Stock futures jump ahead of Walmart, Target & Home Depot reports

U.S. stock futures jumped on Sunday as investors await more COVID-19 vaccine updates amid revised restrictions for businesses in urban areas including New York City. Election developments will also be closely monitored along with a tsunami of major retail earnings.

STOCK FUTURES JUMP SUNDAY

Dow futures added over 180 points as of 6:30 PM ET, Nasdaq futures over 100 points, and the S&P 24.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 29479.81 +399.64 +1.37%
SP500 S&P 500 3585.15 +48.14 +1.36%
I:COMP NASDAQ COMPOSITE INDEX 11829.285546 +119.70 +1.02%

Investors will build on a robust week for U.S. stocks after the S&P 500 hit a fresh record and the Russell 2000, a benchmark of domestic-focused companies, also hit a record on Friday passing levels not seen since August 2018.

NEW YORK’S ROLLBACK OF CORONAVIRUS REOPENINGS THREATENS RENTAL MARKET RECOVERY

For the week, the Dow tacked on about 4%, the S&P over 2% while Nasdaq slipped 0.5%.

This as global investors pumped a record amount of money into equity funds.

GLOBAL STOCK FUNDS SEE RECORD INFLOWS ON PFIZER’S VACCINE NEWS

Sunday President Trump, via a tweet, sent mixed signals on the official outcome of the Presidential election, hinting that Joe Biden “won” a “rigged” 2020 presidential election, but adding that he is not conceding the race.

TRUMP SAYS FOR FIRST TIME THAT BIDEN ‘WON,’ ADDS THAT HE IS NOT CONCEDING

Vaccine makers Pfizer, BioNTech, Eli Lilly, Regeneron and Moderna will remain in focus for potential updates.

Late Friday, President Trump discussed the progress being made and distribution plays but also criticized Pfizer for not clarifying being part of Operation Ward Speed.

Ticker Security Last Change Change %
PFE PFIZER INC. 38.62 +1.07 +2.85%
BNTX BIONTECH SE 106.00 +4.37 +4.30%
LLY ELI LILLY & COMPANY 142.38 +1.35 +0.96%
REGN REGENERON PHARMACEUTICALS INC. 566.43 +9.65 +1.73%
MNRA n.a. n.a. n.a. n.a.

BIG WEEK FOR RETAIL EARNINGS

Looking ahead to earnings, Tuesday will kick-off a busy week for earnings from the world’s biggest retailers including Walmart on Tuesday.

Ticker Security Last Change Change %
WMT WALMART INC. 150.54 +2.31 +1.56%
TGT TARGET CORP. 162.88 +3.35 +2.10%

Target will follow on Wednesday. As for the home improvement chains, Home Depot reports on Tuesday followed by rival Lowe’s on Wednesday. Both retailers will give updates on whether lockdowns have boosted DIY improvement projects.

Ticker Security Last Change Change %
HD THE HOME DEPOT INC. 277.17 +0.93 +0.34%
LOW LOWE’S COMPANIES INC. 159.23 +1.25 +0.79%

ECONOMIC CALENDAR

Retail sales data will also figure prominently on the economic calendar with those stats due Tuesday. Economists are expecting sales for October to rise 0.5% down from a healthy 1.9% in September which was led by clothing, sporting goods and autos. Excluding autos, sales may tick up 0.6% vs. 1.5% the prior month.

The National Association of Home Builders will also release it sentiment survey Tuesday, followed by housing starts and permits on Wednesday, both reports gauge future demand.

OIL FIRMER 

Oil hovered around the $40 per barrel level in early trading.

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 28.13 -0.53 -1.85%

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