings reports and consumer behavior during the holiday season will serve as critical indicators of market health.
