After Hours Report

The stock market extended this week's losses, reflecting ongoing profit-taking after last week's record highs and a huge run since the start of the year. The three major indices spent most of the morning near their prior closing levels before selling picked up in the afternoon. 

The S&P 500 (-0.3%), Nasdaq Composite (-0.3%), and Dow Jones Industrial Average (-0.4%) settled near their worst levels of the day. Downside moves in the major indices coincided with some mega caps reversing early gains. NVIDIA (NVDA 135.07, -3.74, -2.7%), Amazon.com (AMZN 225.04, -1.05, -0.5%), and Eli Lilly (LLY 799.58, -4.00, -0.5%) were among the influential laggards after a big year of gains. NVDA shares are 171.7% higher in 2024, AMZN shares are 48.1% higher since the start of the year, and LLY shares sit on a 37.2% gain.  

Significant moves were reserved for stocks with specific catalysts. Oracle (ORCL 177.74, -12.71, -6.7%) declined nearly 7% after a disappointing fiscal Q2 earnings report, missing the consensus EPS estimate compiled by FactSet, and issuing lower-than-expected guidance for fiscal Q3. 

Conversely, Alaska Air (ALK 61.29, +7.13, +13.2%) surged after announcing an impressive three-year strategic plan during its Investor Day, alongside fiscal year 2025 EPS guidance that exceeded current consensus expectations. Alphabet (GOOG 186.53, +9.43, +5.3%) rose as much as 6.2% at its peak after unveiling its new Willow quantum computing chip. Also, Piper Sandler named the stock to a "Top Pick."

Kroger (KR 60.73, +2.96, +5.1%) was another story stock, jumping after a report indicating that Kroger's M&A deal with Albertson's (ACI 18.51, -0.43, -2.3%) was blocked by a judge.

The lackluster performance of the major indices reflected a sense of caution ahead of tomorrow's release of the November Consumer Price Index at 8:30 ET. Treasury yields edged higher in anticipation of the report. The 10-yr yield settled two basis points higher at 4.22% and the 2-yr yield settled two basis points higher at 4.15%.

• Nasdaq Composite: +31.2% YTD
• S&P 500: +26.5% YTD
• S&P Midcap 400: +18.4% YTD
• Russell 2000: +17.6% YTD
• Dow Jones Industrial Average: +17.4% YTD

Reviewing today's economic data: 

• November NFIB Small Business Optimism 101.7; Prior 93.7
• Q3 Productivity-Rev. 2.2% (Briefing.com consensus 2.2%); Prior 2.2%, Q3 Unit Labor Costs-Rev. 0.8% (Briefing.com consensus 1.9%); Prior 1.9%
  • The key takeaway from the report is the inflation-friendly indicator of unit labor costs rising in more modest proportions in the third quarter.

Wednesday's economic lineup includes:

• 7:00ET: Weekly MBA Mortgage Index (prior 2.8%)
• 8:30 ET: November CPI (Briefing.com consensus 0.3%; prior 0.2%) and Core CPI (Briefing.com consensus 0.3%; prior 0.3%)
• 10:30 ET: Weekly crude oil inventories (prior -5.07 mln)
• 14:00 ET: November Treasury Budget (prior -$257.0 bln)

Overseas:

• Europe: DAX +0.0%, FTSE -0.8%, CAC -1.1%
• Asia: Nikkei +0.6%, Hang Seng -0.5% Shanghai +0.6%

Commodities:

• Crude Oil +0.13 @ 68.59
• Nat Gas -0.01 @ 3.17
• Gold +32.60 @ 2718.00
• Silver +0.12 @ 32.72
• Copper unchanged @ 4.27

After-Hours Spotlight:

• Dave & Buster's (PLAY) misses on EPS, misses on revs, comps -7.7%; CEO Chris Morris resigns; Chairman Kevin Sheehan will also serve as interim CEO... PLAY down 10.9%
• GameStop (GME) reports Q3 (Oct) results, misses on revs (two ests)... GME up 2.5%
• General Motors (GM) to realign its autonomous driving strategy; GM will no longer fund Cruise's robotaxi development work; will raise its ownership in Cruise to more than 97% vs 90% now... GM up 3.2%
• GE Vernova (GEV) reaffirms FY24 revenue and free cash flow guidance, raises FY25 revenue guidance, but still below consensus, and raises 2028 outlook; Approves initial $6.0 bln share repurchase authorization... GEV down 2.7%
• Joby Aviation (JOBY) enters into Equity Distribution Agreement under which it may sell up to an aggregate of $300 mln of shares of its common stock offering... JOBY down 9.4%
• Q32 Bio (QTTB) Provides Bempikibart Program Update, Including Next Steps for Advancing Alopecia Areata Development Program... QTTB down 66.3%
• Stitch Fix (SFIX) beats by $0.09, beats on revs; guides JanQ revs above consensus; raises FY25 revenue and EBITDA guidance... SFIX up 22.6%

