Investors are awaiting today's release of the Personal Consumption Expenditures (PCE) inflation report for October, which is expected to show increasing price pressures; U.S. stock futures are little changed as investors await economic data and the Thanksgiving holiday; Dell (DELL) stock is plummeting in premarket trading after the computer maker's quarterly revenue missed estimates; CrowdStrike (CRWD) shares are moving lower after it swung to an unexpected loss; HP (HPQ) stock is dropping after the PC and printing company's earnings 🎃fo🎃recast for the current quarter was lower than analysts had projected. Here's what investors need to know today.
1. PCE Inflation Data Seen Having⛎ Moved Higher in October
Economists are projecting that today's 10 a.m. ET release of the PCE report will 澳洲幸运5官方开奖结果体彩网:likely show annual inflation rose to 2.3% in October, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. The increase from 2.1% in September would keep the inflation rate above the 澳洲幸运5官方开奖结果体彩网:Federal Reserve's target, which could complicate the central bank's plans to 澳洲幸运5官方开奖结果体彩网:gradually lower interest rates as price pressures ease. "Core" inflation, which excludes volatile price♊s for food and 🎶energy, is expected to have risen 2.8% over the year, up from 2.7% in September.
2. US Stock Futures Little Changed Ahead of Thanksgivinཧg Holiday
Stock futures are little changed as investors await economic data and prepare for 澳洲幸运5官方开奖结果体彩网:Thanksgiving market closures tomorrow. After the 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average set another 澳洲幸运5官方开奖结果体彩网:record closing high in the prior sꦉession, the index's futures are flat, while those of the Nasdaq and the 澳洲幸运5官方开奖结果体彩网:S&P 500—itself having posted a new record-high close Tuesday—are slightly lower. In addition to the inflation report, investors are also 澳洲幸运5官方开奖结果体彩网:watching for updated data on third-quarter 澳洲幸运5官方开奖结果体彩网:Gross Domestic Product (GDP), pending home sales, and business inventories. Bitcoin (BTCUSD) is up about 1% to tr♉ade above $93,000. Gold and crude futures also are higher, while 10-year Treasury yields are lower.
3. Dell Stock Tumbles as Revenue Falls Shoཧrt of Estimates
Dell Technologies (DELL) 澳洲幸运5官方开奖结果体彩网:stock is sinking more than 11% in premarket trading Wednesday, a day after the computer and server maker reported quarterly sales that 澳洲幸运5官方开奖结果体彩网:fell short of forecasts. The company delivered revenue of $24.4 billion, a 10% rise year-over-year but below the consensus estimate of analysts surveyed by Visible Alpha. Its net income of $1.13 billion or $1.58 per share also rose and beat estimates. Server and networking revenue soared 58% to $7.36 billion, driven in part by demand for 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) servers.
4. CrowdStrike Stock Dips After Cybersecu♋rity Firm Swings to Loss
CrowdStrike Holdings (CRWD) stock is falling 3.5% in premarket trading after the 澳洲幸运5官方开奖结果体彩网:cybersecurity fi𒀰rm reported an unexpected loss for the third quarter on increased expenses. The company posted a loss of $16.8 million or 7 cents per share from a profit of $26.7 million or 11 cents per share last year, falling short of Visible Alpha consensus estimates. Its revenue of $1.01 billion was up 29% year-over-year and above expectations. The results come as CrowdStrike continues to deal with costs tied to the fallout from a 澳洲幸运5官方开奖结果体彩网:faulty software update in July that affected Microsoft (MSFT) Windows-based systems across the world and🔯 led to the grounding of thousands of flights.
5. HP💞 Stock Drops After Current-Quarter Earnings Outlook Falls Short
HP (HPQ) stock is sinking nearly 9% in premarket trading after the computer and printer maker forecast 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of 57 cents to 63 cents for the current fiscal quarter, 澳洲幸运5官方开奖结果体彩网:below consensus of 72 cents. The company saw its fourth-quarter revenue grow 1.7% year-over-year to $14.1 billion, higher than the Visible Alpha consensus. Net income came in at $900 million or 93 cents per share, compared to $1 billion or 97 cents per share a year ago, also above estimates.