Stocks are climbing due to positive corporate news and global bond prices rally

From Nasdaq: 2024-11-22 12:49:38

Today, the S&P 500, Dow Jones Industrials, and Nasdaq 100 are up. Positive corporate news boosts stocks, with Super Micro Computer up over 11% and Ross Stores up over 2%. US economic news is mixed, with manufacturing and service PMIs up but consumer sentiment down. Global bond prices rally, supporting equities. Overseas markets are mixed, with China down 3.06% and Eurozone PMIs weaker than expected.

In the S&P 500, 90% of companies have beaten Q3 earnings estimates. Markets expect a 59% chance of a rate cut at the December FOMC meeting. Overseas, Euro Stoxx 50 is up, China’s Shanghai Composite falls, and Japan’s Nikkei is up. T-notes rise on European bond rally and potential Treasury Secretary pick. European government bond yields decline.

Eurozone PMIs and German GDP disappoint. ECB rate cut expectations are high. Super Micro Computer and Copart see gains. The Gap, Elastic NV, and Deckers Outdoor rise. Ross Stores and Nike report positive earnings. Viking Therapeutics and Palo Alto Networks see movement. Intuit and Nvidia face declines, while Alphabet faces challenges from the US Justice Department. Reddit and healthcare stocks like Tenet and HCA Healthcare see losses. Earnings reports for various companies are scheduled for 11/22/2024.



Read more at Nasdaq: Stocks Climb on Economic Optimism