Fox Business Flash top headlines for November 17
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Stocks resumed their upward trend on Wednesday after Pfizer became the latest to deliver positive vaccine news, combined with more solid retail earnings and positive news for Dow member Boeing.
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The Federal Aviation Administration approved Boeing's 737 Max jet to fly again pushing the stock higher in the pre-market.
BOEING LIFTING DOW, S&P FUTURES
This helping lift Dow Jones Industrial Average futures which are up over 100 points, a gain of 0.5%, while the S&P 500 tracked higher by the same amount. The Nasdaq Composite was up 0.2%.
Pfizer shares also rose in the pre-market after announcing a successful Phase 3 trial for its COVID-19 vaccine.
Stocks took a pause Tuesday, with the exception of the Russell 2000 and the Dow Transports which both hit fresh records.
|I:DJI||DOW JONES AVERAGES||29783.35||-167.09||-0.56%|
|I:COMP||NASDAQ COMPOSITE INDEX||11899.342877||-24.79||-0.21%|
RETAIL ON TAP
Target shares rose 1.7% after the Walmart competitor said it earned $2.79 a share on $22.34 billion in sales, compared to analysts' expectations of $1.60 on $20.93 billion in sales in its most recent quarter.
Lowe's, which competes with Home Depot in the home improvement space, is slated to report earnings before the market opens. Traders will be looking for earnings of $1.99 a share on $21.25 billion in revenue, up 22.2% year-over-year.
|LOW||LOWE’S COMPANIES INC.||159.86||-2.04||-1.26%|
TJX Co. is also set to release its latest earnings report, with investors looking for the discount retailer to earn 40 cents a share on $9.36 billion in sales.
S&P TAKES BREATHER AS SMALL CAPS, TRANSPORTS HIT RECORDS
After the market closes, semiconductor giant Nvidia and L Brands are among the companies reporting their latest results.
FRESH LOOKS AT HOUSING, CRUDE OIL
Several economic reports tied to the U.S. housing markets will be released on Wednesday, with the EIA's weekly crude oil inventory report also due to be released.
Mortgage applications for the week ending Nov. 14 will be released at 7 a.m. and housing starts and building permits for October will be released at 8:30 a.m.
Ahead of the weekly inventory report, crude oil rose on Wednesday to $42.07 a barrel, a gain of 1.5%.
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In other commodities, cold declined to $1,872.90 an ounce, a decline of 0.6%.
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