December S&P 500 futures (ESZ23) are trending up +0.34% this morning as market participants digested strong industrial output and retail sales data from China while also bracing for crucial U.S. PPI and retail sales data.
In Tuesday’s trading session, the benchmark S&P 500 and blue-chip Dow posted 2-month highs, and the tech-heavy Nasdaq 100 notched a 3-3/4 month high. Home Depot Inc (HD) climbed over +5% and was the top percentage gainer on the Dow after reporting a lesser-than-anticipated decline in Q3 comparable sales. Also, regional bank stocks gained ground, with KeyCorp (KEY) surging more than +9%, Zions Bancorporation (ZION) soaring over +7%, and Citizens Financial Group Inc (CFG) rising more than +6%. In addition, Snap Inc (SNAP) jumped over +7% after the Information reported that Amazon.com had agreed to enable users to make direct purchases from ads within the Snapchat app. On the bearish side, Fisker Inc (FSR) tumbled more than -18% after the company reported downbeat Q3 results and warned that it would delay its 10-Q filing after finding material weaknesses in internal controls.
