Stocks are mixed, Jabil Inc. reports strong Q1 results, General Mills forecasts lower sales

From Nasdaq: 2024-12-18 11:58:58

Stock indexes show mixed performance with the S&P 500 and Nasdaq down, while the Dow Jones is up. Jabil Inc. reports strong Q1 results, boosting its stock, while General Mills forecasts lower sales growth, leading to a decline. US housing starts fall unexpectedly, but building permits rise. FOMC expected to cut rates by 25 bp.

US current account deficit widens to a record, while mortgage applications decline and rates rise. Eurozone CPI is revised lower, and construction output increases. UK CPI meets expectations. ECB expected to cut rates in January. Stock markets overseas are mixed, with gains in Euro Stoxx 50 and Shanghai Composite, and a drop in Japan’s Nikkei.

Chip stocks see gains, with Nvidia leading the way. Health insurance stocks rebound, including Cigna and CVS. Expedia Group, Ollie’s Bargain Outlet, Citizens Financial Group, and Dow Inc. see stock upgrades. Heico reports lower sales, leading to a stock downgrade. General Mills, Tesla, Rivian Automotive, Lamb Weston Holdings, Electronic Arts, and Fluor Inc. experience stock declines.

Earnings reports on 12/18 include Birkenstock Holding, General Mills, Jabil Inc, Lennar Corp, Micron Technology, and Toro Co. Rich Asplund does not hold positions in any mentioned securities. News from Barchart.



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