Fair Value for Wednesday, Dec 11:

• S&P 500: 6,044
• Nasdaq 100: 21,400
• DJIA: 44,319

For a full rundown of today's market and after hours developments, see Live In Play

• Earnings/Guidance (Full Earnings Calendar):
  • Academy Sports + Outdoors (ASO) misses by $0.30, misses on revs; guides FY25 EPS below consensus, revs below consensus; authorizes new $700 mln share repurchase program
  • Alaska Air (ALK) lays out three-year strategic plan at Investor Day; sees FY25 EPS above expectations
  • ASE Technology (ASX) reports November revs declined 2.9% yr/yr to ~NT$52.93 bln
  • AutoZone (AZO) misses by $1.04, reports revs in-line, same store sales of +1.8% in constant currency
  • Berry Petroleum (BRY) reaffirms FY24 guidance in investor presentation; provides FY25 outlook
  • Braze (BRZE) beats by $0.03, beats on revs; guides Q4 EPS above consensus, revs in-line
  • Byrna Technologies (BYRN) reports prelim Q4 (Nov) revs of $28 mln vs. $24.32 mln FactSet Consensus
  • C3.ai (AI) beats by $0.10, beats on revs; guides Q3 revs in-line; guides FY25 revs in-line
  • Casey's General (CASY) beats by $0.56, misses on revs, inside same-store sales of +4.0%; Sees FY25 EBITDA increasing by at least 10%, inclusive of Fikes acquisition
  • ChipMOS TECHNOLOGIES (IMOS) reports Nov revs declined 2.1% yr/yr to ~$56.4 mln
  • Citizens Financial Group (CFG) in slide presentation says its premier private bank is expected to be profitable in Q4; expects 5% earnings contribution in 2025; well positioned to deliver 16-18% ROTCE over the medium term
  • Comerica (CMA) provides investor updates in presentation; discusses BSBY cessation impacts - majority of losses expected to accrete back in 2025 and 2026
  • Designer Brands (DBI) misses by $0.08, misses on revs; guides FY25 EPS below consensus, revs below consensus
  • Ferguson plc (FERG) misses by $0.17, reports revs in-line; reaffirms FY25 revs guidance
  • G-III Apparel (GIII) beats by $0.31, reports revs in-line; guides FY25 EPS above consensus, revs slightly below consensus
  • HealthEquity (HQY) beats by $0.06, beats on revs; guides FY25 EPS in-line, revs above consensus; guides FY26 revs below consensus
  • Kinder Morgan (KMI) releases 2025 financial expectations; projects EPS above consensus
  • Ligand Pharma (LGND) reaffirms FY24 guidance and introduces FY25 guidance ahead of Investor and Analyst Day
  • MongoDB (MDB) beats by $0.48, beats on revs; guides Q4 EPS above consensus, revs above consensus
  • Ollie’s Bargain Outlet (OLLI) beats by $0.01, reports revs in-line; reaffirms FY25 EPS guidance, guides FY25 revs below consensus
  • Oracle (ORCL) misses by $0.01, reports revs in-line; guides FebQ EPS and revs below consensus, FX having an impact
  • Patria Investments outlined (PAX) outlook for key financial measures and metrics targeted to be achieved through 2027
  • Phreesia (PHR) beats by $0.02, reports revs in-line; guides FY25 revs in-line; guides FY26 revs in-line
  • Planet Labs (PL) beats by $0.03, misses on revs; guides Q4 revs below consensus
  • Sirius XM (SIRI) provides update on strategic direction, sharpening focus on core audience; sees FY25 revenue slightly below consensus
  • Super Group (SGHC) raises FY24 revenue guidance, declares $0.15/sh special dividend
  • Taiwan Semiconductor Manufacturing (TSM) reports November revs increased 34.0% yr/yr to ~NT$276.06 bln
  • T-Mobile US (TMUS) reaffirms positive growth momentum at investor conference
  • Toll Brothers (TOL) beats by $0.29, beats on revs, Delivered homes up 25%; Guides for Q1 Deliveries of 1,900-2,100 units
  • United Natural Foods (UNFI) beats by $0.18, beats on revs; Raises FY25 EPS and revenue guidance
  • Vail Resorts (MTN) beats by $0.38, beats on revs; reaffirms FY25 Resort Reported EBITDA guidance
  • Voya Financial (VOYA) expects loss ratio for January 2024 policy year to increase between 90% and 105%; result of claims experience through November 30, 2024 continuing to be adverse relative to expectations
  • Yext (YEXT) reports EPS in-line, revs in-line; guides FY25 revs in-line
  • Zeta Global (ZETA) reaffirmed its revenue and Adjusted EBITDA guidance
  • Zuora (ZUO) beats by $0.04, reports revs in-line; as previously announced, to be acquired by Silver Lake
• General News
