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Top Stock Market News For Today November 1, 2021

Stock index futures moving higher as earnings season continues.
The post Top Stock Market News For Today November 1, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Stock Market Futures Pointing To A Positive Start For November 

Stock market futures edged higher in early Monday morning as investors awaited fresh earnings. Corporate earnings so far continue to demonstrate resilience amid global supply chain concerns. Meanwhile, Treasury Secretary Janet Yellen expressed confidence in the economy’s recovery from the pandemic. This week, a lot of the attention will also be on the upcoming Fed meeting on Tuesday and Wednesday. The central bank is widely expected to announce that it will begin to taper its $120 billion monthly bond purchases and conclude the program by the middle of next year.

Depending on where you are looking, you are getting very different stories on the outlook for global markets. If you look at equities and the rally you are seeing, you think everything is OK. If you look at the bond market and how yields are moving, there’s obviously a lot more concern around inflation and policy normalization.”- Kerry Craig, Global Market Strategist at JPMorgan Asset Management

On the economic front, the Census Bureau reports construction spending data for September at 2 p.m. ET today. At the same time, the Institute for Supply Management will be releasing its Manufacturing Purchasing Managers Index for October. As of 6:51 a.m. ET, the Dow, S&P 500, and Nasdaq futures are increasing by 0.45%, 0.44%, and 0.41% respectively.

China EV Deliveries In Focus 

Early Monday in China, Xpeng (NYSE: XPEV) announced its vehicle delivery results for October 2021. The Chinese smart electric vehicle (EV) maintained its strong momentum in October with a total of 10,138 Smart EVs delivered. This represents a 233% increase year-over-year and the second month surpassing the 10,000 unit benchmark. And that’s an impressive feat considering we are all in the midst of a global semiconductor shortage. 

Meanwhile, Li Auto (NASDAQ: LI) announced that it delivered 7,649 Li ONEs in October 2021, increasing by 107.2% year-over-year. Finally, Nio (NYSE: NIO) delivered just 3,667 vehicles in October 2021. That represents a decline of 27.5% year-over-year. This came as a result of restructuring and upgrades of manufacturing lines as well as certain supply chain volatilities. Also, the Chinese EV trio are due to report their third-quarter earnings in the coming weeks. Like Tesla (NASDAQ: TSLA), they seem to have managed the pandemic-fueled global chip shortage relatively well. All three startups beat their own guidance for Q3 EV deliveries, after lowering delivery expectations over the course of the quarter.

Meanwhile, BYD (OTCMKTS: BYDDF) is likely to report October sales later this week. The Chinese EV and battery giant’s sales are proving especially robust. In September, BYD’s EV and plug-in hybrid sales rose by roughly 10,000 for the fourth straight month, topping 70,000. With Musk calling his China EV rivals “the most competitive in the world”, it wouldn’t hurt to keep an eye on these Chinese EV stocks moving forward.

[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know

American Airlines (AAL) Cancels More Than 1,500 Flights Over The Weekend

American Airlines (NASDAQ: AAL) has canceled more than 1,500 flights since Friday. The airline blamed staff shortages and bad weather for the disruption. It’s the latest mass flight disruption to face travelers as some carriers struggle to handle a rebound in travel demand. Many airlines, including American, are trying to staff up again to match the demand. This would minimize any potential disruption coming their way, especially during the upcoming holiday season.

“With additional weather throughout the system, our staffing begins to run tight as crew members end up out of their regular flight sequences,” said American’s COO David Seymour. He said that most customers were rebooked the same day and that he expects the operation to stabilize in November.

Recall that Southwest Airlines (NYSE: LUV) have also posted mass flight cancellations earlier this month. In detail, it cancelled more than 2,000 flights, costing it $75 million. Separately, Spirit Airlines (NYSE: SAVE) said the cancelations and delays cost it $50 million earlier in August. Now, there’s no doubt American Airlines would face losses of similar magnitude. But Seymour is confident that more team members will be in place for the holiday season as many flight attendants are returning this month. 

