S&P 500 tumbled again on Tuesday with a loss of 1.8%, as economic growth
concerns weighed, especially on energy, retail, and technology stocks.
Tuesday's losses wiped out yearly gains for the benchmark index, which is now
down 1.2% in 2018. The Dow Jones Industrial Average lost 2.2%, the Nasdaq
Composite lost 1.7%, and the Russell 2000 lost 1.8%.
Companies scheduled to report earnings this afternoon: ESL, KEYS, QADA, SE, ADSK, GPS, FL, BILI, BJ, CAL, CPRT.
Futures are lower after hours: S&P 500 futures are -1.11 vs. 2,643 fair value and Nasdaq 100 futures are -9.04 vs. 6,536 fair value.
Tomorrow morning, economic reports scheduled to be released include:
- 7:00am ET: MBA Mortgage Applications Index (Consensus NA vs. -3.2% in the prior week)
- 8:30am ET: Durable Orders (Consensus -2.6% vs. 0.8% in the prior month), Durable Goods --ex transportation (Consensus 0.4% vs. 0.1% in the prior month), Initial Claims (Consensus 215K vs. 216K in the prior week), Continuing Claims (Consensus NA vs. 1676K in the prior week)
Tomorrow before the open the following companies are scheduled to report
earnings: AVYA, BZUN, DE, CMCM, DAKT, QD, SFUN, MOV.
Looking over at the energy space:
The American Petroleum Institute released its weekly oil storage data. API petroleum data for the week ended November 16:
- Crude Inventories had a draw of -1.545 million barrels
- Prior week had a build of +8.790 million barrels
- Gasoline Inventories had a build of +0.706 million barrels
- Prior week had a build of +0.188 million barrels
- Distillate Inventories had a draw of -1.832 million barrels
- Prior week had a draw of -3.224 million barrels
- Cushing had a build of +0.398 million barrels
- Prior week had build of +0.726 million barrels