Veteran's Day, Singles's Day, Lemonade: Three Things to Watch



© Reuters.

By Christiana Sciaudone

Investing.com —  Markets were mixed on Tuesday, with tech stocks weighing on the and while the tacked on about 250 points. 

Amazon (NASDAQ:) was among the biggest drags after the European Union slapped it with an antitrust complaint that sent the online retail giant down more than 3%. Apple (NASDAQ:) was an exception, as the iPhone maker traded slightly higher after unveiling new Mac computers featuring its in-house chip, the M1. The Dow’s outperformance was due in part to Boeing (NYSE:) Co., which surged on news the 737 Max’s grounding may end as soon as next week.

President-elect Joe Biden said his transition is underway and nothing is going to stop the U.S. transfer of power, even if President Donald Trump continues with the as-yet unconvincing legal challenges.

Here are three things that may move markets tomorrow:

1. U.S. bond markets closed for holiday

It’s Veterans Day in the U.S., and thus there are no major economic data releases and the Treasury market is closed. So it’s all eyes on equities.

2. Shop Your Blues Away

Sure, it’s happening in China, but Singles’ Day is a global phenomenon. And Alibaba (NYSE:) trades here. The event racked up a staggering $38 billion of sales last year. Several U.S. merchants will be making their first appearance, part of the largest international presence since the event’s inception 11 years ago.

3. Turn Lemons Into…

The earnings calendar is lacking in star quality. One standout is Lemonade Inc (NYSE:), the online home insurer backed by SoftBank Group Corp. that went public in July. Analysts are expecting $14.6 billion in revenue, but a 64-cent per share loss on the earnings front.

READ  Exclusive: EU antitrust regulators set to clear Fiat-PSA merger - sources

 

 

 

 

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here