Good morning! For Nov. 5, 2015, here’s your top stock market news and stocks to watch…
Stock Futures Today
Futures for today (Thursday) were up 17 points this morning as markets continue to parse through statements made by members of the U.S. Federal Reserve and react to positive earnings reports. Asian and European markets were down after investors reacted to the increased possibility of an interest rate hike in 2015.
Yesterday, the Dow Jones Industrial Average slipped 50 points after Fed Chairwoman Janet Yellen hinted the possibility of an interest rate hike in December remained “live” Yellen cited improvements in the U.S. labor market and an expected return to the target inflation rate of 2%, according to her statement yesterday. According to the CME Group’s FedWatch, the odds of a rate hike have jumped from 52% to 58%. Meanwhile, gold prices slipped to a one-month low as traders anticipate a stronger dollar in today’s trading session.
Top News in the Stock Market Today
The stock market: Six members of the Federal Reserve will give speeches and chime in on the possibility of an interest rate hike in December. On the data side, pay attention to weekly jobs claims – which are hovering near a 42-year low – and the Bloomberg Consumer Comfort Index.
Oil Outlook: Oil prices were down marginally this morning on news U.S. inventory levels continue to build. December futures for WTI crude were off 0.17% to hit $46.24 per barrel, while Brent crude futures were flat to trade at $48.58 per barrel. Prices remain volatile after the U.S. Energy Information Administration (EIA) announced domestic crude stocks increased by 2.85 million barrels last week. Meanwhile, U.S. imports slipped to their lowest levels since 1991.
Earnings Outlook: DIS, WTW, RL, TRIP, CELG, MNST, SYMC, CROX
Earnings Report No. 1, DIS: After the bell, Walt Disney Co. (NYSE: DIS) will report earnings for the fourth quarter. Wall Street analysts maintain a consensus outlook for earnings of $1.17 per share on $13.56 billion in revenue. Disney stock slumped hard on Wednesday due to a poor report from Time Warner Inc. (NYSE:TWX), which raised concerns about potential cord cutting among cable customers.
Earnings Report No. 2, WTW:After the bell, Weight Watchers International Inc. (NYSE: WTW) will report third-quarter earnings, and the pressure is on for the diet company after the recent deal that saw Oprah Winfrey join the firm’s board of directors and purchase 10% of its equity. The company is expected by Wall Street to report quarterly earnings of $0.30 per share on $265.6 million in revenue.
Earnings Report No. 3, RL: Before the bell, Ralph Lauren Corp.(NYSE: RL) will report fiscal second-quarter earnings. The fashion icon has seen shares plunge by nearly 40% from its 52-week high this year and has seen increased downward pressure since a downgrade last week from investment bank Barclays Plc.(NYSE: BCS).
Additional companies reporting earnings include Agrium Inc.(NYSE: AGU), Crocs Inc. (Nasdaq:CROX), Tripadvisor Inc.(Nasdaq:TRIP), Monster Beverage Corp. (Nasdaq: MNST), Symantec Corp. (Nasdaq: SYMC), Skyworks Solutions Inc. (Nasdaq: SWKS), and Celgene Corp. (Nasdaq:CELG).
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