Daily Market Update
with JJ Kinahan

5 min read

Positive Spin: Strong Retail Earnings, Subdued Inflation Data Seem To Raise Spirits

(Wednesday Market Open) After waiting for the latest U.S. inflation data, the market rose slightly in premarket trading as the headline consumer price index rose 0.3% in October, in line with Briefing.com consensus forecasts, but slowed to 2.5% on a yearly basis.

While that might not be enough to alter the Federal Reserve’s current track of gradually increasing interest rates, it likely doesn’t do anything to increase the market’s fear that the central bank might become more hawkish and end up tightening monetary policy more quickly. 

Ringing Up Sales Ahead of the Holidays

Another bright spot this morning came as a present from Macy’s (M), which reported earnings per share that handily beat expectations on revenue that was slightly stronger than analysts had forecast, in the latest positive sign for the company’s turnaround story. It’s another retailer that has beaten projections after Home Depot (HD) also beat on top and bottom lines.

Ahead of the holiday season—all important for retailers—data have been showing that the American consumer se

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Daily Market Update

Previous Daily Market Update articles

Market Seems Poised for a Bounce After Home Depot Earnings, Trade News November 13, 2018 9:20 AM   |  

This morning, momentum seems to have swung into positive territory after yesterday’s rout, as one of the nation’s large retailers reported better-than-expected earnings and a report said that China and the United States have re-started trade talks.

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After a 2% rally last week, stocks got off on a very different foot Monday. The tech and financial sectors helped lead the way lower amid geopolitical concerns and tech demand worries. A stronger dollar could be a sign that some investors are adopting more of a “risk-off” stance.

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Dollar, Crude, Retail Earnings Take Spotlight As New Week Gets Underway November 12, 2018 9:20 AM   |  

A recent slide in oil prices and disappointing news out of China seems to have underscored fears about global economic growth, even as investors appear to worry about the Fed’s reaction to inflation in the United States.

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Wintry Feel: Hawkish Fed, Rising Producer Prices Give Market a Chill November 9, 2018 9:30 AM   |  

The market starts Friday with pressure expected, in part due to the Fed’s expectations of more rate hikes and from a wholesale inflation report that showed prices climbing more than analysts had expected.

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