Here is what you need to know on Tuesday, November 22:
Equity markets continue to slide lower as news flow is light in a shortened week. At least The Wall Street Journal provided some volatility as a report it carried caused oil to collapse 5% before Saudi Arabia denied any planned OPEC increases. That saw oil stocks slide Monday, but they are up today in Europe and should follow suit in the US as oil steadies. Earnings overnight were mixed with retailers again performing alright, but the disappointing forecasts from Dell Technologies (DELL) created another storm cloud. The highlight this week is likely to be FOMC minutes, and given how hawkish Powell was in the presser it seems a good bet that those minutes should err on the side of the hawks.
The Dollar Index is lower this morning at 107.43 while Bitcoin continues to suffer at $15,700 now. Oil is back up to $81, and Gold is higher on the falling dollar at $1,747.
European markets: Eurostoxx -0.35%, FTSE +0.2% and Dax flat.
US futures: all flat for Nasdaq, Dow and S&P.
Wall Street top news
ECB Holzman looking for a 75bps hike.
Dell Technologies (DELL) beats, but the forecast is weak.
Best Buy (BBY) beats on earnings.
Dollar Tree (DLTR) releases earnings before the open.
GameStop (GME): Carl Icahn rumored to be short.
Tesla (TSLA) rumors circulate of price cut in China.
Burlington Stores (BURL) beats on strong earnings.
UK begins investigation into Apple (AAPL), Google's (GOOGL) mobile browser dominance.
China's Baidu (BIDU) beats Q3 revenue estimates as ad sales recover.
Medtronic (MDT): The company lowered its full-year profit outlook, blaming a stronger dollar.
Zoom Video Communications (ZM) lowered its annual revenue forecast.
Kroger Co (KR): Labor union International Brotherhood of Teamsters said on Monday a new national contract at the US grocery chain has been ratified with overwhelming support.
Novavax (NVAX): The drugmaker said on Monday it had delivered a written notice to GAVI, the Vaccine Alliance, terminating with immediate effect an agreement for the sale of the company's COVID-19 vaccine to low- and middle-income countries.
Walt Disney Co (DIS): A day after returning to the company, Chief Executive Bob Iger moved to undo a corporate structure put in place by his hand-picked successor.
Upgrades and downgrades
Economic releases due
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.