Stock Market Winners & Losers: Stocks Slide as Nov. Rally Pauses | Retailer Issue Muted Forecast| Existing Home Sales Tanked Last Month

Loser: Stocks slide as November rally pauses
• Stocks are down as traders assessed some disappointing retail results and looked ahead to the release of the Federal Reserve meeting minutes.
• The minutes from the Fed’s Nov.1 meeting are slated for release at 11 a.m. PT.
• Earnings tonight from Nvidia and HP. Nvidia shares hit an all-time high on Monday.

Other Stories
• Amazon is lower on reports that former CEO Jeff Bezos may be selling 8 to 10 million more shares, after offloading1.67 million shares last week.
• Zoom lifted its 2024 outlook fueled partly by strong customer loyalty and expanding usage of tools. $64 dollar stock was $458 in pandemic.
• Exit: Companies including Apple, Disney, and Comcast halted ads on X after Elon Musk supported a post saying that Jews were stoking hatred against white people. Musk has been accused of allowing antisemitic abuse on X.
• Ford to scale back plans for $3.5 billion battery plant as EV demand disappoints, labor costs rise
• Millennials say they need $525,000 a year to be happy. Loser: Retailers Issue Muted Forecasts
• Retailers have been concerned that demand will be tepid over the holiday and have issued a string of muted forecasts.
• Consumers are still preferring to spend on experiences instead of goods.
• Best Buy Cuts Forecasts as Sales Fall Short. Consumer Demand Is 'Uneven.'
• Best Buy said its discounts this holiday season are going to be bigger than last year’s to stimulate demand.
• Shares of American Eagle plummet 17% on unimpressive holiday forecast
• Abercrombie & Fitch followed with muted commentary about the holiday season and next year.
• Lowe's Sales Disappoint as Consumers Pull Back. T. Slow home sales and high interest rates are hurting sales of home-improvement products.
• High earners will help the Luxury PLayers. LVMH Moët Hennessy Louis Vuitton, Tapestry Hermes and Capri Holdings
• Value Players. Walmart, Costco, Amazon.com will be fine but for those in the middle it might be disappointing Christmas.

Loser: Existing Home Sales tanked last month to a 13-year low
• Sales of previously owned homes were 4.1% lower in October compared with September,
• It was the slowest sales pace since August 2010.
• Sales were down 14.6% year-over-year.
• The average mortgage rate rose sharply, jumping over 8% by mid-October.
• Rates have since retreated somewhat.
• Problems include persistent lack of housing inventory and the highest mortgage rates in a generation.
• Multiple offers are still occurring on starter and mid-priced homes,
• Price concessions are happening in the upper end of the market.
• At the current sales pace, that represents a 3.6-month supply. a six-month supply is considered a balanced market between buyer and seller.
• The median price of an existing home sold was $391,800, an increase of 3.4% from a year ago ($378,800).

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0:00 Loser: Stocks slide as November rally pauses
2:10 Loser: Retailers Issue Muted Forecasts
3:49 Loser: Existing Home Sales Tanked