On November 22, 2024, stock market futures opened slightly lower as investors reacted to mixed earnings reports and economic data. The Nasdaq 100 futures fell by approximately 0.2%, while Dow and S&P 500 futures were down around 0.1%. Key companies such as Gap and Intuit made headlines in premarket trading, influencing overall market sentiment.
- Stocks open little changed today.
- Intuit shares drop 3% on earnings miss.
- Gap stock surges 20% after outlook upgrade.
- Piper Sandler downgrades Sunrun amid uncertainty.
- Texas Pacific Land to join S&P 500.
- Stock futures open slightly lower on Thursday.
Stocks are experiencing fluctuations as the market reacts to various earnings reports and economic indicators. Gap Inc. saw a significant increase in its stock price, climbing over 20% after the company raised its full-year sales forecast for the third time this year. This optimism contrasts with Intuit, which reported a 3% drop in its stock following a disappointing earnings guidance that fell short of analyst expectations.
In premarket trading, several companies were notable for their movements:
- Gap’s stock surged over 20% after increasing its sales outlook.
- Intuit’s shares fell approximately 3% due to a forecast of $2.55 to $2.61 per share, missing the expected $3.25.
- Flutter Entertainment’s stock rose more than 1% after receiving a buy rating from Goldman Sachs.
Despite early losses, analysts remain optimistic about a potential rebound. Adam Crisafulli from Vital Knowledge noted that the declines in futures were more reflective of thin liquidity than negative News, suggesting a recovery may be likely. Additionally, the market is on track for a positive week, with the Nasdaq Composite up 1.56%, the S&P 500 up 1.33%, and the Dow up 0.98% week to date.
Overall, the stock market is navigating a complex landscape with mixed signals from earnings reports and economic data. While some companies like Gap are thriving, others face challenges, indicating a varied market environment as the week progresses.
