Stocks futures are up after the S&P 500 and Nasdaq posted best days since April.
My top 10 things to watch Wednesday, Nov. 15
1. The meeting between China’s Xi Jinping and President Biden on Wednesday — the first in-person meeting between the two leaders in a year — is now seen as just a formality. Biden has said his goal is to restore normal communications with Beijing. The meeting comes as the China’s economy has struggled to bounce back from the pandemic.
2. Oil prices continue to go down, with U.S. West Texas Intermediate contracts for December now below $79. This despite the ongoing war between Israel and Hamas in the Middle East, a region which holds much of the world’s petroleum supplies. Who is doing all the pumping?
3. Target (TGT) posts a great bottom line, even as sales for the big-box retailer slipped again. Shares jumped more than 10% in the premarket. Earnings per share: $2.10 vs. $1.48 expected. Sales: $25.4 billion vs. 25.24 billion expected. Better management of inventory, less shrinkage. Management is seeing weaker discretionary spending. I have Target CEO Brian Cornell on Mad Money tonight at 6 ET.
4. Takeaway from Home Depot’s (HD) quarterly earnings: Club name Stanley Black & Decker (SWK) has the hottest tools.
