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Nov 20, 2018

Top 5 Things to Know in The Market on Tuesday



© Reuters.  © Reuters.
Investing.com - Here are the top five things you need to know in financial markets on Tuesday, November 20:
1. U.S. Stock Futures Tumble
U.S. stock futures pointed to a sharply lower open, with tech stocks again setting up for a tough session.
At 5:30AM ET (1030GMT), the tech-heavy were down by 64 points, or around 1%.
Apple (NASDAQ:), Facebook (NASDAQ:), Amazon (NASDAQ:), Netflix (NASDAQ:), and Google parent Alphabet (NASDAQ:), all big losers Monday, were down again in pre-market.
Meanwhile, the blue-chip were down 142 points, or about 0.6%, while the indicated a loss of 16 points, or around 0.6%.
U.S. stocks on Monday, with the dropping 400 points, as investors dumped tech shares.
Elsewhere, European stocks . All major bourses were in negative territory, with tech stocks leading losses.
Earlier, stocks in Asia closed deep in . In mainland China, the ended down 2.1%
2. Target Reports Earnings
Target (NYSE:) is one of the last notable names slated to report third-quarter results before U.S. markets open, as the earnings season continues to wind down.
The retailer is expected to report of $1.11 per share on revenue of $17.71 billion, according to estimates.
U.S. same-store sales are expected to rise 5.2%.
Investors will be closely watching the results to see whether its ongoing efforts to boost online sales are paying off.
Other notable companies reporting results ahead of the opening bell include Best Buy (NYSE:), Lowe’s (NYSE:), Kohl’s (NYSE:), TJX Companies (NYSE:), Ross Stores (NASDAQ:), and Campbell Soup (NYSE:).
Read more: Haris Anwar.
After the close, Gap (NYSE:), Foot Locker (NYSE:), BJs Wholesale (NYSE:), and Autodesk (NASDAQ:) are on deck.
3. U.S. Housing Data
On the data front, the Commerce Department at 8:30AM ET (1330GMT) is expected to report building permits fell 0.8% in October to .
Housing starts, meanwhile, are expected to rise 1.6% to .
Recent data has painted a worrying picture of the U.S. housing market, which is struggling with rising mortgage rates and tight inventory.
The , which measures the greenback’s strength against a basket of six major currencies, was a shade higher at 96.17.
In the bond market, U.S. Treasury prices edged higher, pushing yields lower across the curve, with the benchmark sliding to 3.04%.
4. Oil Prices Decline Ahead of API Report
In commodities, oil prices were ahead of the release of fresh weekly data on U.S. commercial crude inventories.
The is due to release its weekly report for the week ended November 9 at 4:30PM ET (2130GMT), amid expectations of an increase of about 2.0 million barrels. If confirmed, it would be the ninth straight weekly climb in domestic crude supplies.
U.S. futures were down 29 cents, or roughly 0.5% at $56.91 a barrel.
International futures fell 54 cents, or 0.8%, to $66.25 per barrel.
5. Bitcoin Sinks To 13-Month Low as Crypto Plunge Continues
Bitcoin , extending its recent decline to the lowest level in more than a year, as a selloff in cryptocurrencies intensified across the board.
, the world's most valuable digital currency was down around 16% at $4,555.10 on the Bitfinex exchange, after falling to as low as $4,411.00, its weakest level since October 2017.
Other cryptocurrencies also fell sharply.
, the world’s second largest cryptocurrency by market cap, was trading at $0.45055, down roughly 5% for the day
Meanwhile, , the third largest coin, sank 15.3% to $134.11, its worst level since May 2017.
Other major digital currencies like , , and also suffered heavy losses.

Source: Investing

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