Today, market participants will be closely monitoring the
release of the Federal Reserve’s minutes from the November meeting
for any new insights into the future trajectory of interest
rates.
“We are not expecting any major new information, but the minutes
could be less dovish than the current market pricing. The minutes
are likely to indicate that the door is still open for another hike
and emphasize that rates need to be kept on hold for longer,” said
Mohit Kumar, a managing director at Jefferies International.
Also, investors will likely focus on U.S. Existing Home Sales
data. Economists, on average, forecast that October Existing Home
Sales will stand at 3.90M, compared to the previous value of
3.96M.
In the bond markets, United States 10-year rates are at 4.412%,
down -0.27%.
On the earnings front, notable companies like NVIDIA (NVDA),
Lowe’s (LOW), Medtronic (MDT), Analog Devices (ADI), Autodesk
(ADSK), HP Inc (HPQ), Best Buy (BBY), and Dick’s Sporting Goods
(DKS) are set to report their quarterly figures today.
Pre-Market U.S. Stock Movers
Symbotic (NASDAQ:SYM) surged about +22% in
pre-market trading after the company posted upbeat Q4 results and
provided above-consensus Q1 revenue guidance.
Agilent Technologies (NYSE:A) climbed over +6%
in pre-market trading after the company reported
better-than-expected Q4 results.
Avita Medical (NASDAQ:RCEL) plunged more than
-10% in pre-market trading after the skin restoration-focused
pharmaceutical company lowered its annual commercial revenue
guidance.
Keysight Technologies (NYSE:KEYS) rose over +1%
in pre-market trading after the company reported
stronger-than-expected Q4 results.
Xylem (NYSE:XYL) gained about +1% in pre-market
trading after Deutsche Bank upgraded the stock to Buy from
Hold.
Gen Digital (NASDAQ:GEN) climbed more than +3%
in pre-market trading after Morgan Stanley upgraded the stock to
Overweight from Equal Weight.
Today’s U.S. Earnings Spotlight: Tuesday – November
21st
NVIDIA (NVDA), Lowe’s (LOW), Medtronic (MDT), Analog Devices
(ADI), Autodesk (ADSK), Baidu (BIDU), HP Inc (HPQ), Jacobs
Engineering (J), Best Buy (BBY), Dick’s Sporting Goods (DKS),
Burlington Stores (BURL), Miniso (MNSO), Dlocal (DLO), iQIYI (IQ),
NewJersey Resources (NJR), Abercrombie&Fitch (ANF), Urban
Outfitters (URBN), Kohl’s Corp (KSS), Nordstrom (JWN), Golar
(GLNG), GDS Holdings (GDS), Golden Ocean (GOGL), Jack In The Box
(JACK), Kingsoft Cloud (KC), Guess (GES), Caleres (CAL), Embecta
(EMBC), Hibbett Sports (HIBB), Tsakos Energy (TNP), Yatsen (YSG),
GreenTree Hospitality (GHG), Agora (API).
ANALYST RECOMMENDATIONS
Agilent Technologies.: JP Morgan maintains its
overweight recommendation and reduces the target price from $150 to
$140.
American Tower Corporation: BMO Capital Markets
maintains its outperform rating and raises the target price from
$220 to $230.
Atmos Energy Corporation: Morgan Stanley
maintains its overweight rating and reduces the target price from
$115 to $110.
Crown Castle: BMO Capital Markets maintains its
underperform recommendation and raises the target price from $85 to
$95.
Exelon Corporation: Mizuho Securities
downgrades to neutral from buy with a price target reduced from $45
to $40.
Intuitive Surgical: Leerink Partners maintains
its outperform recommendation and raises the target price from $342
to $357.
Keysight Technologies: Barclays maintains its
equalweight recommendation and reduces the target price from $144
to $134.
Moody’S Corporation: Daiwa Securities maintains
a neutral recommendation with a price target raised from $355 to
$370.
Newmont Corporation: Macquarie initiates an
Outperform recommendation with a target price of $45.
Synopsys: Wells Fargo maintains its overweight
rating and raises the target price from $505 to $600.
The Hershey Company: RBC Capital downgrades to
sector perform from outperform with a price target reduced from
$239 to $213.
Ulta Beauty: Oppenheimer maintains its
outperform rating and reduces the target price from $540 to
$525.
Zoom Video Communications.: Goldman Sachs
maintains a neutral recommendation with a price target reduced from
$75 to $70.
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