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U.S. stock futures continue to rally on Wednesday as tech shares find breathing room ahead of the holiday and retail skyrockets. The cruise line operator missed market estimates for quarterly revenue on Wednesday as inflation-hit consumers turn cautious about discretionary spending such as cruise travel. There’s been a rare disconnect between the price of oil and the movement of energy DotBig stocks. "We’re seeing a broad rally. It’s been helped by upbeat corporate commentary and an improvement in consumer confidence," said Angelo Kourkafas, investment strategist at Edward Jones in St. Louis referring to Nike and FedEx. Micron, reporting earnings on Wednesday, forecast second-quarter revenue of $3.8 billion, plus or minus $200 million, above Wall Street estimates.

stock market news today

Provide specific products and services to you, such as portfolio management or data aggregation. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. The average price of a gallon of gasoline on Tuesday was $3.123. Fiscal second quarter revenue fell to $22.8 billion from $23.5 billion. While the changes won’t affect the 2022 taxes due on April 18th, several are important for taxpayers to be aware of as they budget for 2023 and plan retirement contributions. The National Association of Realtors is expected to release existing home sales for November.

Shares of Nike jumped more than 10% after the company reported earnings that exceeded analyst estimates, with management highlighting a favorable demand backdrop. Shares of FedEx rose 3% after beating earnings estimates as well, with a focus on cost cutting. Elsewhere, government bond yields were little changed after rising yesterday following the Bank of Japan’s surprise decision to raise the upper limit of its 10-year bond DotBig yield. On the data front today, MBA mortgage applications for the week ended December 16 climbed 0.9%, down from last week’s 3.2% print. The Conference Board Consumer Confidence Index is forecasted to show a modest increase, up to 101 in December versus November’s 100.2 figure. Elsewhere, existing home sales are anticipated to fall 5.2% month-over-month in November, strengthening slightly from October’s 5.9% monthly decline.

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Nike shares are 12% higher in premarket trading after the company beat Wall Street estimates for quarterly revenue on Tuesday, helped by persistent demand for its sneakers and sportswear in North America and Europe. U.S. consumer confidence rose to an eight-month high in December as inflation retreated and the labor market remained strong while 12-month inflation expectations fell to 6.7%, the lowest since September 2021. The Charles Schwab Corporation provides a full range of brokerage, nasdaq GOOGL banking and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. , offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank, SSB , provides deposit and lending services and products. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons.

stock market news today

The Dow gained 526 points, while the technology heavy Nasdaq Composite jumped 1.5%. The S&P 500 increased 1.5% with all S&P sectors finishing in positive territory. Stocks extended Tuesday’s gains with the Dow adding 500 points as consumer confidence rose to an eight-month high, though existing home sales slipped for another month. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.

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  • NKE said its growth was broad-based and was driven by its expanding digital leadership and brand strength.
  • Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
  • Dollar Index is climbing 0.2% against a basket of major currencies, while the Japanese yen is hovering near a four-month high.
  • While the changes won’t affect the 2022 taxes due on April 18th, several are important for taxpayers to be aware of as they budget for 2023 and plan retirement contributions.
  • Linnartz also sits on the board of home-improvement retailer Home Depot .

In addition, the market is now also assigning a 24.7% probability to a range of 4.5% to 4.75%. For reference, investors had assigned a 21% chance yesterday. Why Carnival Stock Sailed Higher on Wednesday Carnival’s still sailing through a financial storm, but investors are just happy it hasn’t sunk. Founded in 1993 by brothers Tom and David Gardner, The GOOGL Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Securities and Exchange Commission and the Financial Industry Regulatory Authority, but is not licensed or registered with any financial services regulatory authority outside of the U.S.

Nike posted a profit of 85 cents per share in the second quarter ended November, topping an average estimate of 64 cents, according to Refinitiv data. Under Armour Inc on Wednesday named Stephanie Linnartz as its chief executive officer, effective Feb. 27, to succeed Patrik Frisk who stepped down from his role in June. AMC in August announced its preferred share APE as a special dividend for shareholders and a means to raise capital in the future. The company listed these shares in New York under the ticker ‘APE’. It is likely that this downward trend will continue as the Federal Reserve continues to hike interest rates to combat inflation.

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But it forecast a loss of 62 cents per share plus or minus 10 cents, much steeper than analysts’ estimates for a 30 cents loss. Treasury rates were mixed, as the yield on the 2-year note declined stock market news today 4 bps to 4.23%, the yield on the 10-year note was flat at 3.68%, and the 30-year bond rate rose 1 bp to 3.74%. On Wednesday, the National Association of Realtors released its U.S.

Markets rebound after promising COVID-19 vaccine trial

Existing home sales fell 7.7% last month from October to a seasonally adjusted annual rate of 4.09 million, the National Association of Realtors said Wednesday. That’s lower than what economists had expected, according to FactSet. “The recent drop in prices seems to be based on a stronger U.S. Dollar, COVID-19 lockdowns in China, and fears of a recession dampening demand,” said Adam Kobeissi, founder of the financial newsletter, The Kobeissi Letter.

The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype. The widening of the cap on the 10-year Japanese government bond yield led to a spike in the 10-year U.S. At the end of the regular trading session Tuesday, the S&P 500 and the Dow were up 0.1% and 0.28%, respectively. Nonetheless, the Nasdaq 100 lost 0.11% by the end of the day. Futures on the Dow Jones Industrial Average gained 0.70%, while those on the S&P 500 jumped 0.46%, as of 7.05 a.m.

The United States has released doses of the antiviral flu drug Tamiflu through a national stockpile for the flu season amid surging demand, the health department said on Wednesday. "Due stock market news today to the significant supply demand mismatch entering calendar 2023, we expect that profitability will remain challenged throughout 2023," Micron chief executive Sanjay Mehrotra said.

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