We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Pre-market futures today are kicking off a new week of trading lower, following a strong week that finished with a flourish on Friday: the Dow gained +391 points, +1.15%, the Nasdaq was +276 points, +2.05%, and the S&P 500 closed +1.56%. At this hour this morning, the Dow is giving back -65 points, the S&P -156 and the Nasdaq -60 points.
Indices are bouncing nicely in November from a tough October, which brought lows on the Dow and small-cap Russell 2000 not seen since the first half of the year. Just month to date, the Dow is +3.7%, the S&P is +5.3% and the Nasdaq — still leading among all major indices, as it has all year — is up +7.4% so far in November. The tech-heavy index, led once again by the Magnificent Seven tech majors with significant A.I. components, is back up over +40% year to date.
This week’s main course of economic data comes tomorrow morning, with the latest Consumer Price Index (CPI) report for October. Month over month is expected to come down notably to +0.1% from +0.4% the previous month. Year over year CPI — also known as the “Inflation Rate” — is anticipated to reach +3.3% after back-to-back months of +3.7%. Lows for this cycle came in at +3.0% in June. Core CPI year-over-year (ex-food and energy costs) are expected to remain stickier, at +4.1% for the second-straight month.
The CPI’s sister report, the Producer Price Index (PPI), hits the tape Wednesday, and Thursday brings us Weekly Jobless Claims, Industrial Production/Capacity Utilization and Import Prices. Friday, we’ll get a peek at Housing Starts and Building Permits. On the earnings front, the retailers are center stage, with Walmart (WMT - Free Report) , Target (TGT - Free Report) and Home Depot (HD - Free Report) releasing quarterly data, among others.
This morning, Zacks Rank #4 (Sell)-rated Tyson Foods (TSN - Free Report) put up mixed numbers for its fiscal Q4 report, beating estimates on its bottom line by 4 cents to 37 cents per share — the first quarter in the past five that did not disappoint on earnings — while revenues of $13.35 billion missed the $13.71 billion in the Zacks consensus, -2.8% year over year. Full-year guidance was kept in-line, and shares are down another -2% in early trading (Tyson Foods trades -26% year to date).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Wall Street Waits for Key Inflation Data
Pre-market futures today are kicking off a new week of trading lower, following a strong week that finished with a flourish on Friday: the Dow gained +391 points, +1.15%, the Nasdaq was +276 points, +2.05%, and the S&P 500 closed +1.56%. At this hour this morning, the Dow is giving back -65 points, the S&P -156 and the Nasdaq -60 points.
Indices are bouncing nicely in November from a tough October, which brought lows on the Dow and small-cap Russell 2000 not seen since the first half of the year. Just month to date, the Dow is +3.7%, the S&P is +5.3% and the Nasdaq — still leading among all major indices, as it has all year — is up +7.4% so far in November. The tech-heavy index, led once again by the Magnificent Seven tech majors with significant A.I. components, is back up over +40% year to date.
This week’s main course of economic data comes tomorrow morning, with the latest Consumer Price Index (CPI) report for October. Month over month is expected to come down notably to +0.1% from +0.4% the previous month. Year over year CPI — also known as the “Inflation Rate” — is anticipated to reach +3.3% after back-to-back months of +3.7%. Lows for this cycle came in at +3.0% in June. Core CPI year-over-year (ex-food and energy costs) are expected to remain stickier, at +4.1% for the second-straight month.
The CPI’s sister report, the Producer Price Index (PPI), hits the tape Wednesday, and Thursday brings us Weekly Jobless Claims, Industrial Production/Capacity Utilization and Import Prices. Friday, we’ll get a peek at Housing Starts and Building Permits. On the earnings front, the retailers are center stage, with Walmart (WMT - Free Report) , Target (TGT - Free Report) and Home Depot (HD - Free Report) releasing quarterly data, among others.
This morning, Zacks Rank #4 (Sell)-rated Tyson Foods (TSN - Free Report) put up mixed numbers for its fiscal Q4 report, beating estimates on its bottom line by 4 cents to 37 cents per share — the first quarter in the past five that did not disappoint on earnings — while revenues of $13.35 billion missed the $13.71 billion in the Zacks consensus, -2.8% year over year. Full-year guidance was kept in-line, and shares are down another -2% in early trading (Tyson Foods trades -26% year to date).