Market Overview - The current market is experiencing a broad selloff, affecting stocks, cryptocurrencies, and precious metals, indicating a widespread decline across various asset classes [1][2]. - Cryptocurrencies have seen a cumulative loss of $1.2 trillion recently, with Bitcoin briefly dropping below $90,000, leading to further liquidations in Asian markets [2][4]. Stock Performance - The SPDR S&P 500 ETF (SPY) is undergoing its longest selloff since August, reflecting negative sentiment in the equity markets [4]. - Home Depot Inc. (HD) reported third-quarter earnings that missed expectations, with adjusted earnings per share at $3.74, falling short of the average estimate by $0.10. The company also revised its full-year forecast, projecting a 5% decline in EPS year-over-year, which is more than double the previous forecast of a 2% decline [6]. Key Company Focus - Nvidia Corp. (NVDA) is set to report earnings, with investors keenly watching for any signs of a slowdown in revenue or profit growth. The company has over $500 billion in chip orders for 2025 and 2026, which could influence market sentiment if positive [5].

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Core Viewpoint - Home Depot's recent quarterly results showed lower-than-expected profits and same-store sales, attributed to a weak overall real estate market and reduced demand due to events like storms [1][5] Financial Performance - Q3 revenue increased by 2.8% year-over-year to $41.4 billion, slightly above market expectations [1] - Same-store sales grew by only 0.2%, falling short of the anticipated 1.4% [1] - Adjusted operating profit for Q3 was $5.35 billion, with an adjusted operating margin of 13.0% [5] - Adjusted non-GAAP earnings per share were $3.74, below market expectations of $3.83 and down from $4.67 year-over-year [5] - The company lowered its full-year earnings forecast, now expecting a 5% decline in adjusted earnings per share compared to the previous guidance of a 2% decline [5] Market Conditions - The U.S. real estate market remains stagnant, with high living costs and economic concerns hindering home purchases [6][7] - High interest rates have led many households to abandon plans for home buying and renovations, opting instead for smaller projects [7] - The company is experiencing its first sales slowdown in a decade, impacted by tariffs and rising costs [7] Consumer Behavior - Approximately 90% of Home Depot's DIY customers own their homes, but consumers across all income levels are hesitant to undertake large investment projects [6] - The company noted a decline in customer transactions, with a 1.6% drop in same-store transaction volume, while the average transaction value increased by 1.8% [1][5] - Despite a positive outlook for holiday shopping, overall consumer confidence is affected by high interest rates and employment issues [9]

Core Points - U.S. stock futures are lower, with Dow futures down approximately 200 points [1] - Helmerich and Payne Inc reported a fourth-quarter loss of 1 cent per share, with quarterly sales of $1.012 billion, exceeding analyst expectations of $973.678 million [1] - Helmerich and Payne shares fell 7% to $25.69 in pre-market trading [1] Company Movements - Alpha Technology Group Ltd shares decreased by 19% to $17.50 after a significant surge of 132% on Monday [4] - Invivyd Inc shares fell 13.4% to $2.46 following the announcement of a $125 million public offering [4] - Nice Ltd shares dropped 7.3% to $112.00 after a 9% decline on the previous day [4] - H World Group Ltd shares fell 6.7% to $41.95 despite reporting better-than-expected third-quarter results [4] - Fulcrum Therapeutics Inc shares decreased by 6.6% to $9.01 after a 12% gain on Monday [4] - Rocket Pharmaceuticals Inc shares declined 6% to $2.86 [4] - OBOOK Holdings Inc shares fell 5.6% to $7.53 [4] - Iperionx Ltd shares decreased by 5% to $33.00 [4] - Home Depot Inc shares slipped 2% to $351.01 after reporting worse-than-expected third-quarter adjusted EPS and lowering FY25 adjusted EPS outlook [4]

Core Viewpoint - Home Depot's stock fell 4% after reporting third quarter results that missed forecasts and lowered its full-year outlook due to a sluggish US housing market [1][2] Financial Performance - Adjusted earnings per share for the third quarter were $3.74, missing forecasts of $3.84, while revenue was $41.4 billion, exceeding expectations of $41 billion [2] - Full-year adjusted earnings per share are now expected to decline by 5%, a sharper drop than the previously anticipated 2% decline [2] Sales Performance - Same-store sales increased by 0.2% overall and 0.1% in the US, falling short of the expected 1.3% increase for the third quarter [3] - CEO Ted Decker attributed the disappointing results to a lack of storms in the third quarter, which exerted unexpected pressure on certain product categories [3] Market Conditions - The housing market remains under pressure, with high mortgage rates causing many Americans to remain in their current homes, impacting demand for large-scale renovation projects [3][4] - Economic uncertainty, driven by living costs and job concerns, is affecting consumer confidence and home improvement demand [4]

Core Viewpoint - Home Depot reported quarterly earnings of $3.74 per share, missing the Zacks Consensus Estimate of $3.81 per share, representing an earnings surprise of -1.84% [1] - The company posted revenues of $41.35 billion for the quarter, surpassing the Zacks Consensus Estimate by 0.88% and showing a year-over-year increase from $40.22 billion [2] Financial Performance - Home Depot's earnings of $3.74 per share compare to $3.78 per share a year ago, indicating a slight decline [1] - The company has surpassed consensus revenue estimates three times over the last four quarters, while it has only exceeded EPS estimates once in the same period [2] Stock Performance - Home Depot shares have declined approximately 8% since the beginning of the year, contrasting with the S&P 500's gain of 13.4% [3] - The current Zacks Rank for Home Depot is 3 (Hold), suggesting that the stock is expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.89 on revenues of $37.99 billion, and for the current fiscal year, it is $14.96 on revenues of $164.12 billion [7] - The estimate revisions trend for Home Depot was mixed ahead of the earnings release, indicating potential changes in expectations following the report [6] Industry Context - The Retail - Home Furnishings industry, to which Home Depot belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, highlighting the importance of tracking these revisions [5]

