From Nasdaq: 2024-11-20 18:35:32

The S&P 500, Dow Jones, and Nasdaq closed mixed on Wednesday as Target’s stock tumbled over -21% due to flat sales. Health insurance stocks rallied after a positive sector outlook. Fed Governor Cook’s remarks were neutral, while Governor Bowman’s were more hawkish. US MBA mortgage applications rose, and Nvidia’s earnings report is eagerly anticipated.

European geopolitical tensions eased, with a potential ceasefire deal in Ukraine. Markets are pricing in a 52% chance of a -25 bp rate cut at the December FOMC meeting. Overseas markets settled mixed, with bonds yields rising in Europe. Eurozone saw a record increase in negotiated pay, while UK CPI figures came in stronger than expected.

Stock movers included Target, Qualcomm, and Ford Motor, with notable declines. Keysight Technologies led gainers, while health insurance stocks saw positive movement. Earnings reports are expected from BJ’s Wholesale, Deere & Co, and others on 11/21/2024. The markets await further developments in the coming days.



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