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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