A.M. Update

S&P futures are down by -1.1%, far more than a 1-day overbought condition requires. Target (TGT  -25.3%) is setting the negative tone with a 25% decline in pre-market action after missing EPS estimates on above-consensus revenue, citing “unusually high costs” that impacted profitability. The disappointing earnings mirrors Walmart (WMT -1.7%) yesterday. Interestingly, TJX Cos. (TJX +4.1%) is trading…