Traders work on the floor of the New York Stock Exchange during morning trading on August 20, 2024 in New York City.
Michael M. Santiago | Getty Images
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Here’s what CNBC television producers were watching as stocks rallied on Wednesday and what to watch in the upcoming session.
US Retail
meanwhile target and Tx Good news was reported on Wednesday, pushing stock prices higher. TJX rose 6% and Target rose 11%. We’re keeping our eye on shopping mall real estate investment trusts. Retail earnings this season are up 10% for Target, TJX, and Macy’sThe stock fell nearly 13% in trading on Wednesday, all indicative of a more cautious American consumer.KYMCO and Simon Property Group Both stocks were up more than 1% on Wednesday. Both were up about 5% in August and both hit new highs this week.BrixmoreThe outdoor shopping center operator hit a new high on Wednesday, with its shares up 9% in a month.TangierThe outlet mall operator’s shares are down 4% from a 52-week high hit in March. The stock is up 2.6% this week and has risen 24% over the past year.
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Tangier 2024
Oh Canada
In the face of a possible Canadian rail strike, Canadian National Railway The stock is down 15% from its March high. The stock is down about 10% in three months. CNBC’s Lori Ann LaRocco has some takeaways.Canadian Pacific Kansas City That’s 13% from the March high. Shares should plateau in 2024.Norfolk Southern That’s up 8% from its March high, and the stock is up 7.5% in the three months.Union Pacific It’s up 5% from its February high, and is expected to remain roughly flat in 2024.CSX It’s up 16% from its February high.
Brent Crude Oil
The commodity fell 1.5% on Wednesday and is now negative for the year.West Texas Intermediate Crude Oil It’s expected to rise 0.4% in 2024. Thanks to CNBC data chief Gina Francola for keeping an eye on oil: The S&P 500’s energy sector is up 5.7% this year. Only the real estate sector is up less.ExxonMobil By 2024, it will increase by approximately 14%.Chevron In 2024, it will decrease by 2.6%.
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ExxonMobil in 2024
US Infrastructure
CNBC’s Pippa Stevens reports on the new infrastructure investment outlook. The S&P 500 materials sector is up 7% so far this year. The S&P 500 is up about 18% in 2024.Vulcan Material It’s up 11% from its high on July 31. The stock is projected to rise 9% in 2024.Martin Marietta It’s up 14% from its April high and is up 8% so far in 2024.Emerson Electric It’s up 13% from its high on July 16. The stock is projected to rise 7% in 2024.mosaic That’s a 31% drop from the highs in September 2023. In 2024, the stock is set to fall 22%.Freeport McMoRan Up 20% from May highs, up 3% by 2024.
Political advertising expenses
CNBC’s Julia Boorstin reports on where political ad dollars are going this election season. Election season is typically a good time for local TV stations, as candidates for the House and Senate make a big splash with ads.Gray TV The stock is down 46% so far this year and closed at $4.84 on Wednesday.Tegna The stock is down 11% this year. The stock closed at $13.63. E. W. Scripps It’s down 73% so far in 2024. The stock is at $2 a share.
The peloton reports ahead of the race on Thursday
The stock has risen 2.75% in the past three months. Overall, it’s not a great situation: the stock is down 52% in a year.
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Peloton Interactive stock price over the past year
Baidu reports before the bell
The Chinese e-commerce stock is down 40% from its 52-week high. Its shares have fallen 15% in the past three months. Alibaba It’s down 3% in three months and 13% from its 52-week high.
Williams-Sonoma Reports Before the Bell
The stock has fallen 8.5% since its last report three months ago and is down 17.5% from its 52-week high.
Kava reports after the bell
The new restaurant chain has risen 31.5% over the past three months. Shares hit a new high on Wednesday, closing at $102.87.Kava The company went public in June 2023, with its stock price at $22 per share on its first day of trading and closing at $43.78.
Reporting to work after the bell rings
The HR cloud software company’s shares have fallen 10% in three months. The stock price is down 25% from its February peak.
CNBC’s coverage of the market-moving Jackson Hole Federal Reserve meeting begins Thursday
Senior economics reporter Steve Reisman will also be in attendance.
