November Market Multiple Table
What’s in Today’s Report:
- Market Multiple Table – November Update
Futures are moderately lower with big tech underperforming after yesterday’s largest one day gain in months as traders assess the prospects of the government reopening.
Economically, the German ZEW Survey’s Current Conditions rose to -78.7 vs. (E) -78.0 and the U.K. Unemployment Rate rose to 5.0% vs. (E) 4.9%. Domestically, the NFIB Small Business Optimism Index fell to 98.2 vs. (E) 98.3.
Looking ahead to today’s session, investors are likely going to be focused on Washington and the next steps in the process for the federal government to reopen in the days ahead however there is also one (new) economic report due out ahead of the bell: The ADP Weekly Employment Change (8:15 a.m. ET) and one Fed officials scheduled to speak: Barr (10:25 a.m. ET).
With just two noteworthy earnings releases due out today: SE ($0.75) and OKLO ($-0.13) it is likely to be a mostly quiet session as traders await clarity on the status of the government reopening process with the potential for a modest pullback after yesterday’s big rally.
