The National Association of Realtors is expected to release existing home sales for November. Wednesday morning brings another piece of data on the housing industry. A larger-than-expected draw in U.S. crude stocks offset worries about rising COVID-19 cases in China. DotBig U.S. equity futures were trading higher and heading for a second day of gains. Total revenues are expected to be between $23.7 billion and $24.0 billion, down from $23.6 billion and $24.0 billion. Third quarter revenue fell to $6.08 billion from $6,23 bill.
We discuss five key takeaways from this week’s data and our outlook on each below. We sell different https://dotbig.com/ types of products and services to both investment professionals and individual investors.
Stocks surge to kick off October and a new quarter as bond yields tumble and Dow closes up 760 points
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Investigators Accuse Hertz of Renting Recalled Cars
Elsewhere, government bond yields were little changed after rising yesterday following the Bank of Japan’s surprise decision to raise the upper limit of its 10-year bond yield. On the data front today, MBA mortgage applications for the week ended December 16 climbed 0.9%, down from last week’s 3.2% print. The Conference Board Consumer Confidence DotBig Index is forecasted to show a modest increase, up to 101 in December versus November’s 100.2 figure. Elsewhere, existing home sales are anticipated to fall 5.2% month-over-month in November, strengthening slightly from October’s 5.9% monthly decline. In earnings news, reports from FedEx Corp and Nike Inc came in better than forecasted.
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- This screen highlights stocks to watch that are showing increasing fund ownership in recent quarters.
- Hours later, a new report may predict slowing sales in the overall tech sector.
- Short selling occurs when an investor borrows a security, sells it on the open market, and expects to buy it back later for less money.
- This action has sparked global volatility in the currency and bond markets, and comes after a host of monetary policy tightening measures across the globe.
In commodities, West Texas Intermediate crude futures spiked 2.31% to $77.85 a barrel, as gold popped 0.90% to $1,826.30 an ounce. Over the last five days, the Dow remains down near 2.77%, the S&P is off nearly 4.02% and the tech-heavy TSLA stock Nasdaq is roughly 5.51% lower. Carnival Corp says booking volumes during the fourth quarter of 2022 for 2023 sailings are nearing 2019 comparable booking levels, with November booking volumes exceeding 2019 levels.
Stocks On The Move
Crude stockpiles are expected to fall by nearly 2 million barrels following a massive, surprise build of more than 10 million barrels the previous week. “The best quarterly revenue growth in a decade is testament to the brand’s inherent strengths. U.S. stocks are extending gains on earnings reports from Nike and FedEx. "We’re seeing a broad rally. It’s been helped by upbeat corporate commentary and stock market news today an improvement in consumer confidence," said Angelo Kourkafas, investment strategist at Edward Jones in St. Louis referring to Nike and FedEx. In other housing news, the MBA Mortgage Application Index rose 0.9% last week, following the prior week’s 3.2% gain. The index increased for a second week in a row as a 6.0% rise in the Refinance Index more than offset a 0.1% dip for the Purchase Index.
Tesla stock dive sends market cap of the green energy darling below oil giant Exxon Mobil’s
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CELH stock is riding triple-digit earnings and revenue growth. But this company has wiped out more investor wealth in 2022. A stock trader is an individual or other entity that engages in the buying and selling of stocks. This is one reason why so-called conservative stock pickers prefer a buy-and-hold strategy.
US Consumer Confidence bounces back in December
Elsewhere, a request was submitted early Tuesday morning to reopen the Keystone pipeline after being closed for roughly two weeks. Dollar Index closed down 0.7% against a basket of major currencies, while the Japanese yen surged 3.8% against the dollar hitting a four-month peak. Negative news will normally cause people to sell stocks. A bad earnings report, a lapse in corporate governance, big-picture economic and political uncertainty, and unfortunate occurrences all translate to selling pressure and a decrease in the prices of many if not most stocks. LOS ANGELES — The housing market slump deepened in November as sales of previously occupied U.S. homes slowed for the tenth consecutive month — the longest such stretch on records going back to 1999. Existing home sales fell 7.7% last month from October to a seasonally adjusted annual rate of 4.09 million, the National Association of Realtors said Wednesday.
Nike posted a profit of 85 cents per share in the second quarter ended November, topping an average estimate of 64 cents, according to Refinitiv data. Quotes displayed in real-time or delayed by at least 15 minutes.
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Our market analysts keep you updated on the latest market trends including stock market data, news, market activity, and economic reports in the daily stock market commentary. U.S. multistate https://dotbig.com/markets/stocks/TSLA/ cannabis producer Trulieve Cannabis Corp. on Wednesday said it closed on $71.5 million in financing – in the form of a five-year loan secured by a Florida cultivation and manufacturing site.