Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 14, 2024. REUTERS/Brendan McDermid
Brendan Mcdermid | Reuters
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Here’s what CNBC TV’s producers were watching during the rebound and what’s on the radar for the next session.
Inflation in the USA
Two days of key data kick-off Tuesday at 8:30 a.m. ET with the producer price index, which looks at inflation from the wholesaler’s side of the equation. Economists predict the number was up 0.2% in July from the prior month. Wednesday we will get CPI, the consumer price index, also at 8:30 a.m. ET. The S&P 500 is down more than 5% from its high on July 16. The Nasdaq 100 is off about 10% from the July 10 high. The Dow Jones Industrial Average has fallen about 5% from its July 18 high.
Gold
Home Depot
The home improvement (and more) giant reports quarterly numbers before the bell. The stock is flat since last reporting three months ago. Home Depot is 13% from the stock’s March high.
Boeing
The airline maker reports July orders and deliveries tomorrow morning. The stock is down about 10% since the last report a month ago. Boeing is down 38.6% from its 52-week high in December.
Nvidia’s rebound
Seema Mody will report on Nvidia’s recent move. The stock was up 4.1% today and it’s up 8.5% in five sessions. Nvidia remains 22.5% from the 52-week high it hit on June 20.
The other six of the ‘Magnificent Seven’
Meta is 5% from its July 8 high. Apple is 8.3% from its July 15 high. Microsoft is 13% from its July 5 high. Alphabet is 15.3% from its July 10 high. Amazon is 17% from its July 8 high. Tesla is 29% from its Sept. 15 high.
Tesla vs. China
CNBC’s Eunice Yoon, who reports from China, will look at Tesla’s Chinese competitors tomorrow. All the big ones are down in August, over the last month and three months. Li Auto is down 27% in three months; the stock is 58% from its Feb. 27 high. Xpeng is down 25% in one month, and is 67% from its Sept. 1 high. BYD is down 13% in a month, 17% below its 52-week high. Zeekr is down 26% in a month, and has fallen 55% since its May 13 high. Nio is down 26% in three months, and has tumbled 71% since its 52-week high nearly a year ago.
13F filings
CNBC will be checking on the stocks the biggest fundrunners in the country are buying and selling. The 13F filings to the Securities and Exchange Commission, which make these disclosures, start tomorrow. One filing that many pay attention to is Warren Buffett’s Berkshire Hathaway. BRK.A is up 19% so far in 2024 and up 4% in three months.
Overall, the stock market is experiencing fluctuations and uncertainties due to various economic factors such as inflation, company earnings reports, and global competition. Investors and traders are closely monitoring these developments to make informed decisions and navigate the volatile market conditions. Stay tuned for more updates and insights on the latest trends in the financial world.
