Today’s Top Stock Market News November 15, 2021

 

Stock Market Futures Rise as Focus Shifts to Consumer Spending

Monday morning sees U.S. stock futures inching higher, indicating a positive start to the week for stocks. The week ahead is likely to revolve around consumers and their spending patterns. This is primarily due to the upcoming release of major retailer earnings reports and October’s retail sales figures. Retail giants such as Walmart (NYSE: WMT), Target (NYSE: TGT), and Home Depot (NYSE: HD) are among those reporting their quarterly results later this week. Additionally, attention will be on China’s October retail sales figures, which exceeded expectations by rising 4.9% year-over-year. If this indicates continued strength in consumer spending, it could be significant for investors. Despite ongoing concerns about inflation, JPMorgan (NYSE: JPM) sees potential in the current market. Gabriela Santos, global market strategist at JPMorgan Asset Management, believes that “Inflation should moderate. We’re talking about settling at 2%, 2.5% over the course of the next 12 months.” She also characterizes the current situation as “reflation” rather than “stagflation,” indicating that it could be positive for earnings growth and the stock market, particularly for cyclical sectors. In other news, President Joe Biden is set to host a bipartisan bill signing ceremony for the Infrastructure Investment and Jobs Act. As of 6:36 a.m. ET, Dow, S&P 500, and Nasdaq futures are trading higher by 0.31%, 0.22%, and 1.28%, respectively.

American Tower Eyes $10 Billion Acquisition of CoreSite

American Tower (NYSE: AMT) is in the spotlight as it reportedly considers a $10 billion acquisition of CoreSite (NYSE: COR), a data-center real estate investment trust (REIT). American Tower, a leading global REIT, focuses on wireless and broadcast communications infrastructure and boasts a portfolio of 219,000 communications sites worldwide. This move could signal American Tower’s interest in the growing cloud computing industry, as CoreSite serves tech firms dealing with vast amounts of data. The acquisition may provide American Tower with scale, pricing power, and increased market penetration. CoreSite currently owns and operates 24 data centers in key urban hubs, including Boston, New York, Chicago, Los Angeles, and Miami. This move is reminiscent of Blackstone’s (NYSE: BX) $6.7 billion acquisition of data-center operator QTS Realty Trust in June. Investors may keep a close eye on American Tower’s stock in today’s market.

Airbus Receives Significant Aircraft Order Amidst Travel Recovery

Airbus (OTCMKTS: EADSY), a leading player in the aircraft industry, received a substantial order for aircraft over the weekend. The Indigo Partners portfolio of airlines has placed an order for 255 A321neo Family aircraft, indicating a resurgence in the global airline industry as travelers book holiday flights. Airbus, Europe’s largest aeronautics and space company, views this order as a positive sign for the industry’s recovery. Christian Scherer, Airbus COO, stated, “We are happy to further expand our relationship with our great Indigo Partners’ airlines Wizz, Frontier, Volaris, and JetSMART who have acted fast and decisively over the last few months to position themselves for this landmark order as the effect of the pandemic recedes and the world wants more sustainable flying.” This order aligns with Boeing’s (NYSE: BA) recent prediction that demand for new aircraft will surge over the next two decades. Investors may closely watch aircraft manufacturers and leading airline operators in today’s stock market.

Bitcoin Undergoes First Major Upgrade in Four Years

Bitcoin (BTC) is receiving its first major upgrade in four years in the form of Taproot, bringing enhanced transaction privacy and efficiency to Bitcoin trading. The upgrade may also introduce smart contracts, potentially eliminating the need for intermediaries in transactions. This development comes at a crucial time for the cryptocurrency market, as it enhances security and addresses concerns about Bitcoin’s viability as a currency. The upgrade’s practical implications are substantial, opening opportunities to expand Bitcoin’s utility, according to Alyse Killeen, founder of Bitcoin-focused venture firm Stillmark. Investors may anticipate an exciting week ahead for Bitcoin and related crypto stocks.

Earnings to Watch Today

Investors have a busy earnings calendar today, with both pre-market and post-market reports to consider. Pre-market earnings include Tyson (NYSE: TSN), FreightCar America (NASDAQ: RAIL), and Warner Music Group (NASDAQ: WMG), among others. After the market closes, notable companies reporting their latest quarterly results include Lucid Group (NASDAQ: LCID), Ammo Inc. (NASDAQ: POWW), Advance Auto Parts (NYSE: AAP), and Desktop Metal (NYSE: DM). Investors are likely to stay alert and responsive to these earnings reports throughout the day.

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