In the coming week, investors will be monitoring a spate of economic data, including the U.S. Exports, Imports, Trade Balance, Wholesale Inventories, Crude Oil Inventories, Initial Jobless Claims, and Michigan Consumer Sentiment (preliminary).
In addition, several Fed officials will be making appearances this week, including Cook, Waller, Williams, Logan, and Jefferson.
In other news, oil rose over +1% after Saudi Arabia and Russia reaffirmed their commitment to maintaining production cuts until the end of the year.
The U.S. economic data slate is mainly empty on Monday. However, investors will likely focus on the release of the Federal Reserve Senior Loan Officer Opinion Survey.
December S&P 500 futures are up +0.21%, and December Nasdaq 100 E-Mini futures are up +0.25% this morning as market participants looked ahead to more corporate earnings reports and Federal Reserve Chair Jerome Powell’s speech later in the week.
In the bond markets, United States 10-year rates are at 4.591%, up +0.75%.
Pre-Market U.S. Stock Movers
Tesla Inc (NASDAQ:TSLA) climbed more than +2% in pre-market trading following a Reuters report indicating the company’s plans to produce a new, more affordable electric car model in Germany.
Gamida Cell Ltd (NASDAQ:GMDA) surged over +4% in pre-market trading after presenting new data on the impact of the company’s proprietary nicotinamide technology on its allogeneic stem cell therapy omidubicel and investigational natural killer cell therapy candidate GDA-201.
Lucid Group Inc (NASDAQ:LCID) rose more than +1% in pre-market trading after the company reduced the price of its Air luxury sedans for a limited time ahead of the upcoming holiday season.
Bank of America Corp (NYSE:BAC) gained about +0.8% in pre-market trading after Keefe Bruyette upgraded the stock to Market Perform from Underperform.
Nutrien Ltd (NYSE:NTR) fell nearly -1% in pre-market trading after JPMorgan downgraded the stock to Neutral from Overweight.
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Analyst Recommendations
Albemarle Corporation: Morgan Stanley maintains its underweight recommendation with a price target reduced from $155 to $90.
Amazon: Baptista Research maintains its outperform recommendation with a price target reduced from $170.30 to $169.30.
Amphenol: Baptista Research maintains its hold recommendation with a price target reduced from $96.40 to $91.
Apple: Phillip Securities upgrades to accumulate from neutral with a price target raised from $183 to $194.
Arista networks: Evercore ISI maintains its outperform recommendation and raises the target price from $210 to $230.
Ball: Barclays maintains its overweight recommendation with a price target raised from $59 to $60.
Bank Of America: Keefe Bruyette & Woods upgrades to market perform from underperform with a price target raised from $29 to $30.
Block: Macquarie maintains its outperform rating and reduces the target price from $95 to $85.
Coinbase: Cowen maintains its underperform recommendation and raises the target price from $36 to $39.
EQT: Jefferies maintains its buy recommendation with a price target raised from $52 to $54.
Expedia Group: Jefferies maintains its hold recommendation with a price target raised from $110 to $120.
Exxon Mobil: Gerdes Energy Research LLC maintains its neutral recommendation with a price target raised from $122 to $123.
Ford Motor: Evercore ISI maintains its in-line recommendation with a price target reduced from $11 to $10.
Fortinet: HSBC downgrades to hold from buy with a price target reduced from $75 to $49.
Idexx laboratories: Piper Sandler & Co maintains its overweight recommendation with a target price raised from $520 to $525.
Kraft Heinz: Mizuho Securities maintains its buy recommendation and reduces the target price from $47 to $43.
Lowe’s Companies: Baird maintains its outperform rating and reduces the target price from $250 to $225.
Mastercard: Baptista Research maintains its hold recommendation with a price target reduced from $439.30 to $425.70.
Mondelez international: Mizuho Securities maintains its buy recommendation and reduces the target price from $86 to $83.
Moody’s Corporation: Baptista Research downgrades to underperform from hold with a price target reduced from $381 to $343.
Paypal: Phillip Securities maintains its buy recommendation and raises the target price from $98 to $101.
Roper Technologies: Baptista Research maintains its hold recommendation with a price target reduced from $545.50 to $541.
Sempra: BMO Capital Markets maintains its market perform recommendation with a price target raised from $75 to $76.
Starbucks: Stifel maintains its hold recommendation with a price target raised from $100 to $108.
Stryker: Barclays maintains its overweight recommendation and raises the target price from $335 to $341.
Teradyne: Baptista Research upgrades to buy from hold with a price target reduced from $123.40 to $113.90.
The Home Depot: Baird maintains its outperform rating and reduces the target price from $360 to U$330.
Ventas: BMO Capital Markets maintains its outperform rating and raises the target price from $46 to $50.
Walt Disney: Citi maintains its buy recommendation with a price target reduced from $120 to $110.
Welltower: BMO Capital Markets maintains its outperform rating and raises the target price from $92 to $96.
Zoetis: Piper Sandler & Co maintains its overweight recommendation with a price target raised from $210 to $215.
Don’t Trade Without Seeing The Orderbook
Today’s U.S. Earnings Spotlight: Monday – November 6th
Vertex (VRTX), Itau Unibanco (ITUB), NXP (NXPI), Constellation Energy (CEG), Realty Income (O), Diamondback (FANG), Coterra Energy (CTRA), IFF (IFF), Celanese (CE), Aspen (AZPN), Essential Utilities (WTRG), Shockwave Medical (SWAV), TIM Participacoes (TIMB), CCC Intelligent Solutions Holdings (CCCS), Coherent (COHR), Fabrinet (FN), FS KKR Capital (FSK), Ryman Hospitality Properties (RHP), AAON (AAON), Halozyme (HALO), Viper Energy Ut (VNOM), Affiliated Managers (AMG), Teradata (TDC), Hilton Grand Vacations (HGV), Air Lease (AL), Cabot Corp (CBT), Tidewater (TDW), Goodyear Tire & Rubber Co (GT), Kosmos Energy (KOS), Guardant Health (GH), Stepstone (STEP), Sabra (SBRA), Knife River (KNF), Crane NXT (CXT), American States Water (AWR), Sanmina (SANM), DISH Network (DISH), Freshpet Inc (FRPT), CNO Financial (CNO), Albany (AIN), Ringcentral Inc (RNG), Tanger Factory Outlet Centers (SKT), Enovis (ENOV), ICU Medical (ICUI), Revolution Med (RVMD), Treehouse Foods (THS), ACV Auctions (ACVA), Sterling Construction (STRL), Alteryx (AYX), Highpeak Energy Acquisition (HPK), Crescent Energy (CRGY), Tripadvisor (TRIP), Mueller Water Products (MWA), Par Pacific Holdings (PARR), NeoGenomics (NEO), Talos Energy (TALO), Paymentus (PAY), EverCommerce (EVCM), AssetMark (AMK), Tecnoglass (TGLS), V2X Inc (VVX), Ameresco (AMRC), CoreCivic (CXW), Janus International Group (JBI), Air Transport Services (ATSG), Veeco (VECO), TransMedics (TMDX), Alphatecs (ATEC), Hims Hers Health (HIMS), Diamond Offshore Drilling (DO), EchoStar (SATS), Service Properties (SVC), Phinia (PHIN), Rover (ROVR), Jeld-Wen Holding (JELD), Skyward Specialty Insurance (SKWD), Opko Health (OPK), Bain Capital Specialty Finance (BCSF), Apartment Invest (AIV).