Market Overview
Stock futures were lower Wednesday as investors digested new earnings.
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Indexes & Sectors
Major Indexes: S&P 500 lower, Nasdaq lower, Dow lower, Russell 2000 lower
Leading Sectors: Energy
Lagging Sectors: Technology, Consumer Discretionary, Health Care, Materials
Economic Calendar
Time (ET) | Report | Actual | Forecast | Previous |
|---|---|---|---|---|
8:30am | U.S. retail sales (delayed report) (Nov.) | 0.4% | 0.0% | |
8:30am | Retail sales minus autos (delayed report) (Nov.) | 0.3% | 0.4% | |
8:30am | U.S. Producer price index (delayed report) (Nov.) | 0.3% | 0.3% | |
8:30am | Core PPI (delayed report) (Nov.) | 0.1% | ||
8:30am | PPI year over year (Nov.) | 2.7% | ||
8:30am | Core PPI year over year (Nov.) | 2.9% | ||
10:00am | U.S. Business inventories (delayed report) (Oct.) | 0.2% | 0.2% | |
10:00am | Existing home sales (Dec.) | 4.22 million | 4.13 million | |
12:00pm | Atlanta Fed President Raphael Bostic speaks | |||
12:00pm | Minneapolis Fed President Neel Kashkari speaks | |||
2:00pm | Federal Reserve’s Beige Book | |||
2:10pm | New York Fed President John Williams opening remarks |
Stocks In The Spotlight
Trip.com (TCOM): The stock fell sharply after reports said Chinese regulators are investigating the company’s travel platform, raising concerns about potential regulatory pressure.
Netflix (NFLX): Shares moved higher after reports that Netflix is considering a large all-cash bid for Warner Bros. Discovery’s studios and HBO Max, which could significantly expand its content library.
Palo Alto Networks (PANW), Check Point Software (CHKP), Fortinet (FTNT): Cybersecurity stocks declined after reports that Chinese authorities told domestic companies to stop using security software linked to U.S. and Israeli firms, hurting demand expectations.
Wells Fargo (WFC): Shares moved lower after the bank reported quarterly revenue that came in below expectations, including weaker-than-expected interest income.
Citigroup (C): Shares ticked higher after the bank reported earnings and revenue above expectations, helped by lower-than-expected loan loss provisions.
Bank of America (BAC): The stock moved lower after the bank posted better-than-expected quarterly results, helped by stronger interest income than analysts had forecast.
Infosys (INFY): Shares climbed after the company beat quarterly revenue expectations and raised its full-year growth outlook, citing steady tech spending and stronger demand from financial services clients.
United Community Banks (UCB): The stock edged lower despite solid quarterly and full-year earnings growth, driven by improved margins and higher revenue, as results largely matched expectations.
Momentum Stocks
(Stocks showing elevated volume and notable price movement)
Gainers: TTMI, MRNA, SNBR, DNTH, GPCR, BEAM, HYMC, MTSI, BABA, BLDR, MTH, RKT, PHM, TOL, BW, KRUS
Losers: MTG, FIG, RDN, ATEC, HQY, AIG, FVRR, ADSK
Today’s IPOs
Company | Ticker | Managers | Shares | Low | High | Volume |
|---|---|---|---|---|---|---|
OneIM Acquisition | OIMAU | Deutsche Bank Securities | 25 million | 10.0 | 10.0 | $250.0 million |
Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider consulting a financial professional before making investment decisions.