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Wall Avenue Pre-Open AOF Evaluation – Anticipated Pullback, Retail on Hue and Dia – 11/16/2022 at 3:02 p.m

(AOF) – U.S. markets are expected to decline slightly. Retail sales are the focus of this session. Index futures pared losses on news of a stronger-than-expected rise in retail sales in October. However, the message that Target is delivering along with its quarterly results paints an opposite picture of the American consumer. Industrial production will provide new information about the health of the economy. Minutes before open, futures on the S&P 500 are down 0.14% and those on the Nasdaq Composite are down 0.25%.

Yesterday on Wall Street

US stock markets ended the session in the green. The move remained bullish following the release of producer prices, which rose less quickly than expected in October. They buoyed indices and calmed the outlook for inflation in the United States, with annualized inflation falling back below 8% last month. Listed assets, Walmart has topped the Dow Jones on the back of its strong quarterly results. The Dow Jones rose 0.17% to 33,592 points and the Nasdaq rose 1.45% to 11,358 points.

Macroeconomic Numbers

Retail sales in the United States rose 1.3% in October. They were expected to rise 0.9% while remaining stable in September. Ex-autos retail sales rose 1.3% versus expectations for a 0.6% increase.

US import prices fell 0.2% in October after falling 1.1% in September, a revised figure of -1.2%.

Industrial production and manufacturing capacity utilization for October are due at 3:15 p.m. and the NAHB Homebuilder Confidence Index for November is due at 4:00 p.m.

The values ​​follow

carnival society

Cruise specialist Carnival Corporation has issued $1 billion in convertible bonds due 2027 that pay 5.75% annual interest. The conversion price is approximately $13.39 per share. This represents a premium of approximately 20% over the last reported sale price of the Company’s common stock on the New York Stock Exchange on November 15, 2022.

Estee Lauder

The American cosmetics group Estée Lauder announced on Tuesday that it would buy American designer Tom Ford’s company for $2.3 billion. Tom Ford will remain the official founder of his company until the end of 2023. Estée Lauder hopes to complete operations in the first half of 2023 and will now hold the intellectual property rights to all products signed by the Texas-based designer and stylist. With Tom Ford Beauty, it offers one of the strong assets of its brand portfolio.

Qualcomm

Credit Suisse began tracking Qualcomm with an Outperform rating and a price target of $150. This is his favorite stock among smartphone-exposed stocks that could get a deal with Apple. The market research firm believes that semiconductors are in a period of sustained long-term growth, with factors such as AI, cloud computing and automotive all driving further growth.

target

Target, whose stock is down 14% in transactions before Wall Street opened, expects a tough time ahead of the holiday season. High inflation, “dramatic changes” in consumer behavior… The American discounter is planning a savings plan of two to three billion dollars over three years. For the third quarter ended October, Target posted adjusted earnings per share of $1.54, up almost half. Net income fell 52% to $712 million.

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