Brendan McDermid | Reuters Here are the most important news investors need to start their trading day:
1. We can exchange it for you wholesale
The producer price index, which measures inflation at wholesale prices, came in softer than expected on Tuesday, helping push stocks slightly higher. Tech heavyweight Nasdaq has outperformed the S&P 500 and Dow so far this week. Investors are also weighing the latest earnings data from major retailers, including Walmart and Home Depot, which reported Tuesday, and Target and Lowe’s, which reported Wednesday. It’s a mixed bag heading into the holiday season. While shares of Walmart and Home Depot performed well after their reports, Target is in dire straits (see below) and Lowe’s lackluster guidance offered as the year draws to a close. The Census Bureau is also due to report October retail sales data at 8:30 a.m. ET. Read live market updates here.
2. Target interruption warning
The exterior of a Target store in Los Angeles, California prior to opening on August 17, 2022. Robyn Beck | AFP | Getty Images The good news? Target has made great strides in eliminating piles of unwanted merchandise. The bad news? The cost of doing so, through markdowns and other means, weighed heavily on its earnings in the most recent quarter, resulting in a roughly 50% year-over-year decline. The bad news? Even with all that clearance, Target said it saw a slowdown in sales at the end of October that continued into November. That forced the company to scale back its expectations for the holiday shopping quarter – the most important time of year for retailers. After rival Walmart reported positive earnings on Tuesday, the pressure on Target and CEO Brian Cornell is even more intense now. CNBC
4. Missile kills two in Poland
Smoke rises in the distance amid reports of two explosions, seen from Nowosiolki, Poland, near the border with Ukraine, on Nov. 15, 2022, in this image taken from social media. My Nowosiolki Association | via Reuters A missile killed two people on Tuesday in Poland, about 15 miles from the border with Ukraine, immediately sparking concerns that Russia’s war against its former Soviet neighbor could spread to Europe. However, NATO Secretary General Jens Stoltenberg said it was most likely caused by a Ukrainian defense missile. Poland’s president, Andrzej Duda, also immediately tried to defuse the situation. “What happened was an isolated incident,” he said. “There is no indication that more will be done.” Read live war updates here.
5. Trump is running again, despite everything
Former US President Donald Trump speaks outside a polling station during the midterm elections in Palm Beach, Florida, November 8, 2022. Ricardo Arduengo | Reuters Donald Trump, whose repeated false claims that the 2020 election was stolen inspired hundreds of his supporters to storm Congress in a violent riot on January 6, 2021, is running for president again. The twice-impeached former president’s announcement came after several of his favored candidates and other election naysayers lost in last week’s midterm elections. Republican mega-donors and other top GOP figures distance themselves from him, calling him a burden on the party. He is under federal criminal investigation into whether he illegally obtained and retained highly sensitive national security documents from the government. His company, the Trump Organization, is on trial in New York. And another of his ventures, Truth Social’s parent company Trump Media and Technology Group, is also being investigated by federal prosecutors and regulators. – CNBC’s Samantha Subin, Melissa Repko, Annie Palmer, Ted Kemp, Holly Ellyatt, Christina Wilkie and Brian Schwartz contributed to this report. — Join the CNBC Investing Club now to follow Jim Cramer’s every stock move. Follow the broader market action like a pro on CNBC Pro.
title: “5 Things You Need To Know Before The Stock Market Opens On Wednesday 16 November " ShowToc: true date: “2022-12-24” author: “Cynthia Battey”
Brendan McDermid | Reuters Here are the most important news investors need to start their trading day:
1. We can exchange it for you wholesale
The producer price index, which measures inflation at wholesale prices, came in softer than expected on Tuesday, helping push stocks slightly higher. Tech heavyweight Nasdaq has outperformed the S&P 500 and Dow so far this week. Investors are also weighing the latest earnings data from major retailers, including Walmart and Home Depot, which reported Tuesday, and Target and Lowe’s, which reported Wednesday. It’s a mixed bag heading into the holiday season. While shares of Walmart and Home Depot performed well after their reports, Target is in dire straits (see below) and Lowe’s lackluster guidance offered as the year draws to a close. The Census Bureau is also due to report October retail sales data at 8:30 a.m. ET. Read live market updates here.
2. Target interruption warning
The exterior of a Target store in Los Angeles, California prior to opening on August 17, 2022. Robyn Beck | AFP | Getty Images The good news? Target has made great strides in eliminating piles of unwanted merchandise. The bad news? The cost of doing so, through markdowns and other means, weighed heavily on its earnings in the most recent quarter, resulting in a roughly 50% year-over-year decline. The bad news? Even with all that clearance, Target said it saw a slowdown in sales at the end of October that continued into November. That forced the company to scale back its expectations for the holiday shopping quarter – the most important time of year for retailers. After rival Walmart reported positive earnings on Tuesday, the pressure on Target and CEO Brian Cornell is even more intense now. CNBC
4. Missile kills two in Poland
Smoke rises in the distance amid reports of two explosions, seen from Nowosiolki, Poland, near the border with Ukraine, on Nov. 15, 2022, in this image taken from social media. My Nowosiolki Association | via Reuters A missile killed two people on Tuesday in Poland, about 15 miles from the border with Ukraine, immediately sparking concerns that Russia’s war against its former Soviet neighbor could spread to Europe. However, NATO Secretary General Jens Stoltenberg said it was most likely caused by a Ukrainian defense missile. Poland’s president, Andrzej Duda, also immediately tried to defuse the situation. “What happened was an isolated incident,” he said. “There is no indication that more will be done.” Read live war updates here.
5. Trump is running again, despite everything
Former US President Donald Trump speaks outside a polling station during the midterm elections in Palm Beach, Florida, November 8, 2022. Ricardo Arduengo | Reuters Donald Trump, whose repeated false claims that the 2020 election was stolen inspired hundreds of his supporters to storm Congress in a violent riot on January 6, 2021, is running for president again. The twice-impeached former president’s announcement came after several of his favored candidates and other election naysayers lost in last week’s midterm elections. Republican mega-donors and other top GOP figures distance themselves from him, calling him a burden on the party. He is under federal criminal investigation into whether he illegally obtained and retained highly sensitive national security documents from the government. His company, the Trump Organization, is on trial in New York. And another of his ventures, Truth Social’s parent company Trump Media and Technology Group, is also being investigated by federal prosecutors and regulators. – CNBC’s Samantha Subin, Melissa Repko, Annie Palmer, Ted Kemp, Holly Ellyatt, Christina Wilkie and Brian Schwartz contributed to this report. — Join the CNBC Investing Club now to follow Jim Cramer’s every stock move. Follow the broader market action like a pro on CNBC Pro.
