Market Awaits JOLTS Report After the Bell

Pre-market futures are flat-to-down this morning, in what is a pretty clear “risk off” sign ahead of tomorrow’s Fed decision on interest rates. Actually, the -25 basis-point (bps) cut is already baked-in; it’s whether it will be a “hawkish cut” that ends the party early — as of Fed Chair Jerome Powell’s press conference after the release — and keeps interest rates elevated for the remainder of Powell’s term.Small Business Optimism Ticks Up in NovemberThe National Federation of Independent Businesses (NFIB) is out with its Small Business Optimism Index ahead of today’s open. The November headline ticked up to 99.0 from 98.2 reported the previous month. This is the highest print since August’s 100.8, and 64% of small business owners said their companies’ performance is either excellent (+11%) or good (+53%). Labor quality was the most important problem small business owners faced last month.This report is starkly different than the November private-sector payrolls report last week from Automatic Data Processing ADP, which saw small businesses cut -120K positions last month. That’s not necessarily a ringing endorsement for strong business conditions for companies with fewer than 50 employees. In today’s NFIB report, the number of small business owners who believe conditions are about to improve dropped -5% to +15% today.JOLTS Report After the Bell for OctoberAfter the regular trading session gets underway today, we’ll see the Job Openings and Labor Turnover Survey (JOLTS) released for the month of October. Due to the 6-plus-weeks of a federal government shutdown, these monthly reports are still working their way toward getting up to date. Expectations are for the JOLTS headline to come in at 7.2 million, where it has been for the previous two reports. Healthcare, social assistance and leisure & hospitality led the way by sector.Earnings Roundup Ahead of the Open: GIII, CPB & MoreThe parent company for designer brands Calvin Klein, Tommy Hilfiger, Donna Karan and major American sports leagues, G-III Apparel Group GIII posted a big earnings beat this morning. Earnings of $1.90 per share outpaced the Zacks consensus by 30 cents, even as revenues came up slightly short of the $1.01 billion expected. Shares are currently up +9% in pre-market trading.The Campbell’s Company CPB outperformed earnings in its fiscal Q1 this morning by 4 cents per share to $0.77, for a +5.48% earnings surprise. Early trading is flat on the news, and the company remains sold off by -28% year to date.AutoZone AZO shares are down in today’s pre-market after missing fiscal Q1 results on both top and bottom lines today. The specialty retailer made $31.04 per share in the quarter, -3.7% from estimates, on revenues which were -0.25% lower than expected. Shares are down -2.7% at this hour.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Automatic Data Processing, Inc. (ADP): Free Stock Analysis Report The Campbell's Company (CPB): Free Stock Analysis Report AutoZone, Inc. (AZO): Free Stock Analysis Report G-III Apparel Group, LTD. (GIII): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks