Retail stocks: Amazon, Target, Bed Bath & Beyond move lower

Yahoo Finance's Brad Smith breaks down how retail stocks are trading on Friday.

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BRAD SMITH: Everyone, switching gears, let's take a look at the markets right now, as we are just about 38 minutes into today's trading activity. Taking a look at the NASDAQ, we've seen that move into positive territory. It's up by about half a percent right now. Changing this over to an intraday look, and perhaps we'll get fancy with some candlestick charts. Also, that's up by 51 points there. The Dow Jones Industrial Average, you're seeing that up by about 1% right now early in trade. And then additionally, the S&P 500, that's up a little bit more than half a percent.

I do want to dive into some of the retail names, though, here on the day as well, especially considering what Amazon had kind of warned within their earnings call after they reported earnings, saying that consumers are cutting their budgets and trying to save a little bit of money. And we'll make this equal weighted, just for the sake of giving you a fuller view of what's taking place in some of the retail landscape, perhaps investors taking warning to that comment from Amazon on that call. Amazon, of course, on the day, down by about 10%.

But look at some of the other names that are also moving in concert with it in the retail sector right now. You've got Target down by about 1.9%. You've also got Wayfair and, yeah, Sozzi's favorite, Bed, Bath & Beyond, down by about 8.6% here. However, holding on to some gains here to end out the week, you've got Walmart still in positive territory. That's up by about 2/10 of a percent there. Perhaps the brick and mortar play, investors leaning into that. Nike is also up by about 4/10 of a percent right now, too. So we'll keep a close eye on this retail sector as we move on.

BRIAN SOZZI: To be clear, Brad, Bed, Bath is not my-- it's Costco.

BRAD SMITH: Ah, yes.

BRIAN SOZZI: Costco, that $1.50 hot dog. What they have done this past year, keeping prices at $1.50 in this inflationary environment, I mean, that's impressive.

BRAD SMITH: I don't want to confuse our viewers with my sarcasm, so I will-- yes.

BRIAN SOZZI: I appreciate you.