  • Chinese President Xi has full confidence in growth targets this year, according to Reuters
  • President-elect Trump spoke with Florida Governor Ron Desantis about appointing Lara Trump to Senate seat held by Marco Rubio, who will be Secretary of State, according to the Wall Street Journal
  • Brazilian President Luiz Inacio Lula da Silva in intensive care following brain surgery, according to Bloomberg
  • AbbVie (ABBV) multiple myeloma treatment (small molecule inhibitor of B-cell lymphoma 2 / Bcl-2 protein) granted orphan designation
  • Agilent (A) announces the issuing of a Class C companion diagnostic In Vitro Diagnostic Regulation certification for PD-L1 IHC 28-8 pharmDx
  • AllianceBernstein (ALB) aiming to file lawsuit against Switzerland over decision to wipe out Credit Suisse (UBS) debt, according to Financial Times
  • Apollo Global Management (APO) amended its insider trading policy to permit certain Apollo and Athene senior leaders to enter into prepaid variable forward contracts or substantially similar transactions
  • Apple (AAPL) aiming to bring satellite communications to Apple Watch next year, according to Bloomberg
  • Bank of N.T. Butterfield & Son (NTB) approves $100 mln repurchase program
  • Barrick (GOLD) looking for potential buyer for its Ivory Coast Mine, according to Bloomberg
  • BeiGene (BGNE) advances leadership in CLL at ASH 2024 with New Data From Its Hematology Franchise Including BRUKINSA and Novel Pipeline Assets
  • Biomea Fusion (BMEA) Announces Preliminary Data from Ongoing COVALENT-103 Study of Investigational Covalent FLT3 Inhibitor BMF-500 in Relapsed or Refractory Acute Leukemia
  • BMW Group (BMWKY) announces Nicolas Peter will be proposed for election to the Supervisory Board at the 2025 Annual General Meeting
  • Boeing (BA) restarted 737 Max production 30 days following end of strike, according to Reuters
  • Boeing (BA) reports YTD deliveries of 318 units; 427 gross orders; 370 orders after cancellations and conversions
  • Borr Drilling (BORR) receives new contract worth $58 mln
  • Bristol Myers Squibb (BMY) Highlights Progress of Cell Therapy Portfolio at ASH 2024 with Long-Term Survival Data and Results from Expanding Pipeline
  • Broadridge Financial (BR) announces launch of AI-powered algorithm insights service for NYFIX
  • Buckle (BKE) authorized a $2.50 per share special cash dividend to be paid to shareholders of record at the close of business on January 15, 2025
  • Cardiff Oncology (CRDF) announces positive initial data from first-line RAS-mutated mCRC clinical trial
  • Carter Bank & Trust (CARE) will acquire deposits associated with First Reliance Bank’s (OTC: FSRL) two branches in Mooresville and Winston-Salem, as well as First Reliance Bank’s Winston-Salem branch facility
  • Celanese (CE) appoints Scott Richardson, currently the company's Chief Operating Officer, as new Chief Executive Officer; Lori Ryerkerk stepping down as Chairman, CEO and director of Celanese at the end of the year
  • Citigroup (C) CEO Jane Fraser in interview sees weakness in Eurozone, according to Bloomberg
  • Cohen & Steers (CNS) reports prelim AUM of $91.4 bln for November 2024, up $1.7 bln or 1.9% from October 2024
  • Crane (CR) promotes Alejandro (Alex) Alcala to COO, effective immediately
  • Dover (DOV) CFO Brad Cerepak to retire on Jan 31, 2025; Chris Woenker named new CFO
  • Eco Wave Power Global AB (WAVE) has entered into a securities purchase agreement with a single institutional investor to purchase 300,000 American Depositary Shares, each representing eight common shares of the Company, at a public offering price of $10.00 per ADS for gross proceeds of $3.0 mln
  • Eli Lilly (LLY) approves new $15.0 bln share repurchase program and announces 15% increase in quarterly dividend to $1.50/share
  • Eli Lilly (LLY) reports Phase 3 results for Lilly's Jaypirca (pirtobrutinib) in covalent BTK inhibitor pre-treated chronic lymphocytic leukemia or small lymphocytic lymphoma to be presented at the 2024 ASH Annual Meeting
  • Eli Lilly (LLY) David Ricks says obesity medications will be tested for treatment of alcohol and drug addition, according to Stat News
  • Fortuna (FSM) updates Mineral Reserves and Mineral Resources for the Séguéla Mine, Côte d'Ivoire
