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Markets struggle as investors digest Fed minutes, retail stocks mixed amid earnings

Anchor Seana Smith examines how markets are reacting to the recent Fed meeting meetings, while checking out how major retail stocks are fairing and looking at the intraday sector action.

Video transcript

SEANA SMITH: Well, Brian was just talking about what we heard from the Fed minutes. And I want to point out what we saw right at 2:00 PM. You can see the Dow briefly spiking, although we are off the highs of the day. So now we're still back in negative territory, off just about a quarter of a percentage point. So much less than what we were seeing earlier on in the morning trading. Same goes with the NASDAQ, now off just about 70-- about 3/4 of a percentage point. The S&P off just about 4/10 of a percentage point.

Let's take a look at yields. The 10-year yields here paring some of those earlier gains. You can see it up just about six basis points right now at 2.88, the 13-week Treasury bill here out just around 2.50. So movement here, as we know that is very sensitive to any policy changes. Let's take a look at the retail sector. A couple of big stories out today, Target being one of them. The huge miss that we saw there, we're seeing that reaction in Target stock, off just about 2% here today.


Over the last-- let's pull up a month chart here-- it's been a rocky time for retail, although Target has fared a little bit better than most of their competitors out there. You can still see it up just about 20% over the last month. TJX was also out with earnings before the bell. You can see that stock up just about 4% today, up 14% over the past month. We're going to continue to get some of the earnings results from retailers this week. We have Kohl's out before the bell tomorrow. So certainly something to keep an eye on.

Let's pull up the sector action because we're seeing a bit of a mixed picture here as we try to pull that up, although it looks like things might be a little-- here we go, pulling up this sector action. I want to point out what we're seeing play out in energy because it certainly is bucking the downward trend that we're seeing in the market today. You can see the XLE up just about nearly 1% today. And those gains coming on the heels of what we're seeing in crude.