Stock Market News Today, Nov. 27: U.S. stock futures today are headed for yet another record-breaking session as stocks are up across the board ahead of tomorrow's holiday.
In market-moving economic indicators today, several signs are pointing toward stronger economic growth. Among them, the leading economic index, a measure of the nation's economic health, rose 0.2% in October, according to the Conference Board.
And consumer sentiment is also on the rise. The University of Michigan and Thomson Reuters' gauge of consumer sentiment rose to 75.1 in November from 73.2 in October.
With the generous helping of positive economic data, the U.S. dollar is making strides today against several major currencies, leaping sharply against the yen to the highest level since late May.
Oil prices continue to slide after major world powers reached an agreement with Iran regarding its nuclear program earlier this week. January light crude oil is down 1% today, trading well under $93 per barrel, although prices rebounded slightly after U.S. Energy Information Administration data showed crude oil supplies rose by 3 million barrels last week. Natural gas is down 0.02% at $3.85.
Among the companies making headlines today, American Airlines, which is owned by AMR Corp., and US Airways Group Inc. (NYSE: LCC) received approval for a merger today after a judge allowed AMR to clear bankruptcy. The merger should occur next month, with both airlines giving up slots and flights at major airports.Technology Stock News: Hewlett Packard's Earnings Impress
Apple is up about 2% today as it makes its iPhone 5s model more available ahead of the holiday shopping season.
And, Hewlett-Packard's stock was upgraded to "Equal Weight" from "Underweight" at Evercore today after the company late yesterday reported fourth-quarter earnings per share of $1.01, just above the Street consensus of $1.00 per share, and revenue of $29.1 billion, above the $27.89 consensus.
For the first quarter, HP expects earnings of between $0.82 and $0.86, a range that includes the Street view of $0.85 per share. For fiscal 2014, HP expects earnings of $3.55 to $3.75 per share, which include Street expectations of $3.64 per share.Consumer Movers: Tilly's Sheds 25% on Disappointing Q3 Results
One of the biggest consumer movers today is Tilly's Inc. (NYSE: TLYS). The specialty retailer dropped to a new record low of $11.63 today after it reported a surprising drop in third-quarter revenue and posted guidance for the fourth quarter that failed to meet the Street's view.
SunTrust, Goldman Sachs, and William Blair cut their ratings on TLYS to Neutral, with SunTrust also slashing its price target to $13 from $20 a share.
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