Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Pfizer Again, Macy's, GlobalFoundries: 3 Things to Watch

Stock MarketsNov 18, 2021 03:47PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Dhirendra Tripathi

Investing.com -- The S&P 500 and NASDAQ Composite edged higher on Thursday and appeared on track to set new records with a half hour of trading left.

Big tech notched gains, lifted by chip makers such as NVIDIA Corporation (NASDAQ:NVDA), which roared to new highs after strong earnings and a positive outlook.

Broad gains in chip-making stocks boosted the Philadelphia semiconductor index itself to a record high. And ongoing strong earnings by retailers such asMacy’s Inc (NYSE:M) and Kohls Corp (NYSE:KSS) also supported the index gains. 

Still, inflationary pressures remained a worry, and investors were still skittish about how the Federal Reserve might act to reverse rising prices. On a positive front, the number of Americans filing for unemployment benefits fell again last week, but the pace of the decline didn’t match expectations.

Before President Joe Biden leaves for his Thanksgiving break, there are still a number of unresolved matters in Washington. House lawmakers were expected to bring his $1.85 trillion social spending package to a vote by the end of this week. And leadership from both parties are meeting to negotiate a solution to the debt ceiling, which must be raised by early December.

Biden also has to pardon the Thanksgiving turkeys.

Here are three things that could affect markets tomorrow:

1. Pfizer still in the headlines

Pfizer Inc (NYSE:PFE)continues to draw the spotlight -- as we await public health officials’ decision on providing boosters for all adults. The U.S. government will pay it $5.29 billion to buy 10 million treatment courses of its experimental drug for treating Covid-19.

The Food and Drug Administration has yet to approve the pill, and the supplies, to be completed by 2022, will start once that is in. The company said it has also entered into advance purchase agreements with several other countries and has initiated bilateral outreach to approximately 100 nations around the world.

2. Macy’s earnings

Macy’s Sales and earnings both blew past estimates and the retailer raised its guidance for the full year once more, after attracting 4.4 million new customers through the three months ended October 30, on top of the 5 million it added in the second quarter. 

The company now expects its full-year net sales to be $24.20 billion at the midpoint of its guidance range, up from $23.75 billion previously.  Average customer spending rose 16% across three segments of its loyalty program -- platinum, gold and silver. Separately, Macy's said it will launch a curated online marketplace to cement the gains it has made in e-commerce over the last couple of years.  

3. Chip-Automaker alliance

Globalfoundries Inc (NASDAQ:GFS) made its public debut at the end of October and hit new highs Thursday after announcing a collaboration with Ford Motor Company (NYSE:F). The companies will work together to advance semiconductor manufacturing and technology development within the U.S. GlobalFoundries create an additional semiconductor supply for Ford's current vehicle lineup. 

--Sam Boughedda contributed to this report

Pfizer Again, Macy's, GlobalFoundries: 3 Things to Watch
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
JERAMY BAKER
JERAMY BAKER Nov 18, 2021 10:06PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wordeful job keep the high engine on love care much respect too all King of Rome
JERAMY BAKER
JERAMY BAKER Nov 18, 2021 10:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wordeful job keep the high engine on love care much respect too all crown of curreny exchange currency King of Rome
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email