For Nov. 16, 2015, here are your stock market futures, earnings reports, top stock market news, and stocks to watch…
Stock Futures Today
Futures for the Dow Jones Industrial Average today (Monday) were up 26 points. This morning, European stock markets were moving higher as investors weigh the ongoing impact of the 2015 Paris terrorist attacks that happened Friday night.
On Friday, the Dow fell 202 points, ending its six-week win streak. The markets slipped as Cisco Systems Inc. (Nasdaq: CSCO) fell nearly 6% on weak forward guidance. The firm said orders have slumped from customers outside of the United States. Meanwhile, Friday was an ugly day for retail stocks, a turnaround from Thursday’s strong trading session. Shares of Nordstrom Inc. (NYSE: JWN) and Macy’s Inc. (NYSE: M) fell after both companies slashed their full-year forecasts. Nordstrom sank nearly 15%. Shares of JC Penney Co. Inc. (NYSE: JCP) cratered more than 15% despite reporting better than expected earnings.
Top News in the Stock Market Today
The Stock Market Today: Investors will keep an eye on the Empire State Manufacturing Survey and a number of speeches from members of the U.S. Federal Reserve. However, the primary focus of the markets will be how traders react to the 2015 Paris terrorist attacks, which struck France on Friday night. In an interview this morning, the Oracle of Omaha, Warren Buffett, said that he will not sell any stocks due to the 2015 Paris terrorist attacks. Private equity legend Wilbur Ross also said that he also doesn’t expect any correction in the wake of the terrorist attacks.
Gold Prices: Gold prices were up nearly 1% this morning, but remain below $1,100 per ounce. Prices were on the rise as traders purchased bullion over geopolitical concerns linked to the 2015 Paris terrorist attacks. Although gold prices remain 43% off from their all-time record in 2011, our Global Credit Strategist Michael Lewitt says that he is buying gold coins ahead of an international credit event tied to the Federal Reserve.
Japan Sinks: Earlier today, Japan’s Cabinet Office announced that its GDP declined in the September-ending quarter, pushing the country back into a technical recession. According to reports, GDP fell at an annualized pace of 0.8% in the third quarter. The news is a major blow to Abenomics.
Oil Outlook: This morning, oil prices were on the rise as geopolitical concerns rise in the wake of Friday’s Paris 2015 terrorist attacks. December WTI oil prices added 1.6% to hit $41.42 per barrel, while Brent crude prices gained 1.0% to hit $44.92.
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