Sectors in focus: Aerospace, EVs, retail, housing

Yahoo Finance markets reporter Jared Blikre highlights stocks making major moves towards the closing bell.

Video transcript

- About the end of the trading week, Jared Blikre here with some stocks moving ahead of the closing bell. What are we seeing?

JARED BLIKRE: That's right we're checking out Boeing first. It's up about one third of a percent right now, and the industrial giant getting a boost on news that Air India close to a deal to buy 150 737 MAX Jets with 50 of those to be delivered immediately up front. Though our aerospace board is mainly red today, Boeing supplier, Spirit AeroSystems, is also in the green, got a little bit of a boost off that number as well.

Meanwhile, we got to check out the EV space. Now, we're seeing mostly green, but not in terms of some of these Chinese stocks. Those would be clustered over here. We're seeing, for instance, some of these stocks such as Li Auto down 13%, NIO down 5%, Lucid Motors down 2%. And that says we're not seeing any fundamental news right here. But Lucid Motors is at an all time low right now, and that's trading. All of these are up more than 50% from their highs, except Lucid.

So let's take a look at that stock right now. If we check out a Max chart, you can see there it is, camping out below $10 per share. And I believe that deal came via a SPAC, so a little bit of luck there. We'll have to see what happens with that.

And up next, we are going to check out the retailer space. And that's because retailer, Costco, reported earnings, earnings that came short of expectations, not only on the top line, but also on the bottom line. But you can see the stock is still up about half a percent there. The miss in gross margins pointing to a softening environment for the retailer. Meanwhile, Oppenheimer is saying that this was, quote, "an essentially in line quarter for Costco, and that street estimates are too aggressive."

Now finally, in homebuilder news, well actually not homebuilder but home furnishing news, we want to check out RH, formerly Restoration Hardware. That stock is up 3% after earnings. Citi put it best. Here's a quote for you "A modest beat and guidance raise was never so ominous." And that's as the RH CEO, Gary Friedman himself, described a quote, "complete collapse of the luxury housing market." And this is amid near-term uncertainty as well.

So Dave and Shawna, I think it becomes a question of, well, has RH seen the worst of times or the best of times. Gary Friedman likes to experiment, not a typical retailer here.

- I'm glad you brought up that quote. I haven't seen this kind of drop since 2008, said Friedman, about the housing market. I was shocked to hear that. Very few real estate analysts across the country feel that way. But he obviously has a different look at it.

- Yeah, and he was also saying it looks more like a crash landing to him, unpredictable right now given that macro uncertainty. The fact that the stock is still 3% higher today, I'm a little bit amazed by that. Because certainly if you take a look at his predictions, the guidance that we got from RH in terms of what we heard from the CEO, he certainly sees what could be a pretty rough time for the company over at least the coming quarters.

JARED BLIKRE: Yeah. Well, they don't do any discounting. It's not like you're going to walk in a store and see a bunch of holiday stuff out there. He's doing it the old-fashioned way. And maybe it pans out, maybe it doesn't. But he's got his head to the grindstone. I will say that.

- We will see how the slowdown in housing affects RH going forward. Jared Blikre, thanks so much.