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  • 11 months ago
U.S. stock futures are inching higher on Thursday after markets ended lower on Wednesday, amid growing concerns regarding a “hiring recession” following the November jobs report, which was released on Tuesday.

Traders and investors will be looking forward to the November Consumer Price Index, which is due later today, as a key inflation read that could provide the much-needed catalyst the markets need to set the tone for the final few trading days of the year.

Meanwhile, the 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.46%. The CME Group’s FedWatch tool‘s projections show markets pricing a 73.4% likelihood of the Federal Reserve leaving the current interest rates unchanged.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.23% at $672.95, while the QQQ advanced 0.55% to $603.70, according to Benzinga Pro data.

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00:00all right green arrows across the board following the sell-off yesterday s&p futures up by four
00:12tenths or 0.4 percent here today dow futures up by 0.17 percent and the nasdaq leading the way
00:19higher at 0.77 percent let's take a look at some cues from last session on wednesday information
00:27technology consumer discretionary and communication services were in the green while others saw
00:33declines which was led by energy health care real estate and financials u.s stock futures are inching
00:41higher on thursday ahead of the uh after the markets ended lower on wednesday i beg your pardon
00:46mid-growing concerns regarding a hiring recession following the november jobs report which was
00:51released on tuesday traders and investors will be looking forward to the november consumer price
00:56index which is due later today as a key inflation read that could provide the much-needed catalyst
01:02for markets to set the tone for the final few trading days of the year meanwhile the 10-year treasury bond
01:09yielded 4.13 percent and the two-year bond was at 3.46 percent now we have several stocks in focus here
01:17for you today the first one is going to be accenture ticker acn um accenture are down 0.27 percent
01:27overnight looking at the chart now closed at 273 74 currently sitting at 265 98 it's actually down
01:35more than that now ahead of the company's uh first or fiscal first quarter results before the market opens
01:40on thursday so we actually have those results now uh the estimate was 373 on the eps the actual was
01:49394 so we got a beat there um let me actually pull it up in pro and i'll get you those sales numbers but
01:55looks like a uh mixed report there for accenture it did initially trade higher before reversing and
02:00going lower i think that conference call is actually ongoing uh right now the next stock on our list is
02:07going to be micron and that's probably why we're seeing some green arrows here today
02:11semiconductor giant micron ticker mu is up 9.61 percent in the overnight trade that actually took
02:18another leg higher here uh recently in the pre-market so it's up more than that now um
02:24following better than expected first quarter performance with a strong outlook for the second
02:29quarter and we'll dive into micron when we take a look at it in pro here it was definitely the guide
02:36uh that really caused us to trade higher i mean it was it was a good earnings beat on the top and
02:42the bottom line but really the guide is is what did it and this has been a common theme what we've
02:47been talking about uh recently let me go ahead and actually pull this up here real quick because
02:52it's worth mentioning so the eps beat 478 beat the estimate of 395 sales of 13.64 billion beat the
03:00estimate of 12.8 billion that was just for the last quarter q2 sales the estimate was 14.16 billion
03:07they guided to 18.3 to 19.1 so just a just a massive guide higher uh and that's why we're seeing micron
03:16trade so well here this morning that stock is definitely going to be one of the stocks in focus
03:21fedex is our next stock on that list that's ticker fdx it's down 0.07 percent basically unchanged in the
03:29pre-market ahead of the company's fiscal second quarter results after the market close on thursday
03:33so we're going to get fedex tonight analysts expect the company to post 4.10 per share on revenue of
03:3922.79 billion the next stock on our list here is furniture company miller knoll we don't really ever
03:45talk about this once it's exciting that it's on the list here ticker is mlkn and it was up 7.02 percent
03:52following the company's better than expected second quarter performance and robust guidance
03:57for the current quarter the last stock on our list is going to be nike ticker nke shares were up 0.44
04:04percent overnight ahead of the company's fiscal second quarter results after the market closed
04:09on thursday leading analysts expect the company to post 38 cents per share in earnings on revenue of
04:1412.22 billion
04:16you

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