10 things before the opening bell: November 17th

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Let’s jump in.

1. Americans increase spending into the holiday season. The latest Census Bureau report tells us that consumer spending in October saw the biggest jump since March, worth $ 638.2 billion. The spending spree has not yet fallen under rising prices and fears of COVID-19.

Shoppers are out in droves, though the price of just about everything is rising. Yesterday, Walmart reported strong sales in the third quarter, saying it increased prices in the midst of early holiday shopping. Analysts also expect Target to beat earnings estimates on Wednesday.

The data suggest that the economic recovery is picking up speed, but the general sentiment among Americans seems to suggest otherwise. Data show that consumer sentiment has just peaked in 10 years, but pessimism about the economy has not stopped people from going out and spending money, at least for now.

Here are some key figures:

All of this spending should help propel the economy into 2022 – even as Americans continue to worry about inflation.

2. The tailwind of retail sales gives another boost to US equities. Across the UK, inflation rose to a 10-year high and it puts a BoE rate hike more firmly on the cards. Here are the latest initiatives in the market.

3. Ivy Zelman told Insider why house prices will fall far faster than Wall Street thinks. She called the top of the housing market before the crash in 2008, and now Zelman is warning sellers of an upcoming market shift. “We could see a pretty significant correction.”

Earnings on deck: Target, Nvidia, Cisco and Lowe’s Companies, all report.

5. Tesla has lost about $ 200 billion in market value since Elon Musk began selling shares. The Tesla boss has been loud on Twitter lately, hitting back at critics and calling ‘The Big Short’ investor Michael Burry a “broken clock”. Here’s where Tesla stands now.

6. Saudi Arabia’s sovereign wealth fund has earned a fortune on Lucid Motors. The fund now owns about $ 46 billion of the rising electricity company, up from an initial investment of $ 1.3 billion three years ago. However, the fund missed out on huge gains by selling its stake in Tesla.

7. AMC’s CEO said the theater chain will accept the shiba inu coin in the next quarter. Soon you will be able to buy tickets online with the meme token, according to a tweet from CEO Adam Aron. The move is the latest example of the AMC CEO’s embrace of meme culture.

8. Meme stock watchlist: Tesla leads with the most mentions on Wall Street Bets this week, with the recently announced rival Lucid close. See the full list of the 10 most talked about stocks on the famous subreddit.

9. UBS explained why discounted stocks will shine in early 2022. Growth stocks have performed better since 2009, but UBS analysts predict that this trend will reverse in the near future. How to use the pattern.

10. The TV-famous house flipper Pace Morby does not think you need to spend large sums to get started investing in real estate. For starters, he recommends working with salespeople to get creative with your financing strategy. Here are two strategies he uses to acquire property without a bank.

Compiled by Phil Rosen. Feedback? Send an email to [email protected] or tweet @philrosenn.

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