Former White House chief of staff says Democrats overpromised and under delivered on their promises to Americans on ‘Fox Business Tonight.’
U.S. stock futures are marginally higher as Federal Reserve Chairman Jerome Powell heads to Capitol Hill.
The Nasdaq Composite is leading by 0.3% after ending the prior session higher, followed by the S&P 500 and Dow Jones Industrial Average, both reversing declines from Monday’s choppy session.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 36068.87 | -162.79 | -0.45% |
| SP500 | S&P 500 | 4670.29 | -6.74 | -0.14% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14942.827898 | +6.93 | +0.05% |
Powell, in prepared remarks, will tell lawmakers the central bank remains committed to fighting inflation at his reconfirmation hearing, which begins at 10 am ET. Consumer and producer prices, due out Wednesday and Thursday, are expected to rise 7% and 9.8%, respectively.
HERE’S WHERE SURGING PRICES ARE HITTING CONSUMERS THE MOST
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 56.16 | -0.51 | -0.90% |
Oil is also higher, approaching the $79-per-barrel level.
In stocks, American Airlines shares are rising after disclosing, in an SEC filing, revenues will be better than expected.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAL | AMERICAN AIRLINES GROUP INC. | 18.79 | -0.49 | -2.54% |
“The Company expects its fourth quarter total revenue to be down approximately 17% versus the fourth quarter of 2019, which is better than the Company’s previous guidance of down approximately 20%,” the company disclosed.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CVS | CVS HEALTH CORP. | 105.06 | +0.87 | +0.83% |
| RAD | RITE AID CORP. | 12.77 | -0.26 | -2.00% |
| WBA | WALGREENS BOOTS ALLIANCE INC. | 53.73 | -0.11 | -0.20% |
CVS Health boosted its outlook for the full year with profit goals now forecast to be as high as $8.38 per share, above the $8 previously disclosed. Demand for COVID-19 vaccines and tests are helping drive profits.