  • Gilead Sciences (GILD): Longest Follow-Up Data Reported for Kite’s Tecartus® CAR T-Cell Therapy at ASH 2024 Reinforce Durable Efficacy and Survival Benefits
  • Gilead Sciences (GILD): Kite’s Yescarta Only CAR T-Cell Therapy to Show Durable Response and Long-Term Survival After Five Years in Patients With Relapsed/Refractory Non-Hodgkin Lymphomas at ASH 2024
  • Heidrick & Struggles (HSII) announces appointment of Nirupam Sinha as Chief Financial Officer, effective January 6, 2025
  • Heritage Insurance (HRTG) authorizes a new repurchase plan of $10.0 mln
  • HII (HII) and Job Corps partner to build careers at Ingalls Shipbuilding
  • Hooker Furniture (HOFT) announced the retirement of Paul A. Huckfeldt, Chief Financial Officer and Senior Vice President-Finance and Accounting, effective February 2, 2025
  • IBM (IBM) brings the speed of light to the generative AI era with optics breakthrough
  • IDEAYA (IDYA) Announces First-Patient-In for Phase 1 Clinical Trial Evaluating IDE161 in Combination with KEYTRUDA® (pembrolizumab) in Patients with Endometrial Cancer
  • Incyte (INCY) announces additional results from the pivotal Phase 3 inMIND trial evaluating treatment with tafasitamab, a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody, in combination with lenalidomide and rituximab compared with placebo plus lenalidomide and rituximab in patients with relapsed or refractory follicular lymphoma
  • Instacart (CART) and CaringBridge have partnered to allow easier community-led support for groceries and essentials for family caregivers and their loved ones
  • Intuit (INTU) and Amazon (AMZN) announce multi-year strategic partnership; QuickBooks to become AMZN's preferred partner for financial management
  • Invesco (IVZ) reports prelim November 2024 AUM of $1,856.5 bln, an increase of 4.8% versus previous month-end
  • Johnson & Johnson (JNJ) reports CARVYKTI (ciltacabtagene autoleucel) demonstrated significantly higher rates of minimal residual disease (MRD) negativity compared to standard therapies in the CARTITUDE-4 study
  • Keros Therapeutics (KROS) Presents Clinical Data from its Elritercept Program at the 66th American Society of Hematology Annual Meeting and Exposition
  • Krystal Biotech (KRYS) provides update on EMA’s ongoing regulatory review of B-VEC; asks co to submit written responses to the remaining outstanding issues
  • L3Harris (LHX): State Department has made a determination approving a possible Foreign Military Sale to the Government of Kuwait
  • Lazard (LAZ) reports November 2024 assets under management
  • Legend Biotech (LEGN): CARVYKTI Significantly Improved Minimal Residual Disease Negativity Compared to Standard of Care for Patients with Relapsed or Refractory Multiple Myeloma
  • LiveOne (LVO) announces an exclusive audio advertising partnership with DAX, a leading digital advertising platform in the United States
  • Lockheed Martin (LMT) and the Missile Defense Agency successfully completed Flight Experiment Mission
  • Markel Group (MKL): Jana Partners has taken a stake in MKL and wants company to consider separation or sale of its private investments unit, according to Bloomberg
  • MasterCraft (MCFT) announces partnership with General Motors (GM), naming Chevrolet Silverado its official truck & tow vehicle
  • Matthews International (MATW) responds to Barington Capital and affirms board and management’s focus on driving long-term value creation
  • Metagenomi (MGX) Presents Updated Preclinical Data in Hemophilia A at American Society of Hematology (ASH) 66th Annual Meeting
  • Meta Platforms (META): EU aiming to investigate teen advertising deals at Meta and Google (GOOG, GOOGL), according to Financial Times
  • Meta Platforms (META) releases blog titled "Test content with non-followers using trial reels"
  • Micron (MU): White House issues statement from Vice President Kamala Harris on CHIPS and Science Act investments in Micron Technology
  • Moderna (MRNA): FDA releases briefing documents for RSV vaccines
  • MongoDB (MDB) announced that Michael Gordon, MongoDB's Chief Operating Officer and Chief Financial Officer, will be stepping down at the end of FY25
