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Barchart
Barchart
Oleksandr Pylypenko

Stocks Tread Water Before the Open as Investors Await U.S. Economic Data and Fed Speak, Walmart Earnings on Tap

December S&P 500 futures (ESZ23) are up +0.02%, and December Nasdaq 100 E-Mini futures (NQZ23) are down -0.09% this morning as market participants looked ahead to a new round of U.S. economic data and speeches from Fed officials.

In Wednesday’s trading session, Wall Street’s major averages ended higher, with the benchmark S&P 500 and blue-chip Dow posting 2-1/2 month highs and the tech-heavy Nasdaq 100 notching a 3-3/4 month high. Target Corporation (TGT) surged over +17% and was the top percentage gainer on the S&P 500 after the big-box retailer reported upbeat Q3 results. Also, Sirius XM Holding Inc (SIRI) climbed more than +6% after Warren Buffett’s Berkshire Hathaway disclosed a stake in the audio entertainment company. In addition, VF Corporation (VFC) soared over +14% after JPMorgan Chase upgraded the stock to Neutral from Underweight. On the bearish side, TJX Companies Inc (TJX) fell more than -3% after the company offered disappointing guidance for the all-important holiday quarter.

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