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Market Wrap: pre-opening session |
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U.S. market futures are little changed. On Monday, the U.S. stock market kicked off the trading week in a bullish fashion, with all major indices closing at record highs on improving U.S.-China trade relations.
The S&P 500 advanced 83 points (+1.23%) to 6,875, the Nasdaq 100 rose 463 points (+1.83%) to 25,821, and the Dow increased 337 points (+0.71%) to 47,544.
On the sector front, the outperforming sectors were Technology (XLK), Consumer Discretionary (XLY), and Communication Services (XLC), while Materials (XLB) was the only sector to finish lower.
On the stat front, in the U.S., Richmond Fed manufacturing index is estimated at -10 in October vs -17 in September.
European indices trade mostly lower on earnings release. On the stat side, Germany's GfK consumer confidence index fell to -24.1 in November vs -23 expected and -22.5 a month earlier (revised from -22.3).
Asian indices slightly declined.
WTI crude oil prices dip on media reports that OPEC+ plans a slight output increase in December.
Gold is badly oriented after breaking below 4,000 dollars.
Bitcoin consolidates below 115,000 dollars.
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Amazon.com (AMZN), the world's largest online retailer and web services provider, plans an overall reduction in its corporate workforce of approximately 14,000 roles.
UnitedHealth Group (UNH), a private health insurance provider, is well oriented after lifting full-year earnings forecast.
UPS (UPS), a global package delivery company, surges as current quarter sales guidance topped expectations.
PayPal (PYPL), an online payment firm, jumps after announcing "it will adopt the Agentic Commerce Protocol (ACP) to expand payments and commerce in ChatGPT."
Chegg (CHGG), an online educational platform, "announced a restructuring plan that includes a reduction of its global workforce, which is expected to impact approximately 388 employees, or about 45% of its current workforce."
VF Corp (VFC), a manufacturer and retailer of outdoor apparel, rises as quarterly sales beat estimates.
Nucor (NUE), a manufacturer of steel and steel products, gains ground on better-than-expected quarterly financial figures.
F5 (FFIV), a provider of Internet networking traffic products, drops on disappointing full-year guidance.
Cadence Design Systems (CDNS), an electronic design automation software and engineering services company, loses some ground as current quarter sales guidance slightly missed estimates. However, quarterly financial figures beat expectations.
DR Horton (DHI), a builder and seller of single-family detached homes, is badly oriented lower-than-expected quarterly earnings.
Avis Budget Group (CAR), a vehicle rental and mobility solution service provider, jumps as quarterly financial figures topped estimates.
Confluent (CFLT), a data streaming platform, strongly rises on better-than-expected quarterly financial figures.
Universal Health Services (UHS), an owner and operator of a variety of healthcare facilities, pops on strong earnings and guidance.
Waste Management (WM), a waste service provider, drops as quarterly financial figures disappointed investors.
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Visa (V)
UnitedHealth (UNH)
NextEra Energy (NEE)
Booking Holdings (BKNG)
American Tower (AMT)
Royal Caribbean (RCL)
Sherwin-Williams (SHW)
Mondelez International (MDLZ)
Ecolab (ECL)
Corning (GLW)
United Parcel Services (UPS)
PayPal (PYPL)
Regeneron Pharmaceuticals (REGN)
Electronic Arts (EA)
Seagate Technology (STX)
Carrier Global (CARR)
D.R. Horton (DHI)
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Earning Release:
First Quantum Minerals Ltd (FM)
The S&P/TSX Composite Index eased 0.25% to 30,276 and the S&P/TSX 60 Index was slightly down 0.10% to 1,788.
Cameco Corporation (CCO), a uranium specialist, soars after announcing "that it, along with Brookfield Asset Management, has entered into a binding term sheet with the U.S. government to establish a strategic partnership. The agreement provides for the U.S. government to arrange financing and facilitate the permitting and approvals for new Westinghouse nuclear reactors to be built in the US, with an aggregate investment value of at least 80 billion dollars."
Celestica (CLS), an electric components specialist, jumps after posting quarterly financial figures above expectations. Moreover, the company lifted full-year guidance.
TMX Group (X), an integrated exchange group, reported quarterly adjusted EPS up 27% to 0.52 dollar on sales up 18% to 418.6 million dollars. Both figures beat estimates.
Power Corporation of Canada (POW), a diversified international management and holding company, announced a 100 million dollars additional investment in financial innovator Wealthsimple. Separately, target price was raised to 60 dollars from 59 dollars in RBC.
Dye & Durham (DND), a provider of software for legal and business professionals, said it "continues to generate positive operating cash flow and maintains sufficient liquidity to service its debt obligations and day-to-day working capital needs."
Precision Drilling (PD)'s, an oil and gas industry services company, target price was raised to 79 dollars from 74 dollars at Piper Sandler.
Rogers Communications (RCI/B)', a communications and media company, target price was raised to 62 dollars from 59 dollars at JPMorgan.
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