  • Nanobiotix (NBTX) announces completion of the dose escalation and dose expansion parts of Phase 1 study evaluating radiotherapy-activated NBTXR3 (JNJ-1900) for patients with locally advanced pancreatic cancer
  • Netflix (NFLX) and Mastercard (MA) announce partnership to connect people’s passion for entertainment to real-world events
  • Northrop Grumman (NOC) awarded $801 mln U.S. Air Force contract
  • Novartis AG (NVS) announces results from an updated analysis of the pivotal Phase III NATALEE trial of Kisqali (ribociclib) that underscore the extended efficacy beyond the duration of treatment in combination with endocrine therapy
  • Nurix Therapeutics (NRIX) Presents New Positive Data from Phase 1a/1b Clinical Trial of NX-5948 in Chronic Lymphocytic Leukemia at the 66th American Society of Hematology Annual Meeting
  • Olema Pharmaceuticals (OLMA) presents updated clinical results for Palazestrant in combination with ribociclib at the San Antonio Breast Cancer Symposium
  • Orla Mining (ORLA) expands high-grade mineralization 800 metres beyond current resource in extension drilling at Camino Rojo, Mexico
  • PACCAR (PCAR) increases quarterly cash dividend 10% to $0.33/share from $0.30/share
  • Pacific Premier (PPBI) reports that the Office of the Comptroller of the Currency has approved Pacific Premier Bank’s application to convert from a California-chartered bank to a national banking association
  • Phillips 66 (PSX) is teaming up with a subsidiary of NextEra Energy Resources (NFE) to power Phillips 66’s Rodeo Renewable Energy Complex with a 30.2 megawatt solar facility
  • PureCycle Technologies (PCT) provides updates for 2025 in investor presentation
  • Recursion (RXRX) Reports Interim Phase 1 Clinical Data for REC-617 Monotherapy, a Potential Best-in-Class CDK7 Inhibitor, With Encouraging Patient Response and Favorable Tolerability
  • Regeneron Pharma (REGN) reports Odronextamab ASH Presentations Underscore Impressive Potential in Earlier Lines of Treatment and Additional Types of Lymphoma
  • Roadzen (RDZN) has partnered with Motive, the AI-powered Integrated Operations Platform, to provide roadside assistance and towing services to Motive’s customer base that spans more than one million vehicles
  • Sangamo Therapeutics (SGMO) disclosed that Pfizer (PFE) presented detailed data from the Phase 3 AFFINE trial of giroctocogene fitelparvovec, an investigational gene therapy that Sangamo has co-developed with and licensed to Pfizer for the treatment of adults with moderately severe to severe hemophilia A, in an oral presentation
  • SIGA Technologies (SIGA): NIH study finds tecovirimat was safe but did not improve mpox resolution or pain
  • Solaris Energy Infrastructure (SEI) announces the pricing of its underwritten public offering of 6,500,000 shares of its Class A common stock at a public offering price of $24.75/share, for total net proceeds of ~$156 mln
  • Super Micro Computer (SMCI) CEO Charles Liang in interview is confident the stock will not get delisted, according to Reuters
  • Take-Two (TTWO): LoopMe acquired Chartboost from Take-Two's Zynga; Financial details of the transaction were not disclosed
  • Teekay Group (TK) Announces Changes to Boards of Directors
  • Teleflex (TFX) expands the Pressure Injectable Arrowg+ard Blue Plus CVC portfolio in Europe, the Middle East and Africa
  • Tesla (TSLA) resumes New Delhi showroom plans, according to Reuters
  • Trinseo (TSE) enters into transaction support agreement to extend debt maturities and increase liquidity
  • U.S. Steel (X): Nippon Steel announces closing bonus for U. S. Steel Employees
  • UBS AG (UBS) to give more attention to clients that are not ultrawealthy for wealth division, according to WSJ
  • United Healthcare (UNH): Luigi Mangione charged with murder of United Healthcare executive Brian Thompson, according to NBC News
  • Vestis (VSTS): Apollo (APO) among buyout firms interested in VSTS, according to Reuters
  • VIAVI (VIAV) and Windstream Wholesale collaborate on World’s first transatlantic 800G Network Trial
  • WaFd, Inc.(WAFD)  provides investor updates in presentation - discusses 2025 vision with digital focus
  • Walgreens Boots Alliance (WBA) could be sold to Sycamore, according to WSJ
  • Workday (WDAY): DISA Global Solutions has achieved Workday Design Approved Integration status

