Nasdaq Climbs Despite Retail Pressure From Ross, Ulta
The stock market's resiliency has been surprising lately, especially given all the uncertainty related to the coronavirus pandemic. Even with a rise in the number of COVID-19 cases reported, the Nasdaq Composite (NASDAQINDEX: ^IXIC) has been able to push to record highs recently. As of just before 1 p.m. EDT Thursday, the Nasdaq Composite was up about 0.5%, and the Nasdaq 100 rose by a similar amount.
The news hasn't been good for every sector, however. Retailers are more vulnerable than most companies to the impacts of possible future shutdowns, and that was one of the factors that pushed shares of Ross Stores (NASDAQ: ROST) and Ulta Beauty (NASDAQ: ULTA) down about 4% at midday on Thursday. Even though these two members of the Nasdaq 100 have taken steps to protect themselves from the full force of the pandemic, investors are still worried about what they're seeing elsewhere in the retail industry.
Image source: Ulta Beauty.
Source Fool.com
