Weekly market recap
Stocks are coming off a losing week after last month's consumer price index made its largest annual increase in more than three decades. The major averages snapped a five-week winning streak.
The $Dow Jones Industrial Average(.DJI.US)$ dipped 0.6% and the $S&P 500 Index(.SPX.US)$ eased 0.3% last week. The tech-focused $Nasdaq Composite Index(.IXIC.US)$ was the main underperformer, dropping 0.7% as rising bond yields dented growth pockets of the market.
Here's a look at the return of S&P 500 sectors
This week ahead in focus
Third-quarter earnings season is entering the period when retailers dominate the daily reports. Big names will include Advance Auto Parts on Monday, followed by Walmart and Home Depot on Tuesday. Then Target, Lowe's, and TJX report on Wednesday and Alibaba Group Holding go on Thursday.
Non-retail highlights on the earnings calendar this week will include Lucid Group and Tyson Foods on Monday, Nvidia and Cisco Systems on Wednesday, and Applied Materials on Thursday.
Economic data releases this week include the Census Bureau's October retail-sales report on Tuesday and the Conference Board's Leading Economic Index for October on Thursday. Both are forecast to have climbed 0.8% from September.
Monday 11/15
$Advance Auto Parts(AAP.US)$ , $Lucid Group(LCID.US)$ , $Tyson Foods(TSN.US)$ , and $Warner Music(WMG.US)$ release quarterly results.
$Automatic Data Processing(ADP.US)$ hosts its 2021 investor day in Roseland, N.J.
Tuesday 11/16
$Walmart(WMT.US)$ reports third-quarter fiscal-2022 earnings before the opening bell. Shares of the retail behemoth have trailed the S&P 500 by 21 percentage points this year, despite Walmart raising full-year guidance.
$Home Depot(HD.US)$ and $TransDigm(TDG.US)$ report earnings.
$Cboe Global Markets(CBOE.US)$, $Enphase Energy(ENPH.US)$, $Hartford Financial Services(HIG.US)$, and $Qualcomm(QCOM.US)$ hold their annual investor days.
$Bristol-Myers Squibb(BMY.US)$ hosts an investor meeting in New York. CEO Giovanni Caforio will discuss the company's drug pipeline and strategic opportunities.
The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for November. Consensus estimate is for an 80 reading, even with the October figure. The index is off about 10% from its peak late last year, but home builders remain bullish on the housing market.
The Census Bureau reports on retail-sales spending for October. Expectations are for 0.8% month-over-month increase in retail sales. Excluding autos, spending is seen rising 0.9% This compares with gains of 0.7% and 0.8%, respectively, in September.
Wednesday 11/17
$Cisco(CSCO.US)$ , $Lowe's Companies(LOW.US)$ , $NVIDIA(NVDA.US)$ , $Target(TGT.US)$ , and $TJX Companies(TJX.US)$ announce quarterly results.
The Census Bureau reports new residential construction data for October. Economists forecast that privately owned housing starts will increase 2.2% to a seasonally adjusted annual rate of 1.59 million.
Thursday 11/18
$Alibaba(BABA.US)$ , $Applied Materials(AMAT.US)$ , $Intuit(INTU.US)$ , $JD.com(JD.US)$ , $Ross Stores(ROST.US)$ , and $Workday(WDAY.US)$ hold conference calls to discuss earnings.
$Cognizant(CTSH.US)$ , $Ingersoll Rand(IR.US)$ , and $Stryker Corp(SYK.US)$ host investor meetings.
$Johnson & Johnson(JNJ.US)$ holds an investor meeting to discuss its pharmaceuticals business.
Liberty Media hosts its annual investor meeting in New York. Companies presenting at the event are a mix of those owned by Liberty and those in which Liberty has a sizable stake, including the Atlanta Braves, $Charter Communications(CHTR.US)$, $Live Nation Entertainment(LYV.US)$, and $TripAdvisor(TRIP.US)$.
The Conference Board releases its Leading Economic Index for October. The consensus call is for a 0.8% monthly gain, to a 118.4 reading. The Conference Board is currently projecting a 5.7% GDP growth rate this year.
Friday 11/19
$Foot Locker(FL.US)$ reports earnings for its fiscal third quarter.
Source: CNBC, Dow Jones Newswires, jhinvestments

Kobe Bryant, the late NBA legend, was not just a basketball player.
One of his big investments paid off big time. In 2014, Bryant purchased 10% of BodyArmor, a Gatorade competitor, for $6 million.
Last week, $Coca-Cola(KO.US)$ announced it acquired full ownership of BodyArmor, paying $5.6 billion in cash, valuing BodyArmor around $8 billion. The company had purchased a minority stake in 2018.
With that valuation, Bryant's 10% investment is estimated to be worth around $800 million today. That puts his returns from $6 million to $800 million around a 13,222% gain in less than eight years. 
He still amazed us after he left.
Mamba Forever!

