Ahead of Black Friday and the holiday shopping season, some retailers are looking rosy.
Michael Kors (KORS), Dicks Sporting Goods (DKS), TJ Maxx (TJX), Saks (SKS) all reported their latest quarterly results Tuesday. Shares of each moved higher. Home Depot (HD), which isn't as much of a Black Friday beneficiary, also posted strong results and cited the ongoing housing recovery. Shares of Home Depot and Dicks Sporting Goods each jumped more than 4%.
Investors appear generally pleased with consumers' shopping habits and are optimistic going into the holiday shopping season. Many on StockTwits are too.
Hurricane Sandy might continue helping Home Depot, but companies like Dicks Sporting Goods had even more surprising reasons for a sales pickup: gun sales.
With the two-day market shutdown due to Hurricane Sandy, investors didn't do much with their money last week.
Overall, they pulled $488 million from long-term mutual funds in the week ended Oct. 31, according to the Investment Company Institute.
But that's far less than normal.
During a typical week this year, investors have injected an average of $5 billion into mutual funds.
The limited activity was partly due to the closure of U.S. MOREHibah Yousuf - Nov 8, 2012 2:22 PM ET
Not a member yet?Sign up now for a free account
|China's economy suffers its worst quarter since the financial crisis|
|Total CEO dies in plane crash|
|Apple profit soars on huge iPhone and Mac sales|
|Facebook tells DEA: Stop impersonating users|
|'I bought a house for $1,000'|