[Read More] Top Reddit Stocks To Buy Right Now? 5 For Your Late 2021 Watchlist

Diamondback Energy Earnings On Tap After The Stock Market Closes Today

Diamondback Energy (NASDAQ: FANG) which posted stellar results in the previous quarter, is set to report another period of explosive growth. Fueling such momentum is the combination of the high oil prices and the strong earnings from the oil giants last week. Be it ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX) or Saudi Aramco, these oil giants are seeing their profits soaring amid surging oil and gas prices. 

For starters, Diamondback Energy is a land-based U.S. E&P that has operations primarily in the Permian Basin. About 60% of its production is oil, another 20% is in natural gas and the remaining is in natural gas liquids. Although the company has been struggling to keep its earnings in positive territory. Many believe this shouldn’t be a problem moving forward, as global energy demand kicks into high gear. 

Analysts are calling for earnings per share of $2.65, more than tripling from earnings per share (EPS) of $0.62 in the year-ago period. Revenue is forecast to surge about 111% year-over-year to $1.52 billion, boosted by soaring crude oil and natural gas prices. Beyond these figures, investors will also be watching on the company’s production targets for the year ahead after increasing 36% in the second quarter. With skyrocketing energy prices, it will be interesting to see how these translate to movements in FANG stock. 

[Read More] Top Stocks To Buy Now? 4 Renewable Energy Stocks For Your Watchlist

Notable Earnings To Watch In The Stock Market Today

As we kick start the first trading week of November, investors’ focus remains on corporate earnings results. For those keen to catch companies reporting before the opening bell, there is no shortage of names to note. The list includes ON Semiconductor Corp (NASDAQ: ON), PG&E Corp. (NYSE: PCG) and Trivago (NASDAQ: TRVG), just to name a few. 

Alternatively, if you are looking to track earnings after the closing bell, there are several on tap as well. These include the likes of Diamondback Energy, Clorox (NYSE: CLX), Chegg (NYSE: CHGG) and Avis Budget Group (NASDAQ: CAR) among others. Whether it is keeping up with Chinese EV delivery numbers or following earnings, investors seem to have plenty of exciting news to consider and digest as we begin another week filled with earnings.

The post Top Stock Market News For Today November 1, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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United Airlines adds new flights to faraway destinations

The airline said that it has been working hard to "find hidden gem destinations."

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Since countries started opening up after the pandemic in 2021 and 2022, airlines have been seeing demand soar not just for major global cities and popular routes but also for farther-away destinations.

Numerous reports, including a recent TripAdvisor survey of trending destinations, showed that there has been a rise in U.S. traveler interest in Asian countries such as Japan, South Korea and Vietnam as well as growing tourism traction in off-the-beaten-path European countries such as Slovenia, Estonia and Montenegro.

Related: 'No more flying for you': Travel agency sounds alarm over risk of 'carbon passports'

As a result, airlines have been looking at their networks to include more faraway destinations as well as smaller cities that are growing increasingly popular with tourists and may not be served by their competitors.

The Philippines has been popular among tourists in recent years.

Shutterstock

United brings back more routes, says it is committed to 'finding hidden gems'

This week, United Airlines  (UAL)  announced that it will be launching a new route from Newark Liberty International Airport (EWR) to Morocco's Marrakesh. While it is only the country's fourth-largest city, Marrakesh is a particularly popular place for tourists to seek out the sights and experiences that many associate with the country — colorful souks, gardens with ornate architecture and mosques from the Moorish period.

More Travel:

"We have consistently been ahead of the curve in finding hidden gem destinations for our customers to explore and remain committed to providing the most unique slate of travel options for their adventures abroad," United's SVP of Global Network Planning Patrick Quayle, said in a press statement.

The new route will launch on Oct. 24 and take place three times a week on a Boeing 767-300ER  (BA)  plane that is equipped with 46 Polaris business class and 22 Premium Plus seats. The plane choice was a way to reach a luxury customer customer looking to start their holiday in Marrakesh in the plane.

