Stock Groups

5 things to know before the stock market opens Tuesday, Nov. 16

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These are the top news, trends, and analyses that traders need in order to get started with trading.

1. Stocks are stable with buyers not being deterred from higher prices

Traders in New York City work at the New York Stock Exchange (NYSE), November 15, 2021.

Spencer Platt | Getty Images

2. Walmart and Home Depot lead in revenue, earnings expectations

Walmart and Home Depot

Kena Betancur, VIEWpress | VIEWpress | Getty Images; Scott Mlyn | CNBC

Walmart stock rose 1% premarket after Tuesday’s report by the retailer giant on adjusted third-quarter earnings. beat expectations. Walmart won the loyalty of grocery shoppers by using its massive size to ease through the snarled supply chains, price pressures, and other obstacles. Walmart’s U.S. E-commerce sales grew by 8% over the previous quarter and 87% in two years. Company raised full-year earnings estimates.

Home Depot stock rose by 1% after Tuesday’s adjusted third quarter earnings and revenue. that exceeded expectations. The quarter saw 6.1% growth in same-store sales, beating the 2.2% increase predicted by analysts. This is because consumers are continuing to renovate their homes through Covid at a slower pace than last year. The same-store sales increased nearly 25% during Q3 2020.

3. Bitcoin plunges to $60,000, as other cryptos fall

BitcoinOther digital currencies also fell on Tuesday retreating from near-record highs. The largest digital currency in the world dropped toward $60,000China’s top planner stated that it would continue to eliminate crypto mining from the country. Beijing cracked down against bitcoin mining earlier in the year leading to a massive exodus. China is experiencing an energy crisis and is now concerned about the power required to run mining operations. These create new coins and keep track of transactions. Some bitcoin is given to miners for their problems.

4. Elon Musk sells Tesla stock because of taxes, but not only.

Maja Hitij | Getty Images News | Getty Images

TeslaThe CEO Elon MuskMusk could face a tax bill exceeding $10 billion for stock options he received in 2012. Musk was interviewed Monday. sold another $930 million in sharestax on the options he used on 2.1 Million shares. His total options exercised since Nov. 8 now amounts to $4.6 billion. To meet his tax withholding obligations, he had to sell shares worth $2 billion. Last week, Musk sold $5.7 billion in stock to meet his tax withholding obligations.

5. Biggest bonuses for traders and bankers since Great Recession

One street sign for Wall Street was seen in New York’s financial district on November 8, 2021.

Brendan McDermid | Reuters

Wall Street has been established to see the highest bonuses since the Great RecessionAccording to pay consultant reports, 2021 will be a successful year. According to a pay consultancy report, bonuses for investment banking subwriters could jump by 30 to 35% from last year. Meanwhile, bonuses for equities trader and advisor investment banks can see a 20 to 25% increase in bonus year over year. To retain and attract top talent in an increasingly competitive market, businesses are investing in new staff to meet the unprecedented demands of the recovery in business activity.

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