Stocks that are expected to trade actively in the U.S. market on Wednesday include eBay Inc (NASDAQ:EBAY), Netflix, Inc. (NASDAQ:NFLX), United Technologies Corporation (NYSE:UTX), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and U.S. Bancorp (NYSE:USB).
U.S.: Dow 16,414.44 (-0.27%), S&P 500 1843.80 (0.28%), NASDAQ 4225.76 (0.67%).
Europe: FTSE 6826.30 (-0.10%), DAX 9689.44 (-0.42%), CAC 40 4313.61 (-0.24%).
David Einhorn's Greenlight Capital funds returned -2.6% in the third quarter of 2021, compared to a return of 0.6% for the S&P 500 in the same period. Longs detracted 4.5% in the quarter while shorts added 1.2% and macro added 1.0%, according to a copy of the letter ValueWalk has been able to review. In Read More
Asia Pacific: NIKKEI 15820.96 (0.16%), HANG SENG 23082.25 (0.21%), SHANGHAI 2051.75 (2.16%), KOSPI 1970.42 (0.33%).
Commodities: Oil 95.35 (0.29%), NAT GAS 4.498 (1.51%), Gold 1240.50 (-0.10%), Silver 19.86 (-0.05%), Wheat 565.00 (0.49%), Corn 427.75 (0.65%).
Currency: EUR/USD 1.355 (-0.07%), GBP/USD 1.6533 (0.36%), USD/JPY 104.33 (0.02%).
10 Year Treasury bond: 2.852 (0.04).
Economic & Market Update
U.S. markets up slightly — the Standard & Poor’s 500 index moved ahead slightly on Tuesday on a mixed day for the stock market. The Standard & Poor’s 500 increased 5.10 points, or 0.3%, to 1,843.80. The Dow Jones industrial average dropped 44.12 points, or 0.3%, to 16,414.44. The Nasdaq composite climbed 28.18 points, or 0.7%, to 4,225.76.
European markets up — European shares climbed on Wednesday on the back of better than expected results from Dutch technology firm ASML, which increased the optimism over the European earnings season. The pan-European FTSEurofirst surged 0.3% at 1,349.55, which is a slight decline from the multi-year high of 1,353.47 touched during Tuesday trade.
Asian markets up — The Nikkei Stock average climbed a bit on Wednesday, fueled by an upbeat earning report from the Tokyo Steel Manufacturing Co Ltd. The broader Topix index was up 0.3% at 1,299.63. The CSI 300 of the largest Shanghai and Shenzhen A-share listings ended up 2.6% at 2,243.8 points, and the Shanghai Composite Index surged 2.2 percent.
Stocks To Watch
eBay Inc (NASDAQ:EBAY)
eBay is expected to post earnings of 80 cents per share in the fourth quarter. The company plans to allow the sale of the virtual currency Bitcoin in its virtual currency category. There are cautious tones rising from the government regulators, but eBay is confident on the currency, and the sale of this currency on eBay will start soon in UK and the USA.
Netflix, Inc. (NASDAQ:NFLX)
Netflix is expected to post fourth-quarter earnings of 65 cents per share, which would be a large increase from 13 cents per share in the corresponding quarter of the previous year.
United Technologies Corporation (NYSE:UTX)
United Technologies is expected to post fourth quarter earnings of $1.53 per share. Analysts are expecting the company to post ballpark 20% higher earnings year-over-year.
Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX)
Freeport-McMoRan Copper & Gold Inc. is expected to post fourth-quarter earnings of $0.81 per share and revenue of $6.39 billion for the quarter.
U.S. Bancorp (NYSE:USB)
U.S. Bancorp is projected to report earnings of 75 cents a share in the fourth quarter. U.S. Bancorp will shut down its service offering advance loans to direct deposit customers as the business suffers due to regulators and consumer advocates.