Along with the new Morocco route, United is also launching a flight between Houston (IAH) and Colombia's Medellín on Oct. 27 as well as a route between Tokyo and Cebu in the Philippines on July 31 — the latter is known as a "fifth freedom" flight in which the airline flies to the larger hub from the mainland U.S. and then goes on to smaller Asian city popular with tourists after some travelers get off (and others get on) in Tokyo.

United's network expansion includes new 'fifth freedom' flight

In the fall of 2023, United became the first U.S. airline to fly to the Philippines with a new Manila-San Francisco flight. It has expanded its service to Asia from different U.S. cities earlier last year. Cebu has been on its radar amid growing tourist interest in the region known for marine parks, rainforests and Spanish-style architecture.

With the summer coming up, United also announced that it plans to run its current flights to Hong Kong, Seoul, and Portugal's Porto more frequently at different points of the week and reach four weekly flights between Los Angeles and Shanghai by August 29.

"This is your normal, exciting network planning team back in action," Quayle told travel website The Points Guy of the airline's plans for the new routes.

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Walmart launches clever answer to Target’s new membership program

The retail superstore is adding a new feature to its Walmart+ plan — and customers will be happy.

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It's just been a few days since Target  (TGT)  launched its new Target Circle 360 paid membership plan. 

The plan offers free and fast shipping on many products to customers, initially for $49 a year and then $99 after the initial promotional signup period. It promises to be a success, since many Target customers are loyal to the brand and will go out of their way to shop at one instead of at its two larger peers, Walmart and Amazon.

Related: Walmart makes a major price cut that will delight customers

And stop us if this sounds familiar: Target will rely on its more than 2,000 stores to act as fulfillment hubs. 

This model is a proven winner; Walmart also uses its more than 4,600 stores as fulfillment and shipping locations to get orders to customers as soon as possible.

Sometimes, this means shipping goods from the nearest warehouse. But if a desired product is in-store and closer to a customer, it reduces miles on the road and delivery time. It's a kind of logistical magic that makes any efficiency lover's (or retail nerd's) heart go pitter patter. 

Walmart rolls out answer to Target's new membership tier

Walmart has certainly had more time than Target to develop and work out the kinks in Walmart+. It first launched the paid membership in 2020 during the height of the pandemic, when many shoppers sheltered at home but still required many staples they might ordinarily pick up at a Walmart, like cleaning supplies, personal-care products, pantry goods and, of course, toilet paper. 

It also undercut Amazon  (AMZN)  Prime, which costs customers $139 a year for free and fast shipping (plus several other benefits including access to its streaming service, Amazon Prime Video). 

Walmart+ costs $98 a year, which also gets you free and speedy delivery, plus access to a Paramount+ streaming subscription, fuel savings, and more. 

An employee at a Merida, Mexico, Walmart. (Photo by Jeffrey Greenberg/Universal Images Group via Getty Images)

Jeff Greenberg/Getty Images

If that's not enough to tempt you, however, Walmart+ just added a new benefit to its membership program, ostensibly to compete directly with something Target now has: ultrafast delivery. 

Target Circle 360 particularly attracts customers with free same-day delivery for select orders over $35 and as little as one-hour delivery on select items. Target executes this through its Shipt subsidiary.

We've seen this lightning-fast delivery speed only in snippets from Amazon, the king of delivery efficiency. Who better to take on Target, though, than Walmart, which is using a similar store-as-fulfillment-center model? 

"Walmart is stepping up to save our customers even more time with our latest delivery offering: Express On-Demand Early Morning Delivery," Walmart said in a statement, just a day after Target Circle 360 launched. "Starting at 6 a.m., earlier than ever before, customers can enjoy the convenience of On-Demand delivery."

Walmart  (WMT)  clearly sees consumers' desire for near-instant delivery, which obviously saves time and trips to the store. Rather than waiting a day for your order to show up, it might be on your doorstep when you wake up. 

Consumers also tend to spend more money when they shop online, and they remain stickier as paying annual members. So, to a growing number of retail giants, almost instant gratification like this seems like something worth striving for.

