Refund checks hit consumers bank accounts today and here a few stocks that could trade higher over the next few weeks. Of course, there’s no guarantee that these stocks will trade higher but if consumers do decide to spend their rebates here’s where they may go:
Best Buy (BBY, $45.32, up $0.23)
Home Depot (HD, $29.78, unchanged)
Kohl’s (KSS, $50.09, down $0.56)
Kroger (KR, $26.40, unchanged)
Sears Holdings (SHLD, $100.46, up $0.71)
Wal-Mart (WMT, $57.72, up $0.07)
Wendy’s (WEN, $28.96, up $0.65)
Kroger and Sears are offering discounts and other incentives for people who turn rebates into gift cards. Home Depot is running advertising campaigns that suggest ways for you to spend your money and Kroger expects many people could “stock up” with food prices continuing to climb.
The rebates went out a week earlier then planned and there’s no doubt people are looking forward to the rebate to help with rising gas and food costs. Some may pay down credit cards but more than likely most people are planning to spend a good portion of their refund.