Dow Futures
Dow futures contract had fallen 53 points, or 0.15%, the S&P 500 futures were essentially steady, and the Nasdaq 100 futures had fallen 47 points, or 0.30%.
- Nonfarm payrolls are on the way, but U.S. futures are quiet – what’s driving markets?
- Wage growth in the United States, which was once an inflation danger, may now be the necessary prop for a smooth landing.
- The Tesla Cybertruck’s rigid frame and sharp design present safety issues, according to experts.
- FedEx is being sued in the United States for racketeering by a former delivery> contractor.
- Apple is moving forward with ambitions to expand its manufacturing beyond China.
- Grafton Group expands its buyback program and increases its fund to £100 million.
- Honeywell will pay $4.95 billion for Carrier’s security division.
- Investors are keeping a watch on payrolls statistics for signals about interest rates.
- Nvidia of the United States is slated to negotiate semiconductor deals in Vietnam next week.
- Lululemon Athletica falls 3% after failing to raise outlook despite beating earnings expectations.
- Microsoft’s stock drops as the UK’s Competition and Markets Authority seeks feedback on a relationship with OpenAI.
- Nvidia is looking for a partner for AI cloud infrastructure in Johor Bahru.
- Analysts defend Broadcom as yearly projection falls short following a fourth-quarter earnings beat.
- Marex will apply for an IPO in New York with a valuation of up to $2.8 billion.
- Cathay Pacific has agreed to buy six A350 freight planes from Airbus.
- For insider trading, an ex-Apple lawyer was sentenced to probation.
- Cathay Pacific has selected Airbus over Boeing for its cargo deal.
- Nikkei reports that Apple will relocate key iPad engineering resources to Vietnam.
- Strong job growth in the United States in November as strikes stop; trend slowing
- Apple plans to manufacture more than 50 million iPhones in India each year, according to the Wall Street Journal.
- Fenbo Holdings lists on the Nasdaq and plans to expand using IPO proceeds.
- World Kinect declares a $0.14 per share dividend to stockholders.
- Bank of America plans to eliminate more locations in New Jersey by 2024.
- Take-Two Interactive’s stock drops on GTA VI delay fears.
- According to the Teamsters union, UPS fires approximately 35 newly organized US workers.
- Walgreens stock is up 8% as a result of Tylenol lawsuit developments.
- Planet Labs’ revenue increased by 11% in the third quarter and is expected to climb further in fiscal year 2024.
- American Express shares have recovered following a market upswing.
GLOBAL NEWS
- The Nifty 50 is up 0.33% at the closing of trade in India.
- At the close of trading, Australian equities were up; the S&P/ASX 200 was up 0.30%.
- At the close of business in Japan, the Nikkei 225 was down 1.77%.
- The European Union’s watchdog has directed leading credit rating agencies to conduct a review of CLO rules.
- Bank of Ireland gives executives €240,000 in stock options.
- ADB and JICA will announce new Asia-Pacific infrastructure fund
- Joby Aviation stock rises in Japan as a result of the vertiport cooperation.
- Workers at Thyssenkrupp caution against a hostile management style.
- China has appointed Zhu Hexin as the new head of the country’s foreign exchange regulator.
- The yen is on track for a significant weekly gain, while the Nikkei is falling as Japan prepares to raise interest rates.
- FAO reports that global food prices were stable in November.
- In November, investment in equity mutual funds in India fell.
- The Bank of England will maintain its stance on rate cuts.
- McDonald’s Australia is facing a class action lawsuit over unpaid overtime.
- India maintains rates in the face of robust growth in order to keep an eye on inflation.
- Fear of cheap Chinese EVs drives automakers to seek out more economical vehicles.
- Asian stocks are mixed ahead of US payrolls, with the Nikkei being hit by the BOJ’s aggressive stance.
- Asia FX is subdued as nonfarm payrolls approach; the yen reaches a four-month high.
- The RBI maintains interest rates at 6.5%, citing food inflation as a reason to keep policy tight.
- Cathay Pacific has selected Airbus over Boeing for its cargo deal.
- EU ministers require more time to reach an agreement on new budgetary regulations.
- Toshiba and Rohm will invest $2.7 billion to create power processors together.
- As consumption falls, Japan’s third-quarter GDP falls quicker than expected.
- Competition and price issues shroud the $52 billion Woodside-Santos deal.
- According to a Reuters survey, the BOJ tankan will reveal that the mood of manufacturers is improving.
- Wolseley has agreed to buy Kooltech under CMA terms.
Economic Data
Weekly Jobless Claims climbed to 220,000 in the latest week vs. consensus 222,000 and from 219,000 the prior week; the 4-week moving avg climbed to 220,750 from 220,250 prior; continued claims fell to 1.861M from 1.925M the prior week.
October Wholesale sales (-1.3%) vs Sept +2.0% while Oct wholesale inventories revised to (-0.4%) vs. consensus (-0.2%) from -0.2%; stock/sales ratio 1.34 months’ worth vs Sept 1.33 months.
World News
Economic Calendar
8:30 AM ET Nonfarm payrolls for November
8:30 AM ET Private Payrolls for November
8:30 AM ET Manufacturing Payrolls for November
8:30 AM ET Unemployment Rate for November
8:30 AM ET Average Hourly Earnings M/M for November
10:00 AM ET University of Michigan Confidence, Dec-Prelim
10:00 AM ET University of Michigan inflation expectations for 1-yr and 5-yr
1:00 PM ET Baker Hughes Weekly rig count data
Other Key Events
Goldman Sachs First Annual “Year-Ahead” Catalyst Clinic, 12/4-12/8 (virtual)
San Antonio Breast Cancer Symposium, 12/5-12/9, in San Antonio, TX
China CPI, PPI for November
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