Microsoft Stuns, Google Sinks, Oracle Offers Hope: 8 Key Items Shaping the Stock Market Thursday
Marvell’s potential Lumentum bid, Samsung’s comments on chip capacity, and other headlines are moving the market this morning.
Thursday’s Schedule: GDP and Amazon Headline Another Busy Day
US economic data includes the advance estimate of Q3 GDP, which will incorporate September personal income and spending with PCE prices that will also be separately reported. We’ll also get weekly unemployment claims.
The Fed’s blackout period extends until midnight, with Fed speakers resuming Friday.
The non-Bill (>1yr in maturity) US Treasury auction is $44bn of 7-year notes.
61 S&P 500 components report, 14 of them with market caps over $100bn:61 S&P 500 components report, 14 of them with market caps over $100bn:
Before the open: Eli Lilly ($LLY), Mastercard ($MA), Merck ($MRK), Caterpillar ($CAT), Linde ($LIN), Bristol Myers Squibb ($BMY), Altria ($MO), Trane Technologies ($TT), Intercontinental Exchange ($ICE), Quanta Services ($PWR), Howmet Aerospace ($HWM), CRH ($CRH), Xcel Energy ($XEL), L3Harris ($LHX), Carrier ($CARR), Ameriprise ($AMP), D.R. Horton ($DHI), Ares Management ($ARES), WEC Energy ($WEC), Vulcan Materials ($VMC), Hershey ($HSY), Cognizant ($CTSH), WTW ($WTW), West Pharmaceutical ($WST), Incyte ($INCY), T. Rowe Price ($TROW), Bunge ($BG), Kimco Realty ($KIM), Avery Dennison ($AVY), Textron ($TXT), Baxter ($BAX), Huntington Ingalls ($HII), A.O. Smith ($AOS) and Norwegian Cruise Line ($NCLH)
After the close: Amazon ($AMZN), Intel ($INTC), Gilead ($GILD), SanDisk ($SNDK), Stryker ($SYK), Starbucks ($SBUX), Mondelez ($MDLZ), Republic Services ($RSG), Arthur J. Gallagher ($AJG), Digital Realty ($DLR), Monolithic Power ($MPWR), Coinbase ($COIN), Illumina ($ILMN), Twilio ($TWLO), ResMed ($RMD), Ingersoll Rand ($IR), Reddit ($RDDT), Veralto ($VLTO), Edison International ($EIX), First Solar ($FSLR), Alliant Energy ($LNT), Weyerhaeuser ($WY), GoDaddy ($GDDY), DaVita ($DVA) and Erie Indemnity ($ERIE)
Time not announced: Monster Beverage ($MNST) and AES ($AES)
Outside the US, Shell ($SHEL), TotalEnergies ($TTE) and Volkswagen ($VWAGY) report.
Ex-US highlights include a policy decision from the ECB, UK September net consumer credit and M4, Japan October consumer confidence index, Italy September unemployment rate, October consumer confidence index, economic sentiment and manufacturing confidence, Eurozone October economic confidence and Sweden Q3 GDP indicator.
From Christophe Barraud’s international Week Ahead rundown:
The Fed Holds, Oracle Jumps, Chips Rise for Fourth Session but Alphabet Sinks After Hours
The Fed held rates steady with two hawkish dissents, Oracle’s aggressive long-term targets lifted AI names, but Alphabet fell about 9% after missing expectations.
Iran Concerns Weigh on Stocks as Tech Steadies to End a Volatile Week
Brent topped $116 and stocks pulled back on fears of renewed U.S.-Iran hostilities after the midterm elections. For the week, small caps led with the Russell 2000 up 2% while the S&P 500 and Nasdaq slipped.
Buy-and-Hold Investing Can Make You Rich, but Not the Way You Think
The best stock I ever bought was pure luck.
Microsoft Pushes Higher: 8 Key Items Shaping the Stock Market Thursday
OPEC+ meeting expectations, politician Warsh and other headlines are moving stocks this morning.
Despite Semis Shock, the Market Remains Firmly Complacent
Do we bounce early and then go down again or do we just slide? That will tell traders a lot.
Seven Weeks of Trading and We’ve Gone Nowhere
There’s been a lot of movement among individual names since May 6th, but the major indexes have nothing to show for it.
U.S. Should Follow ECB Rate Decision After Growth Warning
Outdated models are underestimating growth, and strong growth will continue to push inflation higher.