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Here’s what CNBC TV’s producers were watching as October’s trading kicked off and what’s on the radar for the next session.
OPEC
On Wednesday, CNBC’s Brian Sullivan will report on a meeting of the oil cartel. Brent and West Texas Intermediate futures both jumped by as much as 4% on Tuesday before, during and after Iran’s ballistic missile attack against Israel. Even with this move, both are down about 5% in a month. Energy was the top performing sector of the S&P 500 on Tuesday, up 2.24%. It remains 7.7% from the April high. In the last 12 months, the sector is flat. ConocoPhillips was up 3.9% Tuesday. It is 19% from the April high. APA was up 4.9%. It is 41% from the October 2023 high. Halliburton was up 3% Tuesday, and it’s 32% from the October 2023 high. Exxon Mobil was up 2.3%. It is 3% from the April high. Chevron was up 1.65% Tuesday, standing 12% from the high reached nearly a year ago.
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ConocoPhillips’ performance in 2024
Chipotle
The burrito chain’s interim CEO Scott Boatwright and Jack Hartung, president of strategy, finance and supply chain, joined Jim Cramer and “Mad Money” Tuesday night. They both touted technology in the stores, while promising to maintain human contact. That automation includes everything from food preparation and beyond. The stock is up 2.3% since former CEO Brian Niccol announced he was leaving. Chipotle is 17.5% from its 52-week high. Year to date, Chipotle is up 25%. Texas Roadhouse is up about 45% in 2024. Brinker International, which has brands like Chili’s, Maggiano’s Little Italy and It’s Just Wings is up 82% in 2024. At the bottom of the barrel this year: Bloomin’ Brands is down 41%, and Jack in the Box is down 42%. Red Robin is off 65% in 2024.
Nike
The stock is down 5% in extended trading after the sneaker giant reported quarterly results. Nike beat earnings expectations, but revenue came in lighter than expected. The sneaker company is skipping full-year guidance and has postponed investor day. New CEO Elliott Hill starts in about two weeks. CNBC TV’s Sara Eisen will stay on the story Wednesday.
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Nike shares in 2024
Tesla Q3 deliveries
CNBC TV’s Phil LeBeau will report when the numbers come in later this week. Consensus estimates call for 461,000 units. Tesla is up 20.5% in a month, and it’s 5% from the July high.
Ford September auto sales
LeBeau is also watching this release. Ford Motor is down about 4% in a month and off roughly 16% in three months. Shares are 27% from the July high.
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Ford Motor shares over the past three months
Lilly’s R&D investment
CNBC TV’s pharmaceutical industry reporter Angelica Peebles will interview David Ricks, Eli Lilly’s CEO, on the network Wednesday. Lilly shares are down 4.3% in a week and stand 9% from the August high. The stock is up 51% year to date, ranking second in the S&P health care sector. It’s just below DaVita, which is up 55% in 2024.
Conclusion: In conclusion, keeping an eye on the latest updates and trends in the stock market is crucial for making informed investment decisions. Whether it’s tracking OPEC meetings, analyzing company performance like Chipotle and Nike, or staying updated on auto sales numbers from companies like Tesla and Ford, staying informed can help investors navigate the volatile world of finance. Remember, knowledge is power, and staying on top of the latest news can give you the edge in the fast-paced world of trading.
