Today's Stock Market News & Events: 12/17/2020

Today's market-moving economic data and earnings schedule

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    It was a volatile day on Wall Street yesterday. Early on, dismal retail sales were released. Broad market tailwinds came from two sources on Wednesday. U.S. lawmakers were hopeful a $900 billion stimulus package, including a new round of direct payments to Americans, would be approved. Also, the Fed confirmed it will keep interest rates steady, and Fed Chair Jerome Powell noted the central bank would increase asset purchases if economic recovery slows. The Fed meeting concluded yesterday with several upbeat gross domestic product (GDP) projections.

    The Dow Jones Industrial Average (DJI -30,154.54) dropped 44.8 points on Wednesday. Meanwhile, the S&P 500 Index (SPX - 3,701.17) added 6.6 points and the Nasdaq Composite (IXIC - 12,658.19) added 63.1 points yesterday. The Cboe Volatility Index (VIX - 22.50) lost 0.4 point during yesterday's trading session.

    The stock market schedule is not slowing down today, featuring the Philadelphia Federal Reserve Manufacturing Index, as well as building permits and housing starts data. The usual initial and continuing jobless claims data will also be released today. 

    For your convenience, we have rounded up the companies slated to release earnings today, December 17:

    Accenture plc (NYSE:ACN -- $247.45) provides strategy and consulting, interactive, and technology and operations services. Accenture will report its first-quarter earnings of 2021 before the bell today.

    CalAmp Corp. (NASDAQ:CAMP -- $10.81) provides in telematics systems, and software and subscription services. CalAmp will report its third-quarter earnings before the bell today. 

    General Mills, Inc. (NYSE:GIS -- $58.92) manufactures and markets branded consumer foods. General Mills will report its second-quarter earnings of 2021 before the bell today.

    Jabil, Inc. (NYSE:JBL -- $41.06) provides manufacturing services and solutions. Jabil will report its first-quarter earnings of 2021 before the bell today.

    Sanderson Farms, Inc. (NASDAQ:SAFM -- $141.09) produces, processes, markets, and distributes fresh, frozen, and prepared chicken products. Sanderson Farms will report its third-quarter earnings before the bell today.

    Worthington Industries, Inc. (NYSE:WOR -- $52.53) is a metals manufacturing company. Worthington will report its second-quarter earnings of 2021 before the bell today.

    AAR Corp. (NYSE:AIR -- $34.29) provides products and services to commercial aviation, government, and defense markets. AAR Corp will report its second-quarter earnings of 2021 after the market closes today.

    BlackBerry Limited (NYSE:BB -- $8.24) provides intelligent security software and services to enterprises and governments. BlackBerry will report its third-quarter earnings after the market closes today. 

    FedEx Corporation (NYSE:BB -- $288.81) provides transportation, e-commerce, and business services. FedEx will report its second-quarter earnings of 2021 after the market closes today.

    Scholastic Corporation (NASDAQ:SCHL -- $26.55) publishes and distributes children's books. Scholastic Corp will report its second-quarter earnings of 2021 after the market closes today.

    Steelcase, Inc. (NYSE:SCS -- $13.66) manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. Steelcase will report its third-quarter earnings after the market closes today.

    Here is a quick recap of how Wednesday's earnings calls played out:

    The Toro Company (NYSE:TTC -- $92.56) designs, manufactures, and markets professional and residential equipment worldwide. Earnings per share were up 33.33% over the past year to $0.64, which beat the estimate of $0.52. Revenue of $840,957,000 rose by 14.51% year over year, which beat the estimate of $772,140,000.

    ABM Industries, Inc. (NYSE:ABM -- $41.10) provides integrated facility solutions. Earnings per share rose 4.55% year over year to $0.69, which missed the estimate of $0.70. Revenue of $1,484,600,000 decreased by 9.92% year over year, which beat the estimate of $1,430,000,000.

    Lennar Corporation (NYSE:LEN -- $73.87) operates as a homebuilder primarily under the Lennar brand. Earnings per share were up 32.39% year over year to $2.82, which beat the estimate of $2.37. Revenue of $6,826,000,000 decreased by 2.09% from the same period last year, which beat the estimate of $6,650,000,000.

    Looking ahead to tomorrow, the weeks finally slows down on Friday. Last month's leading economic indicators will be reported, but that is all that is on the schedule for tomorrow. All economic dates listed here are tentative and subject to change.

     

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