Earnings: Via CNBC
WMT reported third-quarter earnings on Tuesday that topped Wall Street’s expectations as customers continued to shop online and sent U.S. e-commerce sales soaring by 79%.
HD Reported earnings $3.18 A Share 12 cents a share above estimates. Revenue came in above Wall Street forecasts. Same-store sales jumped 24.1%, compared to the 16.9% increase predicted by analysts polled by FactSet. Home Depot is also making some temporary compensation enhancement programs permanent, adding about $1 billion per year to employee costs. The shares fell 2% in premarket trading as of 7:35 a.m. ET.
Kohls Posted a profit of 1 cent a share compared to analysts’ forecasts of a 43 cents per share loss. Revenue was slightly below forecasts, however, and comparable stores fell a greater-than-expected 13.3% as the pandemic reduced foot traffic in its stores. The shares fell slightly in premarket trading as of 7:35 a.m. ET.
More stock news:
- Tesla will be added to S&P 500 on Dec 21st
- Amazon will now sell prescription drug orders launching a Digital pharmacy
Vaccine news isn’t what it used to be, markets worried about increases lockdown, shutdown measures across the Globe and especially in the US per Bloomberg “California on Monday reinstituted bans on many indoor businesses, and its governor warned he may impose a curfew. Michigan has ordered a three-week partial shutdown, while states including Oregon, Washington and New Jersey tightened curbs. Even the governor of Iowa, long resistant to virus rules, issued a limited mask mandate Monday” once again business may stay open, but customers may not show up. WSJ article also painting a troubling picture ‘Government stimulus money was supposed to keep companies in business and save jobs. Now, nearly 300 firms that got up to $500 billion in cash have gone bust.” Country needs new round of stimulus and politicians in Washington dragging their collective feet. HI sleaves Fed only game in town
Treasury Curve flattening a bit as you might expected as the Optimism surrounding the economy takes a hit, also JPM saying that Fed will extend the maturity of Bond buying at December meeting, Nasdaq Up ,Spoos & Russell lower, Dollar lower .31%,Working on a fourth consecutive lower close, Not having the Risk On impact it normally does. Copper and oil also down on day The Latter two proxies’ loose proxies for Shutdown fears. Euro and GBP both higher Brexit deal optimism I guess precious metals lower today, attention needs to be paid Dollar down Bonds up bad retail sales numbers and yet Gold Sideways?
Soybeans cannot be stopped “Cartonnier cuts Brazilian corn and Argentine bean crop projections… South American Crop Consultant Dr. Michael Cordonnier lowered his Brazilian corn crop estimate 2 MMT to 106 MMT, and his bias is neutral to lower going forward. Pro farmer
- OPEC + ministers meeting today
- CEOs of Face Book and twitter to be Questioned by a senate panel today
- Powell speaks in California Should be non-event
- Bank of America said that Fund managers are so Bullish it is time to sell-Bbg
- Biden will name more white house aides today