Wednesday’s big stock stories: What’s likely to move the market in the next trading session
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching as higher Treasury yields weighed down stocks, and what’s on the radar for the next session. Nvidia reports Wednesday after the bell The stock is down 6% from the high reached last week. Nvidia shares have gained 17.4% in the past three months. The implied volatility ahead of Wednesday’s earnings report is about 6%, meaning the options market is positioning for a decent-sized move up or down. The implied volatility number was right on three months ago at 5.5%, but the actual number has been tracking much lower than volatility estimates over the last few years, with some exceptions. NVDA 3M mountain Nvidia shares in the past three months Jeff Bezos: Live on ‘Squawk Box’ The team will talk to the man who built Amazon and Blue Origin, live from his rocket factory in Florida. According to publicly available data, he’s still Amazon’s largest shareholder. Shares of Amazon hit a high on May 5. Shares have fallen 7% from that level, but this stock has gained nearly 27% in the past three months. Overseas bonds We’ll be watching key European data on Wednesday, including inflation data from Germany, the United Kingdom and European Union. The Japanese 10-year yield is at highs not seen since the ’90s. The yield on the 10-year German bund is at 2011 highs. The British 10-year gilt is at 5.126%. It hit 2008-like highs. European stocks The Vanguard FTSE Europe ETF (VGK) has lost 3% in the past month. The State Street SPDR Euro Stoxx 50 (FEZ) has fallen 3.5% in the past month. The iShares MSCI United Kingdom ETF (EWU) has dropped 4% in the past month. The iShares MSCI Germany ETF (EWG) has declined 2.7% in the past month. Inflation, higher rates and uncertainty aren’t usually a good combo for emerging markets. The iShares MSCI Emerging Markets ETF (EEM) has lost 2.4% in the past week. The iShares MSCI Brazil ETF (EWZ) is down about 6% in the last week and down nearly 13% in the past month. The iShares MSCI Mexico ETF (EWW) is down 3% in the past week. EWZ 1M mountain The iShares MSCI Brazil ETF (EWZ) in the past month Back in the U.S. The U.S. 30-year Treasury yield hit 5.197% during the session, the highest level since July 2007 . It’s at 5.183% on Tuesday night. In 2007, the first iPhone came out. The U.S. 2-year yield is at 4.12%. The U.S. 3-month Treasury bill yield is 3.663%. CNBC contributor and “Fast Money” trader Guy Adami said, “The equity market has woken up to the fact that the bond market here is deteriorating and by the way Japan is a powder keg waiting to happen.” In the past week, the S & P 500 has lost 0.6% and the Nasdaq 100 has fallen about 0.9%. Target reports before the bell Target is down 4.4% from the April high. It has gained 10% in the past three months. Walmart reports Thursday before the bell. The stock hit a new high Tuesday, and it has gained 7.5% in the past three months. TGT 3M mountain Target in the past three months Lowe’s reports before the bell Home Depot beat estimates on Tuesday. We get Lowe’s on Wednesday. Lowe’s is down 25% from the February high, and shares have fallen 21.5% in the last three months. McDonald’s annual shareholder meeting is on Wednesday Shares are 18% from the March 2 high. McDonald’s is down nearly 10% in the past month. CNBC TV’s Brandon Gomez is on the story and will report throughout the day. Markets shift and headlines fade, but the core principles of building long-term wealth remain constant. Join us for our third CNBC Pro LIVE, where investors of all backgrounds – from financial professionals to everyday individuals – come together to cut through the noise and gain actionable strategies for smarter, more disciplined investing. No matter where you’re starting from, you’ll leave with clearer thinking, stronger strategies. Enter your email here to get a discount code.
