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Home Markets Stock Market

Top stock stories to watch for on Wednesday: Predictions for market movements in the upcoming trading session

Jason Gewirtz by Jason Gewirtz
October 8, 2024
in Stock Market
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Top stock stories to watch for on Wednesday: Predictions for market movements in the upcoming trading session
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Traders work on the floor of the New York Stock Exchange during morning trading in New York City.

Michael M. Santiago | Getty Images

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 stocks rebounded on Tuesday, and what’s on the radar for the next session.

Costco Wholesale

The members’ only store releases September sales on Wednesday around 4:15 p.m., Eastern time.Costco shares are 3.6% off the Sept. 13 high, and they’re up 1.57% in a month. So far in 2024, Costco is up about 35%. On a year-to-date basis, the stock ranks 14th in the SPDR S&P Retail ETF (XRT) out of 80 names. I’m not saying these are apples-to-apples comparisons, but XRT constituents that also offer groceries — and are faring better than Costco in 2024 — include Sprouts Farmers Market, up about 140% year to date, and Walmart, up 51% year to date. Casey’s General Stores is up 38% year to date. Jim Cramer holds Costco in his charitable trust, having last purchased shares in June 2020. The stock is up 205% since then. That’s more than double the S&P 500 in the same time period.
Stock Chart IconStock chart icon

Costco Wholesale in 2024

IPO in the U.S.A.

KinderCare goes public on WednesdayThe Renaissance IPO ETF (IPO) is up 7.3% in the last month. The IPO ETF is 3% from the high hit three weeks ago.

Boeing

The aerospace giant was the subject of another warning on Tuesday: S&P put Boeing on “creditwatch negative.” The ratings agency says if Boeing’s machinists’ strike and the company’s problems continue, then it runs the risk of getting a junk rating. This would have consequences for Boeing’s bonds. Shares are flat after hours. The stock is 42% from the December 52-week high.
Stock Chart IconStock chart icon

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Boeing shares in 2024

The airlines

While Boeing shares slump, many of the carriers are faring well over the past week.American Airlines is up about 9.4% in a week. It’s still 26% from the March high. United Airlines is up nearly 7% in a week. Mesa Air is up 6% in a week. It is 36% from the July high. JetBlue is up 4.6% in a week. It is 7.6% from the high hit early this month. But at about $7 a share, it is far from the $31 all-time high. Southwest Airlines is up 2.6% in a week. The stock is 13% from the February high. Spirit Airlines is down 17% in a week. Shares are 90% from the high they hit nearly a year ago.

The cruise lines

Hurricane Milton doesn’t seem to be affecting the cruise line stocks. Many of them have significant operations in Florida. Norwegian Cruise Line was up 3.5% Tuesday. The stock is 4% from the March high. Royal Caribbean was up 2%. Carnival was up nearly 5% Tuesday, and it’s 4.4% from the December high.

Conclusion

In conclusion, the stock market is always full of surprises and opportunities. From Costco to IPOs to aerospace giants like Boeing, there is never a dull moment in the world of investing. Whether you’re a seasoned trader or just starting out, staying informed and keeping an eye on the latest trends is crucial to success. Make sure to check out DeFi Daily News for more trending news articles like this and stay ahead of the curve!



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