Market Overview - US stock index futures are all down ahead of the market opening, with Dow futures down 0.68%, S&P 500 futures down 0.57%, and Nasdaq futures down 0.72% [1] - European indices also show declines, with Germany's DAX down 1.40%, UK's FTSE 100 down 1.37%, France's CAC40 down 1.42%, and the Euro Stoxx 50 down 1.46% [2][3] - WTI crude oil is up 0.02% at $59.87 per barrel, while Brent crude oil is down 0.05% at $64.17 per barrel [4] Economic and Monetary Policy Insights - Analysts warn of a potential market correction as the S&P 500 index closes below its 50-day moving average for the first time in 139 trading days, breaking a record for the second-longest period above this trend line in the century [4] - The Nasdaq also falls below its 50-day moving average, ending the longest streak since October 1995, with more stocks hitting 52-week lows than highs, indicating weak market internals [4] - Federal Reserve Vice Chair Jefferson emphasizes a cautious approach to further rate cuts, citing a softening job market and recent easing inflation risks [5] - UBS predicts a strong likelihood of a rate cut in December, despite internal disagreements within the Federal Reserve [6] Oil Market Forecast - Goldman Sachs warns of a continued decline in oil prices until 2026 due to a supply surplus of approximately 2 million barrels per day, forecasting Brent crude at $56 per barrel and WTI at $52 per barrel by 2026 [7][8] Company-Specific Developments - Apple (AAPL.US) sees a 37% increase in iPhone 17 sales in China, regaining a 20% market share, indicating strong consumer response to new models [9] - Google (GOOGL.US) CEO warns of irrational factors in the current AI market, suggesting that no company, including Google, is immune to potential market corrections [9] - Arm (ARM.US) partners with Nvidia (NVDA.US) to integrate NVLink technology into its Neoverse platform, enhancing collaboration in AI data center chips [9] - Home Depot (HD.US) reports Q3 sales of $41.35 billion, with same-store sales growth of only 0.2%, below expectations [10] - Axalta (AXTA.US) announces a merger with AkzoNobel to create a $25 billion global coatings company, expected to complete by late 2026 or early 2027 [10] - Baidu (BIDU.US) reports Q3 revenue of 31.2 billion yuan, with AI-related business revenue growing over 50% [11] - Futu Holdings (FUTU.US) shows a significant increase in Q3 revenue by 86.3% year-on-year, with net profit up 136.9% [12] - Weibo (WB.US) reports a net profit of $454 million for Q3, a 55.43% increase year-on-year, despite a slight decline in total revenue [13]

Core Viewpoint - The article discusses the global risk-off sentiment affecting various markets, including declines in U.S. stocks, Japanese stocks, cryptocurrencies, and even gold. It highlights the investment strategies of former President Trump, who purchased significant amounts of corporate and municipal bonds during this period [1]. Market Overview - The article notes that the A-share market experienced a collective decline on November 18, with the Shanghai Composite Index down 0.81%, the Shenzhen Component down 0.92%, and the ChiNext Index down 1.16%. The total trading volume across the three markets was 1,946.17 billion yuan, an increase of 15.701 billion yuan from the previous day [16]. - Over 4,100 stocks in the market fell, with 63 stocks hitting the daily limit up, while 23 stocks were locked, and 17 stocks had consecutive limit-ups, with the maximum being six consecutive limit-ups [16]. Sector Analysis - The lithium battery sector faced a downturn due to profit-taking and rumors regarding price increases being debunked. Additionally, there were reports of a price war in the energy storage sector, with prices dropping by 30% [12]. - The AI application sector saw some stocks rise against the trend, with companies like Rongji Software and Inspur Software performing well [16]. - The semiconductor sector remained active, driven by concerns over supply chain security due to changing Sino-Japanese relations and the upcoming IPOs of domestic companies [16]. Financial Support Initiatives - The People's Bank of China and 12 other departments issued a plan to boost consumption in Beijing, particularly focusing on financial support for automobile loans, including incentives for new energy vehicle purchases [23]. Investment Trends - The article highlights that the main funds saw a net outflow of 87.67 billion yuan, with the largest outflows occurring in the electric equipment sector. Conversely, sectors like media, computing, and communication saw net inflows [26]. - Notable stocks with significant net inflows included Liou Shares and Huasheng Tiancai, while companies like Tianshi Materials and Yangguang Electric Power experienced the largest net outflows [26]. Valuation and Market Sentiment - The article indicates that sectors such as media, computing, and electronics are leading in performance, while coal, electric equipment, and steel are lagging. The trading heat in sectors like defense, basic chemicals, and agriculture has increased, with some sectors like agriculture and non-bank financials currently at historical low PE percentiles [33].

Core Insights - Home Depot's stock experienced a decline following an earnings miss and a pessimistic outlook, primarily due to a lack of storms and ongoing weakness in the housing market impacting demand [1] Financial Performance - The company's earnings report indicated a shortfall compared to expectations, contributing to the stock drop [1] - The overall performance was negatively influenced by external factors such as weather conditions and market trends in housing [1] Market Conditions - The housing market continues to show signs of weakness, which has adversely affected consumer demand for Home Depot's products [1] - The absence of storms, which typically drive sales in home improvement sectors, further exacerbated the situation [1]

Home Depot cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases https://t.co/RPRc5tWhQy ...