Markets Flat Ahead of Fed Release, Electronic Retailers Falter
Markets are struggling to find direction on a relatively light news day, with the primary event being the 2 p.m. EDT release of meeting minutes from the Federal Reserve. As of this writing, the S&P 500 was flat on the day while the Dow Jones Industrial Average was down slightly. Shares of Hewlett Packard are leading all Dow components while energy stocks ExxonMobil and Chevron are seeing nice gains due to rising oil prices. Outside of the Dow, shares of electronics retailers hhgregg and Best Buy are experiencing selling pressure after the former offered a negative earnings pre-announcement, one of many we have seen across sectors in recent days. In the following video, analyst Brenton Flynn goes through some additional developments, and details the negative announcement from hhgregg.
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At the time this article was published Brenton Flynn owns no shares of the companies mentioned. The Motley Fool owns shares of ExxonMobil and Best Buy. Motley Fool newsletter services have recommended buying shares of Chevron and hhgregg. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.