• Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Dividend Stocks Report
No Result
View All Result
Home Stock News

Stock futures decline as rising rates continue to unnerve investors, Gap shares lead retail lower

by
November 24, 2021
in Stock News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

U.S. stock futures were lower early Wednesday morning as rising rates continued to frighten away investors from high-priced tech shares.

Related Posts

Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

Microsoft CEO Nadella calls A.I.-powered search biggest thing for company since cloud 15 years ago

Analysts love these stocks with big upside to play the ChatGPT-driven artificial intelligence craze

Stocks moving in after-hours: Chipotle, VF Corp, Fortinet, Enphase Energy

Other factors were also influencing the market early Wednesday:

Traditional retail stocks took a hit following poor quarterly results. Gap lost 21% and Nordstrom tumbled about 27% in premarket trading. Both companies reported earnings misses for the most recent quarter.Rising Covid cases in Europe continued to worry investors. Germany was considering a full Covid lockdown.A slew of of economic data due out this morning will dictate trading, including weekly unemployment claims, a second GDP update and the Fed’s preferred inflation gauge (PCE deflator). The Fed will release the minutes for their last meeting this afternoon.

Dow Jones Industrial Average futures shed 92 points, or 0.3%. S&P 500 futures lost 0.2% and Nasdaq 100 futures also shed 0.2%.

Yields have been rising since President Joe Biden’s renomination of Jerome Powell as chairman of the Federal Reserve on Monday. The 10-year Treasury yield ended last week at 1.55% and was last at 1.65% Wednesday.

The move in rates has sent investors fleeing from tech and growth shares, while boosting some bank stocks and energy shares. The divided market has left the Dow in the green for the week so far, the S&P 500 slightly lower and the Nasdaq Composite down by about 1.8%.

U.S. markets are closed Thursday for Thanksgiving and will close early on Friday in a shortened session.

“It’s certainly a story of more rotation,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “The market is now — with the Powell renomination — thinking this is a reopening story, which sets aside any of the risks or concerns we might have about rising Covid infection rates.”

Gap shares plummeted after the company said third-quarter results fell short because of product delays. Earnings last quarter were just 27 cents a share, nearly half what analysts had expected.

Tesla shares were lower again after Elon Musk sold another $1 billion in stock.

Computer hardware company HP’s shares got a more than 6% lift in the premarket after reporting earnings that beat on the top and bottom lines and issuing higher first-quarter earnings guidance.

Next Post

Stocks making the biggest moves premarket: Deere, Gap, Nordstrom, VMware, HP & more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Stock News

Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

by
February 8, 2023
0

In this article CMG Follow your favorite stocksCREATE FREE ACCOUNT A Chipotle restaurant and signage is seen on February 09,...

Read more

Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

Analysts love these stocks with big upside to play the ChatGPT-driven artificial intelligence craze

Microsoft CEO Nadella calls A.I.-powered search biggest thing for company since cloud 15 years ago

Stocks moving in after-hours: Chipotle, VF Corp, Fortinet, Enphase Energy

Pro Picks: Watch all of Tuesday’s big stock calls on CNBC

Ebay plans to lay off 500 employees, about 4% of its workforce

Load More

All rights reserved by www.dividendstocksreport.net

  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.