Diamonds and Dogs
Black Friday lifting the retailers. After a dismal year, Macy's (M) is making a rebound up 4% today and up 19% in the last several weeks thanks to positive comments from their CEO. Macy's CEO, Jeff Gennette said the holiday selling season is off to a strong start with coat, boot and sweater sales trending well. Amazon is having a record day with their stock up 2%, but consumers seem to be lifting all retail boats today.
The telecoms continue to struggle. Frontier (FTR) dropped nearly 20% on the open, before rebounding. While AT&T and Verizon are rebounding, the smaller telecoms keep going lower. The charts say Frontier is down over 80% for the year as cash flow declines and the mounting debt becomes more of a burden.