Watch Nordstrom shares, this industrial ETF and these energy stocks in tomorrow’s trading

THU, JAN 19, 2023

The goal of this newsletter is to get you ahead of the next day of investing and trading. It's your first look at tomorrow and last look at today powered by the team of people who direct CNBC TV's stock market coverage.

Tomorrow's Top CNBC Stories Tonight

Nordstrom shares details on holiday sales

Nordstrom is the latest major retailer to weigh in on holiday sales, slashing its outlook and sending the stock lower in the extended session. CEO Erik Nordstrom said sales were softer than pre-pandemic levels and noted that consumers were being more selective about their spending due to the macroeconomic environment. Mall retailers are mostly higher to start out the year (though Nordstrom's after-hours move pared its gains), despite a mixed picture in holiday sales:
Upbeat holiday sales: Abercrombie & Fitch (stock up 18% MTD), Urban Outfitters (up 11%) and American Eagle (up 5%)
Warned on holiday sales: Macy's (stock up 10% MTD)
No official word: Kohl's (up 20% MTD), Dillard's (up 15%) and Bath & Body Works (up 5%)

A warning from Allstate and Travelers

Allstate posted its worst day since October after warning that its Q4 catastrophe losses would be higher due to winter weather in December. It follows a similar warning from Travelers earlier in the week. Both of those names are among the worst performers in the financials sector this week, with Allstate down 10% (its worst week since March 2020) and Travelers down 5% (its worst since July 2022). The SPDR S&P Insurance ETF (KIE), meanwhile, is on a three-day losing streak but still hovering near its 52-week high.

A rough week for XLI and a few industrial names

The Industrial Select Sector SPDR ETF (XLI) is set for its worst week since September with names like Emerson Electric, Trane Technologies, 3M, and Carrier among the worst performers on the week. J.B. Hunt is the lone name that's firmly higher for the week, and it's only up around 4%. However, much of the sector is still hanging on to strong gains over the past three months: Boeing, General Electric, Equifax, Caterpillar and United Rentals are all up over 30% in that time.

Wall Street isn't giving up on Baxter International

Health-care giant Baxter International hit its lowest level since December 2016 in Thursday's session. The stock is down more than 14% since the start of the year and recently announced plans to restructure, including a spin-off of its kidney care unit. Most of the analysts tracked by FactSet rate the stock as a hold, though zero of the tracked analysts have sell ratings.

Ethan Kraft | CNBC Breaking News and Markets Producer
@ethan_kraft

After a good run, solar stocks take a hit

Enphase Energy fell roughly 11% today. The stock is down 8% in three months.
Sunrun dropped 10.4% today. The stock is up about 25% in three months.
SolarEdge fell 10.3% today. The stock is up 43% in three months.
First Solar was down 7% today. The stock is up 37% in three months.
The Invesco Solar ETF (TAN) dropped 4.7% today. It is up 18% in three months.

EV-charging stocks slip Thursday

EV-charging name Wallbox is laying off workers, and there are reportedly problems with the supply chain in the industry.
That led to a drop for many of the other charging-type stocks.
Wallbox was down nearly 5% today but is up 22% in 2023.
Beam was down roughly 2% today but up 68% in three months.
Blink Charging fell 7% today and is 59% from its 52-week high.
ChargePoint was down 10.6% today, but it's up about 12% so far in 2023.
EVgo fell 10% today but is up nearly 16% in 2023.

What happens next if energy stock earnings have peaked?

Pippa Stevens reports on the energy sector and the impact on stocks if earnings have hit a high point.
Brent and WTI are both above $80 a barrel.
Valero is the best performing stock in the S&P Energy sector so far in 2023, up 9%.
Hess is up 8.5% in 2023.
SLB is up 7.3% in 2023.
Diamondback is up 7% in 2023.
Chevron is down slightly in 2023.
Exxon Mobil is up about 1% in 2023.
Oil and Gas is the top performing energy sub industry in 2023, up 5% led by Schlumberger.
Oil and Gas Refining is also up 5% in 2023, led by Valero.
Oil and Gas Exploration is up 2.8% in 2023, led by Hess.
Oil and Gas Storage is up 1.8% in 2023, led by ONEOK.
Integrated Oil and Gas is up 0.6% in 2023 led by Occidental. That stock is up 4.25% in the new year, outpacing Exxon Mobil and Chevron.

Disruption ahead for Apple suppliers?

On Friday, Steve Kovach will report on which Apple suppliers are most vulnerable to the iPhone giant making its own components.
We know they're looking at making some of their own chips and screens.
Apple, up 4% so far this year, is underperforming almost all the supplier stocks so far in 2023.
At the top of the list is Amkor, up 20% in 2023.
Taiwan Semiconductor is up 18.6% in 2023.
Jabil is up nearly 15% in 2023.
Cirrus is up 14% in 2023.
Micron is up 12% in 2023.
Lumentum is up 12.5% in 2023.
Corning is up about 12% in 2023.
Skyworks is up 9.6% in 2023.
Qorvo is up 9% in 2023.
Intel is up 7.5% in 2023.
Qualcomm is up 7% in 2023.