RELATED: Fed Chair Powell: ‘A Long Way To Go’ Until Economy Is Out Of The Woods
Stocks React to Big Fed Chair News and Zoom Gets Hammered
Here’s what is happening in the markets today, Tuesday, November 23rd:
- Markets react to President Biden nominating Jerome Powell to 2nd term as Fed Chair.
- Zoom (ZM) hammered after warning investors about a revenue slowdown with workers returning to the office as the pandemic era comes to an end.
- Best Buy (BBY) is down 10% pre-market after the electronics retailer announced holiday season sales forecasts that were much lower than expected.
- Urban Outfitters (URBN) slides after the earnings beat. But the shift to online sales is increasing costs for the company.
- Dick’s Sporting Goods (DKS) – Up pre-market after earnings win.
- Xpeng (XPEV) – Xpeng up 4% after issuing an upbeat current-quarter outlook.
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