Last Updated: 4:15 PM EST
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Stock indices finished today’s trading session mixed. The Nasdaq 100 (NDX) and the S&P 500 (SPX) gained 0.71% and 0.4%, respectively. Meanwhile, the Dow Jones Industrial Average (DJIA) fell by 0.28%.
Earlier today, the Census Bureau released its U.S. Housing Starts report today, which measures the change in new residential buildings that began construction in the reported month on an annualized basis. In October, housing starts came in at 1.311 million versus expectations of 1.34 million. On a month-over-month basis, housing starts decreased by 3.1%. This follows a 1.9% decrease in last month’s report.
In addition, U.S. Building Permits missed expectations, with a print of 1.416 million compared to the forecast of 1.44 million. This was also a decrease from the prior month’s report, which came in at 1.425 million, equating to a 0.6% month-over-month drop.
As a result of today’s data, The Atlanta Federal Reserve updated its latest GDPNow reading, which allows it to estimate GDP growth in real time. Currently, it estimates that the economy will expand by about 2.6% in the fourth quarter. This is higher than its previous estimate of 2.5%
First Published: 3:49 AM EST
U.S. stock futures traded higher on Tuesday morning as investors eagerly awaited key earnings reports from the retail giant Walmart (WMT) and the tech giant Nvidia (NVDA). Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.22%, 0.13%, and 0.16%, respectively, at 3:17 a.m. EST, November 19.
Yesterday, the stock market witnessed a mixed performance. The tech-heavy Nasdaq Composite index gained 0.6% and the S&P 500 closed 0.39% higher. However, the Dow Jones slipped 0.13%, marking its fourth decline in the previous five trading sessions.
In major stock market news, Alphabet (GOOGL) was down nearly 1% on reports that the U.S. Department of Justice plans to file an antitrust lawsuit against Google, potentially forcing the tech giant to divest its Chrome browser. Also, NVDA stock declined 1.3% on news that its new Blackwell chips faced overheating issues.
In contrast, Super Micro Computer (SMCI) stock jumped 15.9% on Monday, topping the S&P 500 index, after the company disclosed plans to avoid a potential delisting from the Nasdaq.
Moving to key economic data, the U.S. Housing Starts and Building Permit reports will be released today. Also, investors are looking forward to a speech by Chicago Federal Reserve President Austan Goolsbee.
Today, investors are eagerly awaiting Walmart’s Q3 earnings report to gain insights into how the retailer is handling inflationary pressures. Further, XPeng (XPEV), Lowe’s (LOW), Workhorse (WKHS), and Medtronic (MDT) are scheduled to release their quarterly numbers today.
Meanwhile, the U.S. 10-year treasury yield was down at the time of writing, floating near 4.404%. At the same time, WTI crude oil futures trended lower, hovering near $69.03 per barrel as of the last check.
Elsewhere, European markets opened higher today as investors awaited key inflation reports from the region and looked forward to the NVDA’s Q3 earnings report, scheduled for release tomorrow.
Asia-Pacific Markets Traded Higher on Tuesday
Asia-Pacific indices were in the green today on expectations that Beijing will introduce additional stimulus measures to support economic growth. Further, traders are looking ahead to Japan’s trade data and China’s Loan Prime Rate decision due on Wednesday.
Hong Kong’s Hang Seng index was up 0.4%. Moreover, China’s Shanghai Composite and Shenzhen Component indices rose 0.67% and 1.9%, respectively. Also, Japan’s Nikkei and Topix indices finished higher by 0.51% and 0.68%, respectively.
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