Gap, Deere, HP, Nikola: What to Watch When the Market Opens Today
November 25 2020 - 8:03AM
Dow Jones News
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 up 0.1%, and Dow futures
edged down 0.1%. Nasdaq-100 futures were up 0.4%. -- What's coming
up. U.S. durable-goods orders, due at 8:30 a.m. ET, are expected to
increase for the sixth consecutive month, though some economists
are forecasting a lackluster gain amid signs the recovery is losing
momentum. Applications for unemployment benefits are expected to
remain elevated in the week ended Nov. 21. Economists expect that
data release at 8:30 a.m. will show unemployment claims ticked down
to 733,000 last week from 742,000 a week earlier.
-- 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 1.9% premarket after the farm-equipment maker
reported higher-than-expected net sales.
-- Gap fell more than 10% 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 4.9% after the computing equipment maker's revenue
beat analysts' expectations.
-- Fellow PC maker Dell rose 0.8% after reporting per-share
profit that came in ahead of analysts' expectations.
-- Electric-truck maker Nikola plunged almost 12% before the
bell.
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(END) Dow Jones Newswires
November 25, 2020 07:48 ET (12:48 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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