US stock markets are looking for direction at the start of the second trading day for this week. Futures on the leading indexes register slight gains in early trading after yesterday the indexes closed in another negative trading day, the Dow Jones lost 0.1% while the Nasdaq lost about 1%. The retail companies continue with the reports in the early trade with a variety of reports from different industries.
Bond yields are down slightly today as they continue to trade around the same rates as last week, the 10-year bond yield is at 3.79%. Central bank spokesmen continue to be hawkish in their statements in their war against inflation. Cleveland Fed President Loretta Mester stated “that there is more work to be done, and we need to see inflation on a sustainable path of falling towards 2%”.
Ukraine is suffering from the latest war as it enters the harsh winter of Eastern Europe, with infrastructure destroyed by the attacks of the Russian army on power stations and other infrastructure. Large parts are without electricity and the fear is about the cold of winter and the spread of diseases.
In Europe, slight increases in the leading indices, the DAX and KAC rise 0.1%, the UK strengthens with an increase of 0.6%.
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Zoom Video (ZM) is losing 9% in early trading after it released after-hours reports yesterday that beat forecasts. Growth in the last quarter slowed significantly and the company provided a weak forecast for the fourth quarter.
Agilent (A) is up 4% after posting good reports yesterday that exceeded forecasts in the last quarter.
Best Buy (BBY) jumps 7.5% in early trading after reports that beat forecasts for the third quarter of the year. The company provides a good forecast for the holiday season and sales.
The discount chain for sports products “Dix” (DKS) loses 3% in early trading after the reports that exceeded the forecasts for the third quarter of the year.
Dollar Fresh (DLTR) is losing 4% in early trade after beating forecasts but providing a weak outlook for the rest of the year and the holiday season.
Fashion chain Abercrombie & Fitz ( ANF ) soared 15% in early trading after reports it showed a surprising profit versus an expected loss. The company notes that there is demand for its products into the holiday season.