Retail is in full focus this week.
In earnings reports Tuesday morning, Walmart and Home Depot beat estimates. Major players such as Target, Kohl’s, Macy’s and Foot Locker will release results in coming days. July retail sales are also out Tuesday. All that data should reveal whether pent-up demand from the consumer was enough to overshadow the spread of the delta variant.
But while the calendar is loaded with earnings, Oppenheimer head of technical analysis Ari Wald looked instead to a name that isn’t reporting this week as his favorite play in the space.
“One standout for us is the automotive retailing sub industry,” Wald told CNBC’s “Trading Nation” on Monday. “We recently added AutoZone…