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Solid Retail Sales, Earnings Drives Indices Higher

EQUITIES
  • Wall Street traded uniformly higher Tuesday, with all three major indices notching up gains of 0.5% or more. The e-mini S&P traded just shy of Nov 8th's 4707, a break above which opens new alltime highs of 4711.75 printed a few weeks ago.
  • Consumer discretionary and tech names led gains across Wall Street, with a solid contribution from Home Depot after their earnings, which showed comparable store sales coming in well ahead of expectations. Their shares traded with gains of as much as 6% ahead of the close.
  • At the other end of the table, Walmart traded poorly as their report showed their gross profit rate took a hit of around 12bps - reflecting increased costs across supply chains, which had already received a boost from advertising.
  • Across Europe, the picture was mixed-to-positive, with Germany's DAX making gains while the UK's FTSE-100 and Spain's IBEX-35 lagged.
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