Related: Veteran fund manager picks favorite stocks for 2024

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President Biden Delivers The “Darkest, Most Un-American Speech Given By A President”

President Biden Delivers The "Darkest, Most Un-American Speech Given By A President"

Having successfully raged, ranted, lied, and yelled through…

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President Biden Delivers The "Darkest, Most Un-American Speech Given By A President"

Having successfully raged, ranted, lied, and yelled through the State of The Union, President Biden can go back to his crypt now.

Whatever 'they' gave Biden, every American man, woman, and the other should be allowed to take it - though it seems the cocktail brings out 'dark Brandon'?

Tl;dw: Biden's Speech tonight ...

  • Fund Ukraine.

  • Trump is threat to democracy and America itself.

  • Abortion is good.

  • American Economy is stronger than ever.

  • Inflation wasn't Biden's fault.

  • Illegals are Americans too.

  • Republicans are responsible for the border crisis.

  • Trump is bad.

  • Biden stands with trans-children.

  • J6 was the worst insurrection since the Civil War.

(h/t @TCDMS99)

Tucker Carlson's response sums it all up perfectly:

"that was possibly the darkest, most un-American speech given by an American president. It wasn't a speech, it was a rant..."

Carlson continued: "The true measure of a nation's greatness lies within its capacity to control borders, yet Bid refuses to do it."

"In a fair election, Joe Biden cannot win"

And concluded:

“There was not a meaningful word for the entire duration about the things that actually matter to people who live here.”

Victor Davis Hanson added some excellent color, but this was probably the best line on Biden:

"he doesn't care... he lives in an alternative reality."

*  *  *

Watch SOTU Live here...

*   *   *

Mises' Connor O'Keeffe, warns: "Be on the Lookout for These Lies in Biden's State of the Union Address." 

On Thursday evening, President Joe Biden is set to give his third State of the Union address. The political press has been buzzing with speculation over what the president will say. That speculation, however, is focused more on how Biden will perform, and which issues he will prioritize. Much of the speech is expected to be familiar.

The story Biden will tell about what he has done as president and where the country finds itself as a result will be the same dishonest story he's been telling since at least the summer.

He'll cite government statistics to say the economy is growing, unemployment is low, and inflation is down.

Something that has been frustrating Biden, his team, and his allies in the media is that the American people do not feel as economically well off as the official data says they are. Despite what the White House and establishment-friendly journalists say, the problem lies with the data, not the American people's ability to perceive their own well-being.

As I wrote back in January, the reason for the discrepancy is the lack of distinction made between private economic activity and government spending in the most frequently cited economic indicators. There is an important difference between the two:

  • Government, unlike any other entity in the economy, can simply take money and resources from others to spend on things and hire people. Whether or not the spending brings people value is irrelevant

  • It's the private sector that's responsible for producing goods and services that actually meet people's needs and wants. So, the private components of the economy have the most significant effect on people's economic well-being.

Recently, government spending and hiring has accounted for a larger than normal share of both economic activity and employment. This means the government is propping up these traditional measures, making the economy appear better than it actually is. Also, many of the jobs Biden and his allies take credit for creating will quickly go away once it becomes clear that consumers don't actually want whatever the government encouraged these companies to produce.

On top of all that, the administration is dealing with the consequences of their chosen inflation rhetoric.

Since its peak in the summer of 2022, the president's team has talked about inflation "coming back down," which can easily give the impression that it's prices that will eventually come back down.

But that's not what that phrase means. It would be more honest to say that price increases are slowing down.

Americans are finally waking up to the fact that the cost of living will not return to prepandemic levels, and they're not happy about it.

The president has made some clumsy attempts at damage control, such as a Super Bowl Sunday video attacking food companies for "shrinkflation"—selling smaller portions at the same price instead of simply raising prices.

In his speech Thursday, Biden is expected to play up his desire to crack down on the "corporate greed" he's blaming for high prices.

In the name of "bringing down costs for Americans," the administration wants to implement targeted price ceilings - something anyone who has taken even a single economics class could tell you does more harm than good. Biden would never place the blame for the dramatic price increases we've experienced during his term where it actually belongs—on all the government spending that he and President Donald Trump oversaw during the pandemic, funded by the creation of $6 trillion out of thin air - because that kind of spending is precisely what he hopes to kick back up in a second term.

