Top 10 things to watch Wednesday, November 27:
1. Wall Street was little changed Wednesday as investors awaited the Fed’s favorite inflation gauge, the personal consumption expenditures price index, which was released at 10 a.m. ET due to the holiday.
2. CrowdStrike delivered a strong quarter, with management raising its full-year outlook, but shares sold off 3% on profit-taking.
3. Dell shares sank 12% after the company issued guidance short of expectations, despite beating quarterly earnings estimates.
4. HP stock dropped 7% after management issued disappointing guidance, with the company’s personal computer segment missing estimates.
5. President-elect Donald Trump appointed Kevin Hassett to lead the National Economic Council.
6. Mortgage rates dropped last week, leading to a 12% increase in home loans for purchases and a 52% year-over-year increase.
7. Best Buy shares were steady after a 5% post-earnings drop, with some analysts recommending buying shares if they drop to the $70s.
8. Sales of foreign-branded smartphones in China, including Apple’s iPhone, fell 44% year-over-year in October.
9. Citi increased its Salesforce price target to $368 per share from $290, citing positive customer feedback on Agentforce.
10. Disney’s Thanksgiving tentpole, “Moana 2,” is expected to debut with $120 million to $150 million in domestic ticket sales.