Welcome Back,

Markets turn red as we await tomorrow’s latest inflation print at 8 am EST.

Presented by Trendspider:

Market Headlines 👀 

• US President Biden set to meet with China leader Xi this week in San Francisco.

• US shutdown risk lingers as Congress funding runs out this Friday if a new deal is not in place.

• Moodys (MCO) updates it credit rating on the US to negative.

• Nvidia (NVDA) unveils its latest chip the H200 to help train AI models.

• Amazon (AMZN) cuts 180+ jobs in its gaming division and shuts Twitch channel.

• Etherium (ETH) hits an 18 month high crossing $2k for the first time since April.

• Boeing (BA) lands a deal worth $52b for new jets from the UAE.

• Novo Nordisk (NVO) drug Wegovy has show positive results in its ability to reduce heart disease.

Earnings 💸

• Monday.com (MNDY)

  • EPS: $0.64 beats (exp. $0.21)

  • Revenue: $189.2m beats (exp. $182.5m)

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S&P 500 Heatmap

Recap Around the Street 🧠

High expectations of a dovish print particularly with the drop in gasoline prices and the rollover in used car prices. The issue is super core (core services ex shelter) which remains stubbornly elevated despite the slowdown in wage growth. BLS calculation of heath insurance costs will also boost core services but this adjustment will not necessarily impact core PCE (the Fed’s preferred measure) as medical insurance costs are calculated differently than from CPI.(Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

CPI estimates from the street!

Market Preview 🎞️

• Tuesday, November 14th: Consumer Price Index CPI

• Tuesday earnings: Sea Limited (SE), Home Depot (AMC), and Paysafe (PSFE)

• Wednesday, November 15th: MBA mortgage applications; Price Producer Index PPI; Retail sales; President Biden and Xi meeting; Empire manufacturing survey

• Wednesday earnings: Target (TGT), Paloalto Networks (PANW), JD.com (JD), and Cisco (CSCO)

• Thursday, November 16th: Weekly jobless claims

• Thursday earnings: Alibaba Group (BABA), Walmart (WMT), Applied Materials (AMAT) and Macys (M)

• Friday, November 17th: Monthly options expiration (OPEX); Housing starts; Building permits

• —> Podcast spotlight: Pounding the Table 👊 : listen now; where you will find in-depth analysis around these highlights, read company deep dives, and interviews with public CEO's!

Enjoy reading?👇

That’s all for today, folks! We’ll be back around the same time Wednesday with a curated list of important news, economic data and market highlights. 

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