Key Takeaways
- U.S. equities lost ground at midday on Tuesday, Nov. 21, 2023 as several retailers warned about consumer demand heading into the key holiday shopping period.
- Best Buy and Lowe's cut their full-year outlooks as customers pulled back on spending.
- The price of gold moved above $2,000 an ounce, sending shares of Newmont Corporation and Freeport-McMoRan higher.
U.S. equi𒉰ties were down at midday as a string of retailers warned about consumer spending heading into the key holiday shopping season. The Dow, 🔯S&P 500, and Nasdaq all fell.
Best Buy (BBY) shares declined after the electronics retailer 澳洲幸运5官方开奖结果体彩网:said customer demand was “uneven” and hard to predict, as it reduced its full-year forecast. Lowe’s (LOW) also 澳洲幸运5官方开奖结果体彩网:lowered its outlook, as consumers pulled back on do-it-yourself projectꦦs.
Shares of Jacobs Solutions (J) plunged after the professional services provider announced it was 澳洲幸运5官方开奖结果体彩网:spinning off its Critical Missions Solutions and Cyber & Intelligence government services businesses andﷺ🌸 merging them with government and commercial services contractor Amentum into a separate, publicly traded firm.
Shares of miners Newmont Corporation (NEM) and Freeport-McMoRan (FCX) advancꦦed as the price of gold crossed $2,000 an ounce.
Agilent Technologies (A) shares jumped after the maker of laboratory equipment beat profit and s♎ales estimates as two of its three divisions posted higher revenue despite what CEO Mike McMullen called a “challenging year for the industry.”
Tesla (TSLA) s🌳hares gained as the electric vehicle maker started delivering its Cybertruck to showrooms.
Oil futures declined. The yield on the 10-year Treasury note was down. The U.S. dollar was up on the euro, but lower versus the pound and yen. Most major cryptocurrencies traded in negative territory.
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