Sunday , 24 November 2024
Home Forex US stock futures rebound with Tesla shares leading the way. Whirlpool warns on weak macro
Forex

US stock futures rebound with Tesla shares leading the way. Whirlpool warns on weak macro

US stocks are pointed to open higher with S&P 500 futures up 0.5%. A big tailwind is coming from shares of Tesla, which are up 14% pre-market after posting better Q3 numbers than expected.

For the broader economy, the comments from UPS were positive as it beat on earnings and shares are up 7% premarket.

However I often watch Whirlpool for signs on consumer spending and the comments in the call today weren’t good.

“We are seeing further deterioration in the underlying discretionary demand than what we experienced in the first half of 2024,” said CFO James Peters, referring to North America. The company also highlighted weak macro in Europe but noted s strength in Brazil, Mexico and Asia.

“Demand in the US has shifted significantly toward lower-margin replacement-driven purchases,” said CEO Marc Bitzer.

This article was written by Adam Button at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

ECB Villeroy says falling inflation allows the Bank to lower interest rates

Villeroy heads up the Bank of France. He spoke with Ouest-France newspaper,...

CCI Histogram Volume MT5 Indicator

The world of financial markets can feel like a whirlwind of charts,...

Global Market Weekly Recap: November 18 – 22, 2024

Global markets rallied despite heightened Russia-Ukraine tensions, with gold and oil gaining...

FX Weekly Recap: November 18 – 22, 2024

Major currencies saw wild swings as Russia-Ukraine tensions escalated. Safe havens rallied...