Dow Futures

Dow Futures contract was essentially steady at 06:30 ET (11:30 GMT), while the S&P 500 Futures saw only a single point increase and the Nasdaq 100 Futures saw a 0.2% increase of 27 points.

1. U.S. inflation data ahead, Home Depot to report – what’s moving markets
2. Dow futures flat ahead of crucial inflation report; Home Depot quarterly sales dip
3. U.S. small business sentiment falls slightly
4. Home Depot posts smaller-than-expected comparable sales drop, but narrows forecast
5. Boston Properties to sell interest in two assets valued at about $1.7 billion
6. Amazon will offer retail advertisements on Snapchat, according to a spokeswoman.
7. Tesla will quadruple its component imports from India, according to India’s Trade Minister.
8. DHL Group is considering a significant freight jet deal from Airbus or Boeing.
9. The dollar fell ahead of key inflation data, while sterling gained on wage growth.
10. Joby demonstrates electric air taxis in New York, with a projected launch date of 2025.
11. Foxconn, an Apple supplier, reports a surprise increase in quarterly profit.
12. Bridgewater drops US-listed Chinese stocks amid tech conflict
13. Teck Resources sells Elk Valley Resources to Glencore for $9 billion in enterprise value.
14. Stellantis is offering buyouts to roughly half of its salaried employees in the United States.
15. Microsoft and Google will not challenge the EU’s gatekeeper designation.
16. Tencent Music Entertainment’s GAAP EPS of $0.10 remain unchanged, while revenue of $900 million exceeds expectations by $35.26 million.
17. Huya Non-GAAP EPADS of $0.06 outperform by $0.09, while sales of $225.8M outperforms by $14.82M.
18. Teck Resources will sell its coal division for $8.9 billion.
19. Qualcomm executive sells stock amid valuation concerns
20. Rivian plans to borrow over $15 billion for an EV facility in Georgia.
21. Amazon eliminates positions in its games division as part of a larger restructure.
22. Sun Life of Canada exceeds profit expectations, helped by its asset management division.
23. The CEO of Ameresco purchases approximately $900,000 in stock.
24. Shattock, a director of V.F. Corp., purchases $300,000 in stock.
25. Talos Energy purchases another $22 million in stock.
26. Taylor, the director of Hain Celestial, purchases $100,000 in stock.
27. Lesar, CEO of CenterPoint Energy, purchases $1 million in stock.
28. Beyond director Lemonis purchases an additional $100,000 in stock.

GLOBAL NEWS 

1. Japan’s markets ended the day higher, with the Nikkei 225 up 0.43%.
2. Australia’s stocks are higher at the close of trade, with the S&P/ASX 200 up 0.83%.
3. Asian stocks rise ahead of US CPI data, while China lags.
4. European stocks rise ahead of US inflation data.
5. GDP in the Eurozone contracted in the third quarter, although employment increased.
6. In November, German investor confidence improved more than predicted, according to the ZEW.
7. Despite economic uncertainty, the IEA improves its projection for oil demand growth.
8. UK wage growth cools slightly but stays close to record
9. Investcorp, a Middle Eastern asset management, is looking to invest up to $550 million in its first China yuan fund.
10. Rapidus, a Japanese chipmaker, intends to Sales office in the United States
11. Hyundai will raise US hourly pay by 25% by 2028 as a result of the UAW agreement.
12. The German cartel agency has opened an investigation into Coca-Cola’s pricing practices.
13. IHH Healthcare has filed a $132 million lawsuit against Daiichi Sankyo over the Fortis merger.
14. Asia’s currency falls, while the dollar rises ahead of inflation statistics.
15. Oil prices rise as US inflation and the EU recession come into focus.
16. Gold prices fall below $1,950 when CPI data is released.
17. China’s securities regulator has requested that Alibaba’s Cainiao submit further information for HK listing.
18. AustralianSuper increases its investment in Origin Energy to 16.50%.
19. Standard Chartered and the International Finance Corporation (IFC) have launched a $200 million trade finance program.
20. Westpac reports that consumer sentiment in Australia worsened in November following the RBA’s move.

Global Major News 

The International Energy Agency (IEA) raised its oil demand growth forecasts for this year and next despite an expected deceleration in economic growth in nearly all major economies. For 2023, the IEA raised its growth forecast to 2.4 million barrels per day (bpd) from 2.3 million bpd and moving closer to OPEC’s forecast of 2.46 million bpd.

German investor morale improved more than expected in November, as the ZEW economic sentiment index rose to 9.8 points from -1.1 points in October, beating forecasts for a positive reading of 5.0; the expectations index rose for a fourth straight month.

Charlie Bilello tweeted: “If the S&P 500 fails to hit a new all-time high in the next month and half this would be the first year since 2012 without at least 1 all-time high.

The euro zone economy contracted marginally quarter-on-quarter in Q3, falling -0.1% quarter-on-quarter in the July-September period for a 0.1% year-on-year rise.

October NFIB small business optimism index 90.7, vs. consensus 90.5 and below prior 90.8

Economic Calendar

6:00 AM                    NFIB Small Business Optimism for October

7:45 AM                    ICSC Weekly Retail Sales

8:30 AM                    Consumer Price Index (CPI) M/M for October

8:30 AM                    Consumer Price Index (CPI) Y/Y for October

8:30 AM                    CPI Core – Ex: Food & Energy M/M for October

8:30 AM                    CPI Core – Ex: Food & Energy Y/Y for October

8:55 AM                    Johnson/Redbook Weekly Sales

11:00 AM                  Cleveland Fed CPI for October

12:45 PM                   Fed’s Goolsbee Speaks on Economy and Monetary Policy

 4:30 PM                    API Weekly Inventory Data

Other Key Events

American Association for the Study of Liver Disease’s Annual Liver Meeting, 11/10-11/14, in Boston, MA

Edison Electric Institute (EEI) Conference, 11/12-11/14, in Phoenix, AZ

Needham 17th Annual Needham Security, Networking, & Comm Conference (virtual), 11/14-11/16

RBC Capital Precious Metals Conference 11/14, in London

RBC Capital Global Technology, Internet, Media & Telecom Conference, 11/14-11/16, in New York

REITWorld, 11/13-11/15, in Los Angeles, CA

Stephens Annual Investment Conference, 11/13-11/16, in Nashville, TN

Stifel 2023 Healthcare Conference, 11/14-11/15, in New York

China Industrial Output and Retail Sales for October

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