If reelected, the president wants to "revive" parts of his so-called Build Back Better agenda, which he tried and failed to pass in his first year. That would bring a significant expansion of domestic spending. And Biden remains committed to the idea that Americans must be forced to continue funding the war in Ukraine. That's another topic Biden is expected to highlight in the State of the Union, likely accompanied by the lie that Ukraine spending is good for the American economy. It isn't.

It's not possible to predict all the ways President Biden will exaggerate, mislead, and outright lie in his speech on Thursday. But we can be sure of two things. The "state of the Union" is not as strong as Biden will say it is. And his policy ambitions risk making it much worse.

*  *  *

The American people will be tuning in on their smartphones, laptops, and televisions on Thursday evening to see if 'sloppy joe' 81-year-old President Joe Biden can coherently put together more than two sentences (even with a teleprompter) as he gives his third State of the Union in front of a divided Congress. 

President Biden will speak on various topics to convince voters why he shouldn't be sent to a retirement home.

According to CNN sources, here are some of the topics Biden will discuss tonight:

  • Economic issues: Biden and his team have been drafting a speech heavy on economic populism, aides said, with calls for higher taxes on corporations and the wealthy – an attempt to draw a sharp contrast with Republicans and their likely presidential nominee, Donald Trump.

  • Health care expenses: Biden will also push for lowering health care costs and discuss his efforts to go after drug manufacturers to lower the cost of prescription medications — all issues his advisers believe can help buoy what have been sagging economic approval ratings.

  • Israel's war with Hamas: Also looming large over Biden's primetime address is the ongoing Israel-Hamas war, which has consumed much of the president's time and attention over the past few months. The president's top national security advisers have been working around the clock to try to finalize a ceasefire-hostages release deal by Ramadan, the Muslim holy month that begins next week.

  • An argument for reelection: Aides view Thursday's speech as a critical opportunity for the president to tout his accomplishments in office and lay out his plans for another four years in the nation's top job. Even though viewership has declined over the years, the yearly speech reliably draws tens of millions of households.

Sources provided more color on Biden's SOTU address: 

The speech is expected to be heavy on economic populism. The president will talk about raising taxes on corporations and the wealthy. He'll highlight efforts to cut costs for the American people, including pushing Congress to help make prescription drugs more affordable.

Biden will talk about the need to preserve democracy and freedom, a cornerstone of his re-election bid. That includes protecting and bolstering reproductive rights, an issue Democrats believe will energize voters in November. Biden is also expected to promote his unity agenda, a key feature of each of his addresses to Congress while in office.

Biden is also expected to give remarks on border security while the invasion of illegals has become one of the most heated topics among American voters. A majority of voters are frustrated with radical progressives in the White House facilitating the illegal migrant invasion. 

It is probable that the president will attribute the failure of the Senate border bill to the Republicans, a claim many voters view as unfounded. This is because the White House has the option to issue an executive order to restore border security, yet opts not to do so

Maybe this is why? 

While Biden addresses the nation, the Biden administration will be armed with a social media team to pump propaganda to at least 100 million Americans. 

"The White House hosted about 70 creators, digital publishers, and influencers across three separate events" on Wednesday and Thursday, a White House official told CNN. 

Not a very capable social media team... 

The administration's move to ramp up social media operations comes as users on X are mostly free from government censorship with Elon Musk at the helm. This infuriates Democrats, who can no longer censor their political enemies on X. 

Meanwhile, Democratic lawmakers tell Axios that the president's SOTU performance will be critical as he tries to dispel voter concerns about his elderly age. The address reached as many as 27 million people in 2023. 

"We are all nervous," said one House Democrat, citing concerns about the president's "ability to speak without blowing things."

The SOTU address comes as Biden's polling data is in the dumps

BetOnline has created several money-making opportunities for gamblers tonight, such as betting on what word Biden mentions the most. 

As well as...

We will update you when Tucker Carlson's live feed of SOTU is published. 

Tyler Durden Fri, 03/08/2024 - 07:44

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