Stock Market Update

[BRIEFING.COM] The major indices still sport solid declines, but moved off session lows over the last half hour with no specific catalyst. The S&P 500 was down more than 100 points at its lower, but trades about 80 points lower now.

Best Buy (BBY 73.76, -12.98, -15.0%) and Target (TGT 114.31, -6.45, -5.4%) set a soft tone with their earnings results in front of more reports from retailers this week. Ross Stores (ROST 135.73, -1.08, -0.8%) reports this afternoon, Foot Locker (FL 17.09, -0.79, -4.4%) and Abercrombie & Fitch (ANF 94.42, -2.29, -2.4%) report tomorrow morning, Macy's (M 13.30, -0.71, -5.1%) reports Thursday morning, and Costco (COST 1034.64, -12.20, -1.2%) reports Thursday afternoon.

Target, Foot Locker, Abercrombie & Fitch, and Macy's all hit 52-week lows today. 

The SPDR S&P Retailer ETF (XRT) trades 2.0% lower, also reaching a 52-week low.