Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Stock futures gain after better-than-expected earnings from big retailers

by
November 16, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

NBA and players reach a deal for a new 7-year labor agreement

D.E. Shaw spots an opportunity to boost margins at FleetCor – and do so amicably

U.S. stock index futures gained after better-than-expected results from Walmart and Home Depot.

Futures contracts tied to the Dow Jones Industrial Average, which contains the two big retailers, added 76 points, or 0.2%. S&P 500 futures gained 0.1%. Nasdaq 100 futures were slightly in the green.

Walmart kicked off a busy week of retail earnings by saying third-quarter profit and revenue was well above estimates with U.S. same-store sales jumping 9.2%, excluding fuel. The company also raised its forecast for 2021, saying adjusted earnings per share will be around $6.40 versus its prior expectations of between $6.20 and $6.35. The shares were higher by nearly 2% in premarket trading.

Home Depot‘s third-quarter earnings beat estimates on a 9.8% sales burst. Shares gained 1.5% in premarket trading.

A slew of economic data will be released on Tuesday, including retail sales figures for October. Economists surveyed by Dow Jones are expecting sales to have jumped by 1.5% last month, compared with 0.7% in September. Industrial production numbers will also be released, as well as the NAHB housing market index survey.

During regular trading Monday, the Dow dipped about 13 points, or 0.04%, for its fourth negative session in the last five. At the high of the day the 30-stock index gained about 136 points. The S&P 500 finished the day unchanged at 4,682.87. The benchmark index moved between gains and losses during the session, at one point gaining 0.3%, while also trading 0.21% lower. The Nasdaq Composite dipped 0.04%. The Russell 2000 was the relative underperformer, declining 0.45%.

Stocks’ move came as interest rates rose, with the yield on the 10-year Treasury note topping 1.62% while the 30-bear Treasury bond rose above 2%.

Inflation fears are weighing on the market after last month’s consumer price index posted its largest annual increase in more than three decades. Paul Christopher, head of global market strategy at Wells Fargo Investment Institute, said he believes inflation will moderate in 2022, but that “the path to lower inflation [will] begin with higher inflation in the front half of the year.”

“The stickier drivers of inflation are likely to persist, but our base case is that they will not outweigh the improvement we expect in the transitory elements,” he wrote in a note to clients.

On Monday afternoon President Joe Biden signed the $1 trillion bipartisan infrastructure bill into law. The package includes funding for transportation, broadband and utilities.

The major averages are coming off their first negative week in six, but stocks are still trading around all-time high levels. As Wall Street strategists look to 2022 some, including Morgan Stanley’s Michael Wilson, believe the picture looks muted.

“With financial conditions tightening and earnings growth slowing, the 12-month risk/reward for the broad indices looks unattractive at current prices,” he said Monday in a note to clients. “However, strong nominal GDP growth should continue to provide plenty of good investment opportunities at the stock level for active managers,” he added. His 12-month base target for the S&P 500 is 4,400, which is 6% below where the index closed on Monday.

ShareTweetPin

Related Posts

NBA and players reach a deal for a new 7-year labor agreement

by
April 1, 2023
0

NBA Commissioner Adam Silver speaks to the media during a press conference as part of the 2022 All-Star Weekend at...

D.E. Shaw spots an opportunity to boost margins at FleetCor – and do so amicably

by
April 1, 2023
0

In this article FLT Follow your favorite stocksCREATE FREE ACCOUNT Djelics | E+ | Getty Images Company: FleetCor Technologies (FLT)...

At least 21 are dead after tornadoes rake the U.S. Midwest and South

by
April 1, 2023
0

A car is upturned in a Kroger parking lot after a severe storm swept through Little Rock, Ark., Friday, March...

ETF outlook: Why Wall Street strategists aren’t chasing a growth stock trade just yet

by
April 1, 2023
0

The rally in growth and tech stocks in the first quarter caught much of Wall Street off-guard, but many ETF...

On the cusp of record inflows? Playing the hot international trade with ETFs

by
April 1, 2023
0

In this article BAC Follow your favorite stocksCREATE FREE ACCOUNT There's a corner of the market gaining traction among ETF...

Next Post

NAHB: Builder Confidence Increased to 83 in November

Industrial Production Increased 1.6 Percent in October; Back to Pre-pandemic Levels

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net