Stocks drop as growth concern lingers; oil falls
U.S. stocks dropped from all-time highs, with shares of small companies leading declines, and Treasuries gained on an uptick in growth concerns.
The $S&P 500 Index(.SPX.US)$ and $Dow Jones Industrial Average(.DJI.US)$ fell after setting closing records Tuesday. The tech-heavy $NASDAQ 100 Index(.NDX.US)$set an intraday record before closing barely in the green with $Alphabet-A(GOOGL.US)$, $Amazon(AMZN.US)$ and $Tesla(TSLA.US)$ rallying. $Robinhood(HOOD.US)$ slumped after missing revenue estimates. The $iShares Russell 2000 Growth ETF(IWO.US)$ slumped 1.9%, the biggest decline since late September.
El Salvador 'buys the dip' and acquires another 420 bitcoins
El Salvador bought another 420 Bitcoins to take advantage of its recent price drop, President Nayib Bukele said in a post on Twitter.
The country has bought a total of 1,100 of the coins since Bukele announced the first purchases on Sept. 6.
Alphabet on verge of $2 trillion valuation after earnings surge
$Alphabet-A(GOOGL.US)$ is within striking distance of reaching a $2 trillion valuation for the first time after a strong earnings report sent its shares soaring.
The Google-parent's shares rose to a record on Wednesday with an advance of as much as 6.7%. The gains added more than $110 billion to Alphabet's market valuation, which now stands at about $1.97 trillion, according to Bloomberg data.
Spotify ad business boosted by podcasts
$Spotify Technology(SPOT.US)$'s big bet on podcasts appears to be paying off.
Third-quarter advertising revenue increased 75% from a year earlier, and user growth picked up after a lull earlier this year. Spotify is now the top podcast platform in the U.S. by listeners, according to Edison Research, passing incumbent Apple Podcasts in the largest market. Paying subscribers, its most lucrative type of customer, also climbed 19% to 172 million, in line with the company's guidance range.
Hertz links up with Uber to offer 50,000 Tesla rentals
$Hertz Global Holdings, Inc.(HTZZ.US)$ said Wednesday it is linking up with $Uber Technologies(UBER.US)$ to make 50,000 $Tesla(TSLA.US)$ available in Uber's ride-sharing network by 2023, the latest in the rental-car company's efforts to build momentum postbankruptcy.
The Teslas that Hertz plans to add to the Uber network will come from the initial 100,000 vehicle order and future orders as the program grows.
Elon Musk's net worth approaches $300 million
Musk's net worth is approaching $300 billion, putting him tens of billions of dollars ahead of the rest of the world's richest people.
Remember dogecoin? A rival 'meme token' just hit a record high and is close to overtaking it
Shiba inu has surged 30% in the last 24 hours, according to data from CoinGecko, hitting a record high above $0.00006. With a market capitalization of more than $29 billion, shiba inu is now the 11th-largest cryptocurrency. Shiba inu is a so-called meme token that bills itself as a "dogecoin killer."
Profit falls at GM and Ford as chip shortage takes toll
The two largest U.S. auto makers reported steep drops in third-quarter profit as chip shortage dented factory output, and each said the problem would leave dealership lots nearly bare well into 2022.
$General Motors(GM.US)$, which cut vehicle shipments in North America by nearly half in the July-to-September period, said Wednesday that its net profit dropped 40% in the third quarter, while $Ford Motor(F.US)$ reported a 23% decline in net income compared with the same year-ago quarter.
Source: Bloomberg, WSJ, CNBC

$Facebook(FB.US)$ plans to change its company name next week to reflect its focus on metaverse. But why would a famous company change its name suddenly? How about replacing the CEO? $Apple(AAPL.US)$ would never change its name to Banana, right?
I guess Facebook wants to escape from its recent reputational damage. I still remember its hours-long outage, scrutiny from Congress and criticism from the public. These can't be fixed by a name change. I would definitely put my money into other mega-cap tech stocks like Apple, $Microsoft(MSFT.US)$, $Amazon(AMZN.US)$ and $Alphabet-A(GOOGL.US)$ rather than Facebook!
But anyway, how would you rename Facebook if you were Zuckerberg? Are you positive about Facebook and why?
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$Cleveland-Cliffs(CLF.US)$ disappointing that this isn't stonk

$Sunpower(5GD.SG)$ why the chart is different from yesterday? the 52weeks high only 0.889? yesterday like 1.02?