Ratings Changes (see Upgrades/Downgrades calendar for full list):

• Upgrades:
  • American Airlines (AAL) upgraded to Outperform from Mkt Perform at Bernstein; tgt raised to $24
  • General Motors (GM) upgraded to Equal-Weight from Underweight at Morgan Stanley; tgt raised to $54
  • Granite Point Mortgage (GPMT) upgraded to Mkt Perform from Underperform at Keefe Bruyette; tgt raised to $3.25
  • Travelers (TRV) upgraded to Buy from Hold at HSBC Securities; tgt $290
  • UPS (UPS) upgraded to Outperform from Market Perform at BMO Capital Markets; tgt lowered to $150
  • Victoria's Secret (VSCO) upgraded to Neutral from Sell at UBS; tgt raised to $47
  • Vimeo (VMEO) upgraded to Overweight from Neutral at Piper Sandler; tgt raised to $10
• Downgrades:
  • Applied Optoelectronics (AAOI) downgraded to Sell from Neutral at B. Riley Securities
  • Centene (CNC) downgraded to Underperform from Hold at Jefferies; tgt lowered to $52
  • Crown Castle (CCI) downgraded to Underweight from Equal Weight at Wells Fargo; tgt lowered to $100
  • D.R. Horton (DHI) downgraded to Mkt Perform from Outperform at Keefe Bruyette; tgt lowered to $183
  • eBay (EBAY) downgraded to Underperform from Hold at Jefferies; tgt lowered to $52
  • IAC Inc. (IAC) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $54
  • Pinterest (PINS) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $36
  • Progressive (PGR) downgraded to Hold from Buy at HSBC Securities; tgt $267
  • Toll Brothers (TOL) downgraded to Mkt Perform from Outperform at Keefe Bruyette; tgt lowered to $164
• Others:
  • AT&T (T) initiated with an Outperform at Oppenheimer; tgt $28
  • Birkenstock Holding Plc (BIRK) resumed with an Overweight at Piper Sandler; tgt $65
  • Hologic (HOLX) initiated with a Hold at Jefferies; tgt $85
  • Jacobs Solutions (J) resumed with a Neutral at Goldman; tgt $150
  • Labcorp Holdings Inc. (LH) resumed with a Buy at Jefferies; tgt raised to $275
  • Myriad Genetics (MYGN) initiated with a Neutral at UBS; tgt $18
  • Quest Diagnostics (DGX) resumed with a Buy at Jefferies; tgt raised to $185
  • T-Mobile US (TMUS) initiated with a Mkt Perform at Bernstein; tgt $265
  • Verizon (VZ) initiated with a Mkt Perform at Bernstein; tgt $48

• Econ Data (Wednesday):
  • 7:00ET: Weekly MBA Mortgage Index (prior 2.8%)
  • 8:30 ET: November CPI (Briefing.com consensus 0.3%; prior 0.2%) and Core CPI (Briefing.com consensus 0.3%; prior 0.3%)
  • 10:30 ET: Weekly crude oil inventories (prior -5.07 mln)
  • 14:00 ET: November Treasury Budget (prior -$257.0 bln)
• Treasury Auctions:
  • 13:00 ET: $39 bln 10-yr Treasury note reopening results
• Earnings:
  • Monday (Dec 9)
    • Pre-Market: MOMO
    • After-Hours: BRZE AI CASY MDB ORCL PHR TOL MTN YEXT
  • Tuesday (Dec 10)
    • Pre-Market: ASO AZO DBI FERG GIII OLLI UNFI
    • After-Hours: PLAY GME SFIX
  • Wednesday (Dec 11)
    • Pre-Market: CGNT PLAB REVG
    • After-Hours: ADBE NDSN OXM
  • Thursday (Dec 12)
    • Pre-Market: CIEN LOVE
    • After-Hours: AVGO COST RH
  • Friday (Dec 13)
    • Pre-Market: None
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike