|Delayed - 01/20 04:10:00 pm|
Gap, Deere, HP, Nikola: What to Watch When the Market Opens Today
|11/25/2020 | 08:56am|
By Mischa Frankl-Duval
Here's what we are watching as markets kick into gear Wednesday:
-- U. S. stock futures wavered a day after the Dow Jones Industrial Average breached 30000 for the first time, and as investors looked ahead to a packed day of economic data. Futures tied to the S&P 500 were down 0.1%, and Dow futures edged 0.2% lower. Nasdaq-100 futures were up 0.2%.
-- About 778,000 Americans applied for unemployment benefits in the week ended Nov. 21., up from 742,000 a week earlier. Economists had expected unemployment claims to edge down to 733,000.
-- U.S. durable-goods orders grew 1.3% in October, increasing for the sixth consecutive month. That was slower than the rate of 1.5% that economists had expected.
-- What's coming up. U. S. consumer spending has been a driving force for the recovery and economists are forecasting the sixth straight increase for household outlays in October. Data on personal spending will be released at 10 a.m.
-- The Federal Reserve releases minutes from its Nov. 4-5 meeting, a relatively uneventful session that highlighted risks to the economy from the pandemic.
Market Movers to Watch
-- Deere rose 3% premarket after the farm-equipment maker reported higher-than-expected net sales.
-- Gap fell 10.7% premarket after the clothing retailer's profit came in below Wall Street's expectations. Executives cautioned that rising Covid-19 infections could slow visits to stores during the critical holiday shopping period.
-- HP climbed 5.2% after the computing equipment maker's revenue beat analysts' expectations.
-- Fellow PC maker Dell rose 0.4% after reporting per-share profit that came in ahead of analysts' expectations.
-- Electric-truck maker Nikola plunged 15.3% before the bell.
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(END) Dow Jones Newswires