Markets could close out the week strong plus stocks to watch today in the Money and Markets Wall Street Wake-Up.
The Market Open
U.S. markets have opened up Friday morning.
As of 10:15 a.m., the Dow Jones Industrial Average was up 79 points or 0.2% to 28,456.17. The Nasdaq was up 0.2% and the S&P 500 opened up 0.3%.
The Opening Bell
It could be another day of solid market gains if Friday premarket numbers are any indication.
The Dow Jones Industrial Average, S&P 500 and Nasdaq all posted slight gains of 0.1% to 0.2% as of 8:45 a.m. EST, setting the stage for markets to close out the week full of more record highs.
Stocks to Watch Today
Nike Inc. (NYSE: NKE) — The apparel giant beat quarterly earnings estimates by $0.12 in its quarterly earnings report. The company also reported stronger-than-expected earnings.
CarMax Inc. (NYSE: KMX) — While the auto retailer beat Wall Street estimates on revenue, it was $0.12 off in earnings per share, in its recent quarterly report.
Biogen Inc. (Nasdaq: BIIB) — In an 8-K filed after markets closed Thursday, the biotech giant said it was planning to build back $5 billion in stock. Biogen stock was up nearly 1.5% in premarket trading Friday.
In the News
Boeing Co. (NYSE: BA) is facing another issue Friday after its Starliner spacecraft flew into the wrong orbit.
While Boeing shares were up slightly in premarket trading Friday, the spacecraft was unable to rendezvous with the International Space Station. Officials said they were working on the issue.
Starliner in stable orbit. The burn needed for a rendezvous with the ISS did not happen. Working the issue.
— Jim Bridenstine (@JimBridenstine) December 20, 2019
UK Government Picks New Head of Central Bank
An experienced financial regulator has been picked to be the next governor of the Bank of England, according to the Wall Street Journal.
Andrew Bailey, chief executive of the Financial Conduct Authority, will take over for Mark Carney in March 2020.
Is the Fed Doing Quantitative Easing?
Despite the Federal Reserve buying $60 billion of Treasury bills per month, the bank insists it is not performing quantitative easing — where the government buys securities to pump money into the economy.
However, a survey of investors by RBC Capital Markets found 53% of those investors believe the Fed is doing quantitative easing, CNN Business reported.
Other Morning Reads
Yield Curve Inversion Reverses — But That’s Not Necessarily a Good Thing (Money & Markets)
CEO of Online Gaming Company to Earn $421 million (MarketWatch)
Coke Targeted Teens By Saying Sugary Drinks Are Healthy (CNN Business)
Here are the companies releasing earnings reports today:
BlackBerry Ltd. (NYSE: BB)
Carnival Corp. (NYSE: CCL)
Winnebago Industries Inc. (NYSE: WGO)
Chart of the Day
As millions flock to movie theaters this weekend to catch “Star Wars: The Rise of Skywalker,” we decided to stay on theme today.
Our Chart of the Day looks at all the different locations each of the franchise movies have been filmed.
Those locations range from China to Italy and Australia to Tunisia.
Check back each morning before the opening bell for stocks to watch today with the Wall Street Wake-Up, here on Money and Markets.