The major indices are in negative territory, with the Dow
underperforming, largely due to weakness in home improvement retailer
Home Depot (HD 27.96, -0.91). Home Depot reported earnings that topped
analyst expectations, but traders are still driving the stock 3.1%
lower.
As a result, the S&P 500 Retailer Index (-1.4%) is under some
selling pressure, despite better-than-expected earnings at Target (TGT
55.23, +0.31).
Seven of the ten economic sectors are posting a loss in early trade,
with notable declines in materials (-1.3%), tech (-1.1%) and financials
(-1.2%). The defensive utilities sector (-0.4%) is outperforming.