easyJet swings back to profit
easyJet swings to profit, posting a profit before tax of £455 million, a £633 improvement on last year's full-year results. It also reinstates its dividend, with 4.5 pence per share payable in early 2024.
APAC indices
APAC indices were mixed overnight, showing modest variations as traders remain indecisive. In the US, equity markets posted marginal losses.
Australian retail sales
In Australia, retail sales unexpectedly dropped by 0.2% in the October month-over-month (MoM), swinging from a 0.9% increase in September and missing market forecasts of 0.1% growth. This was the first decline in retail trade since June.
German GDP
Germany's gross domestic product (GDP) consumer confidence index rose to -27.8 points heading into December from -28.1 the month before. Germany's economy continues to remain under pressure. Its gross domestic product shrank last week, and its manufacturing sector is still in contraction territory.
The US Conference Board
The US Conference Board consumer confidence figures for November were released today. Economists anticipate the index to fall to 101 in November from 102.6 the previous month.
easyJet
easyJet swings to profit, posting a profit before tax of £455 million, a £633 improvement on last year's full-year results. It also reinstates its dividend, with 4.5 pence per share payable in early 2024.
Hewlett-Packard Enterprise
Hewlett Packard Enterprise will report earnings after the market closes today and will no doubt be looking to meet market expectations as it has done the last four quarters. The IT services group is expected to report fiscal fourth-quarter earnings of $0.50 per share on revenue of $7.35 billion. Investors will likely be keeping track of its Edge product performance figures. Last month, the company issued full-year fiscal 2024 adjusted earnings guidance of $1.82 to $2.02 per share. Analysts had been expecting $2.15 per share.
Oil
Oil prices were little changed on Tuesday. The delayed OPEC+ meeting will take place now on Thursday, with individual quotas and supply cuts remaining central to the meeting, which oil traders will be watching closely. Of course, should OPEC ramp up its supply cuts, this could jolt oil markets higher as markets adjust to a world of lower oil supply.
Gold
Gold continues to push above the $2,000 level, last seen in mid-May. The precious metal is being fuelled by expectations that the US Federal Reserve will not raise interest rates further. Meanwhile, silver has steadied at a three-month high.
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