From Nasdaq: 2024-11-20 13:11:41

The S&P 500, Dow Jones, and Nasdaq are down today, with Target leading retailers lower after cutting its full-year outlook. Health insurance stocks are up after positive news about the nomination of Mehmet Oz. Fed comments were neutral to slightly dovish, and mortgage applications rose. Markets await Nvidia’s earnings report for insights on AI hardware spending.

Geopolitical tensions eased in Europe, with potential talks between Putin and Trump on a cease-fire in Ukraine. Earnings reports show companies exceeding estimates, with an average 8.5% increase in quarterly earnings. Expectations are high for Nvidia’s record revenue and future forecasts. The markets are pricing in a 56% chance of a rate cut at the upcoming FOMC meeting.

Overseas markets show mixed results, with European and Asian stocks fluctuating. Interest rates are slightly higher, with T-notes affected by geopolitical developments and supply pressures. European bond yields are up, and Eurozone negotiated pay rose significantly. UK CPI data exceeded expectations, and swaps predict a rate cut by the ECB.

US stock movers include Target, Qualcomm, and Fabrinet down, while Keysight Technologies is up. Health insurance stocks like Humana and UnitedHealth Group are climbing. Williams-Sonoma, Wix.com, and Flex Ltd are among the gainers. Analyst actions impact stocks like Powell Industries, Palantir Technologies, and JPMorgan Chase. AppLovin sees positive coverage from Piper Sandler.

Earnings reports for NVIDIA Corp, Palo Alto Networks, Snowflake Inc, Target Corp, TJX Cos, and Williams-Sonoma are expected on 11/20/2024. The author has no positions in the mentioned securities. Information provided is for informational purposes only.



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