All three major benchmarks are higher ahead of the open
Stock futures are on the rise this morning, with Dow Jones Industrial Average (DJI) futures on track for a triple-digit rebound as traders unpack the latest batch of corporate earnings reports. Wall Street is also looking ahead to quarterly results from chip darling Nvidia (NVDA), due out after the close. There will be remarks from several Fed officials to unpack as well, while plenty of attention remains focused on geopolitical tensions between Russia and Ukraine.
Continue reading for more on today's market, including:
- Best stocks to own over Thanksgiving week, per Schaeffer's Senior Quantitative Analyst Rocky White.
- Checking in with 3 defense stocks amid tension overseas.
- Plus, 2 retailers moving after earnings; and Comcast planning spin-offs.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw over 1.6 million call contracts and 992,084 put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.62 and the 21-day moving average remained at 0.62.
- TJX Companies Inc (NYSE:TJX) stock is down 1.9% before the bell, despite the retailer's better-than-expected third-quarter results and full-year forecast hike, as its fiscal fourth-quarter guidance appeared to underwhelm investors. Fresh off a recent Nov. 13 record high, TJX is up 27.4% year to date.
- Shares of Target Corp (NYSE:TGT) are plummeting premarket, down 16.7% at last glance. The company announced its largest earnings miss in two years for the third quarter and slashed its full-year forecast. Should these losses hold, TGT will drop into negative territory for 2024.
- Comcast Corp (NASDAQ:CMCSA) stock is off 2.2% in electronic trading, after news that the company is planning to spin off cable TV channels such as MSNBC. Eyeing their eight loss in the last 10 sessions, the shares are down 3.4% since the start of the year.
- What's on tap for the rest of this week.
China Keeps Rates Unchanged
Asian markets were mostly higher today. Japan’s Nikkei lost 0.2%, after export growth topped estimates in October. Hong Kong’s Hang Seng and the Shanghai Composite added 0.2% and 0.7%, respectively, after China’s central bank kept its major benchmark lending rate unchanged. South Korea’s Kospi gained 0.4%.
Over in Europe, investors are unpacking inflation data in the U.K that rose past estimates. The FTSE 100 is 0.2% higher at last check, with software giant Sage Group a notable gainer. Rounding out the region, the German DAX and French CAC 40 are both 0.4% higher.