Market Overview
Stock futures moved higher as investors reacted to inflation data and early earnings reports.
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Indexes & Sectors
Major Indexes: S&P 500 higher, Nasdaq higher, Dow higher, Russell 2000 higher
Leading Sectors: Energy, Industrial, Materials, Technology
Lagging Sectors: Consumer Discretionary
Economic Calendar
Time (ET) | Report | Actual | Forecast | Previous |
|---|---|---|---|---|
6:00am | NFIB optimism index (Dec.) | 99.5 | 99.0 | 99.0 |
8:30am | U.S. Consumer price index (Dec.) | 0.3% | 0.3% | 0.3% |
8:30am | CPI year over year | 2.7% | 2.7% | 2.7% |
8:30am | Core CPI (Dec.) | 0.2% | 0.3% | 0.2% |
8:30am | Core CPI year over year | 2.6% | 2.8% | 2.6% |
10:00am | U.S. new home sales (Oct.) | 710,000 | 800,000 | |
10:00am | St. Louis Fed President Alberto Musalem speaks | |||
2:00pm | U.S. budget deficit (Dec.) | -$150.0 billion | -$87.0 billion | |
4:00pm | Richmond Fed President Tom Barkin speaks |
Stocks In The Spotlight
L3Harris Technologies (LHX): Shares jumped after the company announced plans to spin off its missile solutions business through a future IPO in partnership with the U.S. Defense Department.
Delta Air Lines (DAL): Stock declined after mixed quarterly results, as revenue came in slightly below expectations despite earnings beating estimates.
Intel (INTC): Rose after an analyst upgrade, with expectations for improved demand driven by a memory upcycle and data center growth.
Advanced Micro Devices (AMD): Gained alongside Intel following an analyst upgrade citing strong upside tied to data center and memory demand trends.
JPMorgan Chase (JPM): Reported stronger-than-expected quarterly earnings and revenue, helped by solid trading performance, which supported the stock.
Travere Therapeutics (TVTX): Shares dropped after the FDA requested additional information on a kidney disease drug, overshadowing updates that showed strong sales momentum and long-term pipeline plans.
PAR Technology (PAR): Stock moved higher after Papa John’s announced it is using PAR’s technology across its restaurant locations.
Revvity (RVTY): Rose after the company posted preliminary quarterly revenue above expectations and guided toward the high end of its full-year earnings outlook.
Bank of New York Mellon (BK): Shares slipped despite the company beating earnings and revenue estimates for the quarter.
Hycroft Mining Holding Corporation (HYMC): Benefited from rising gold prices, which supported investor interest in the stock.
Ambitions Enterprise Management (AHMA): Saw strong buying interest driven by retail traders in a low-float stock following its recent IPO.
Momentum Stocks
(Stocks showing elevated volume and notable price movement)
Gainers: DAWN, BEAM, HYMC, GILT, MTSI, BABA, BLDR, MTH, RKT, PHM, TOL, BW, KRUS
Losers: ATEC, SIBN, URBN, HQY, AIG, FVRR, ADSK
Today’s IPOs
Company | Ticker | Managers | Shares | Low | High | Volume |
|---|---|---|---|---|---|---|
Green Circle Decarbonize Technology Limited | GCDT | RBW Capital Partners (A Division of Dawson James)/Spartan Capital Securities | 2.5 million | 4.00 | 4.00 | $10.0 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.