Good morning and welcome to this week’s edition of Bulls and Bears. If you are a new follower, here’s a lowdown of what i do.

Its a thread i do on my twitter handle on stocks local and foreign with a dash of economics and crypto.

You can get this thread as an abridged piece on my substack up at 8.30am on Mondays. I do a more elaborate version here  

Starting with the NGX. 

The NGX All Share Index gained 0.11%. The index measures the average performance of stocks on the exchange.

Eunisell was the best performing stock last week. It appreciated by 60.72% to close at N19.27. 

Other notable gainers were Lafarge Africa and Unilever.

Mecure led the week’s losers. It fell by 18.5% to close N10.55

Aradel was marked down by N8. A markdown is when a stock’s price is adjusted downards due to a dividend or bonus.

Haldane McCall (the company behind the Suru franchise) listed its shares last week. 3.12 billion ordinary shares were listed at N3.84 per share. The firm also held a facts behind the listing session on the same day.

What’s happening this week on the NGX?

Eunisell will be holding its Annual General Meeting on Tuesday.

On the macro front, the Central Bank of Nigeria, has its last MPC meeting for the year. The CIBN will hold its annual bankers dinner this Friday.

Moving to the United States

The S&P 500 gained 1.7%. The Nasdaq Composite as well.

The Dow did better than both appreciating by 2.0%

A bunch of earnings came in within the week, the most prominent being Nvidia, Target and Walmart.

Nvidia dropped its third quarter earnings. The chip maker made $35.08 billion in revenue and an earnings per share of 81 cents. That was better than analyst estimates but it seemed investors wanted more as the stock dipped slightly in trading that day.

Target shares tumbled after it dropped earnings that were lower than analyst estimates and revised its full year profit guidance downwards, 3 months after hiking it. 

Chief Commercial Officer Gomez during the earnings call said

“Consumers have become increasingly resourceful and strategic on how they shop,” he said. “They know deals are out there. They’re willing to search for them, and they’ll wait for the exact right moment to head into our stores or log on to our app.”

It made $25.6 billion in revenue and an earnings per share of $1.85 

Walmart fared much better. It raised its full year revenue forecast and numbers came in better than analyst estimates. 

It made $169.59 billion in revenue and 58 cents in earnings 

Delta Airlines had an investor day, but id be doing a substack piece on that as im pressed for time. 

Bitcoin came within inches of the $100k mark before pulling back. 

What’s happening in the United States this week ?

This week’s trading will be abridged as the Thanksgiving holiday on Thursday. The stock market will close early on Friday.

It’s a fairly quiet week in terms of earnings. Notable names dropping theirs are Crowdstrike, Zoom and Dell.

On the macro front, personal income and outlays data for the month of October will be month. That contains data on the core pce which the Fed uses as its inflation gauge.