Here are the most important news items that investors need to start their trading day:
1. December momentum
Stocks ticked higher Monday, extending some year-end momentum. The Dow Jones Industrial Average rose about 0.4%, or more than 150 points. The S&P 500 rose 0.4%, and the Nasdaq Composite rose 0.2%. All three major averages are coming off six straight weeks of gains, but there are some major economic reports out later this week that could rock the boat. November’s consumer price index reading is due Tuesday, the Federal Reserve’s interest rate decision is out Wednesday and a host of other global central banks will follow with their rate decisions on Thursday. Follow live market updates.
2. Oracle reports
A sign is posted in front of the Oracle headquarters in Redwood Shores, California, Dec. 9, 2021.
Justin Sullivan | Getty Images
Oracle stock slipped nearly 9% in extended trading after the software giant missed Wall Street estimates in three of four key revenue segments for its fiscal second quarter. Sales in cloud services and license support; cloud and on-premises licenses; and services all fell below consensus, according to StreetAccount estimates. Only hardware, the company’s smallest division by revenue, beat estimates. Earnings per share outperformed, however, and net income jumped 44% year over year.
3. Pickups cut down
Ford Motor Company’s electric F-150 Lightning on the production line at its Rouge Electric Vehicle Center in Dearborn, Michigan, on Sept. 8, 2022.
Jeff Kowalsky | AFP | Getty Images
Ford is cutting its planned 2024 production of the F-150 Lightning pickup in half, a stark reversal for the EV it’s been touting as the key to mass adoption. The automaker now expects to produce about 1,600 of the electric trucks on average per week at its Rouge Electric Vehicle Center in Dearborn, Michigan, next year, down from recent production plans of about 3,200. Ford executives have recently been noting that they’ll match production with customer demand,…
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