"Most retailers are focusing on two things," John Petrides, portfolio manager in Tocqueville Asset Management's wealth division, told CNBC'son Thursday.
"Whatever trend we were moving into — more e-commerce sales in the retail space — has been multiplied by x factor because ofand stay-at-home," Petrides said. "It's a really tough world for retailers out there, and they have to find ways to reinvent themselves and to put as much excess capital as they can into building out their e-commerce channels."
In the same "Trading Nation" interview, Matt Maley, chief market strategist at Miller Tabak, said concerns around the strength of the consumer and the government's"When we have this new unemployment benefit come up, it is going to pass, but if it's not the full $600 — even if it's $500 — that's a fairly significant decline on their weekly pay," Maley said, referring to the weekly supplement that expires Friday without a bipartisan agreement in Congress.
"The other thing is the coronavirus," he said. "If we get a second wave here in the fall or a third wave in the fall and winter in the U.S. and Europe, that's going to cause another big problem for the retailers.""Target, if you look at the chart, looks pretty good," Maley said.
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