Stock Market Today: Stocks bounce higher with inflation data in focus
Wall Street will navigate a series of data releases tied to inflation this week as bond markets continue their months-long selloff.
Wall Street will navigate a series of data releases tied to inflation this week as bond markets continue their months-long selloff.
Sales declined sharply following expiry of tax discounts.
UnitedHealth Group is slated to report fourth quarter earnings before the market opens Thursday. Analysts are generally bullish ahead of the results.
Turmoil in Europe's car sector could hit the central European economy and hurt banks' asset quality, S&P Global said on Tuesday, although it added that lenders were strong enough to withstand stress in their automotive portfolios. Automakers across Europe have announced plant closures and big layoffs as they struggle with weak demand, high costs, competition from China and a slower-than-expected transition to electric vehicles. The sector is a mainstay of central Europe's economic growth, accounting for 5% to 10% of the region's gross domestic product and 5% of its employment, according to S&P.
S&P Global Ratings revised Nissan Motor's credit outlook to negative from stable and affirmed its BB+ rating, as it expected it would take the Japanese automaker longer to improve its business performance. "The negative outlook reflects our view that the company's creditworthiness will continue to deteriorate if profitability does not improve and positive free cash flow is not secured," S&P said in a statement. Nissan has increased sales incentives in a bid to correct high inventory levels, which have risen due to a slowdown in car sales in North America, the company's main market, S&P said.
Falling electric vehicle (EV) sales in Germany dealt a “devastating” blow to the European market last year, as Chinese carmakers powered ahead of rivals in the West.
A monthlong stock market decline sparked by surging bond yields could be interrupted by strong 4th quarter earnings.
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Energy stocks have surged 5% so far this year, outpacing the S&P 500 index's 1% loss after lagging the market for the last two years.
The benchmark index on Monday fell below its closing level on November 5, wiping out the Trump bump.