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The Dow Jones Industrial Average rebounded by 1.1% following stronger-than-expected GDP growth of 3.1% and a drop in jobless claims to 220,000. However, Micron Technology's stock plummeted over 16% due to a disappointing outlook, while Nvidia attempted a recovery after a five-session decline. Other notable market movements included Darden Restaurants surging 14% and Lennar falling 4%.
Stocks reached new highs on Monday, with 99 S&P 500 stocks hitting peaks and the Russell 2000 up 11% in November. Key reports on home prices and new home sales are expected Tuesday, while software stocks, led by AppLovin and Palantir, show significant gains since the election. Retailers like Burlington and Dick’s Sporting Goods are set to report earnings, with mixed performance noted in the sector.
Jim Cramer highlighted key earnings reports for the upcoming week, including those from Dell, CrowdStrike, and major retailers like Best Buy and Macy's. He advised investors to consider taking profits on volatile stocks and noted that the holiday season commentary could impact retail stocks. Additionally, the release of the personal consumption expenditures index on Wednesday may influence future interest rate decisions.
Dozens of major U.S. retailers have raised interest rates on store-branded credit cards to record highs, with at least 50 companies, including Big Lots and Macy’s, increasing APRs significantly ahead of the Federal Reserve's rate cuts. The average APR on store cards surged by 1.52 percentage points from September 2023 to September 2024, driven by profit motives amid sluggish sales and rising credit card debt. Consumers are cautioned to reconsider signing up for these cards, as many may not fully understand the financial implications.
Agree Realty Corporation is a real estate investment trust (REIT) specializing in the ownership, acquisition, development, and management of retail properties leased to various tenants. With a portfolio of over 2,135 properties across 49 states, totaling approximately 44.2 million square feet, its tenants include major brands like Walmart, Best Buy, and Home Depot. UBS has issued a neutral rating on the company.
Agree Realty Corporation is a real estate investment trust (REIT) specializing in the ownership, acquisition, development, and management of retail properties leased to various tenants. With a portfolio of over 2,135 properties across 49 states, totaling approximately 44.2 million square feet of gross leasable area, its tenants include major retailers like Walmart, Best Buy, and Home Depot. UBS has issued a neutral rating for the company.
Burlington Stores, Inc. is a retailer specializing in brand name apparel, footwear, accessories, and housewares at affordable prices. The company operates approximately 1,007 stores and has five distribution centers across the East and West Coasts, totaling around 4.1 million square feet for processing, shipping, and warehousing. Additionally, Burlington has agreements with third parties for pool point facilities to enhance its distribution capabilities.
Agree Realty Corporation is a real estate investment trust (REIT) specializing in the ownership, acquisition, development, and management of retail properties leased to various tenants. With a portfolio of over 2,135 properties across 49 states, totaling approximately 44.2 million square feet, its tenants include major retailers like Walmart, Best Buy, and Home Depot. The company operates through its sole general partner, the Operating Partnership.
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