In Friday’s pre-market, U.S. index futures are seeing a slight increase, marked by a shorter than usual trading session. Investors are paying special attention to economic activity indicators set to be announced late in the morning. U.S. market operations will conclude earlier, at 1:00 PM. As of 5:25 AM (Brasília time), the yield on 10-year Treasury notes was at 4.474%.

In the commodities market, West Texas Intermediate crude oil for January fell 0.49% to $76.72 per barrel. Brent crude oil for January rose 0.26%, close to $81.63 per barrel. Iron ore with a concentration of 62%, traded on the Dalian exchange, rose 0.61% to $137.94 per ton.

On the economic agenda this Friday, investors are waiting for the November Purchasing Managers’ Indexes (PMIs) at 09:45 AM.

European markets are showing mixed performance, with investors in the region maintaining a cautious stance. The confirmation of a 0.1% drop in Germany’s monthly GDP in the third quarter was released on Friday, with an annual decrease of 0.8%. Additionally, investors are attentive to a speech by the president of the European Central Bank, Christine Lagarde.

Asian markets closed mixed, reacting to recent economic data from Japan. The country’s underlying inflation increased to 2.9% in October, with the overall rate reaching 3.3%. However, Japanese industrial activity continued to decline in November, with the manufacturing PMI dropping to 48.1, the lowest since February. Major indexes in the region showed varied results: Shanghai SE fell 0.68%, Nikkei rose 0.52%, Hang Seng Index went down 1.96%, Kospi decreased 0.73%, and ASX 200 had a slight increase of 0.17%.

At Wednesday’s close, the Dow Jones rose 0.53% and the S&P 500 gained 0.41%, reaching its best close in three months, while Nasdaq advanced 0.46%. Optimism regarding interest rates and reduced concerns about the conflict in the Middle East were positive factors. However, trading activity was moderate due to the holiday. Moreover, economic reports showed a drop in unemployment insurance claims but a decrease in U.S. durable goods orders. Retail and airline stocks showed strength, while other sectors had more modest movements.

Wall Street Corporate Highlights for Today

Apple (NASDAQ:AAPL) – During China’s Singles Day shopping festival, Apple’s smartphone sales fell 4%, while Huawei and Xiaomi (USOTC:XIACF) saw increases of 66% and 28%, respectively. Apple’s decline contrasts with the overall 5% increase in Chinese smartphone sales.

Foxconn (USOTC:FXCOF) – Foxconn founder Terry Gou has withdrawn his candidacy for the presidency of Taiwan, prioritizing the future of the country. He expressed hope that an opposition candidate would defeat the Democratic Progressive Party in the January elections. Gou stepped down despite his long-held political ambitions, stating he was sacrificing for the greater good of Taiwan.

Amazon (NASDAQ:AMZN) – Workers and activists in Europe plan to protest against Amazon on Black Friday, targeting warehouses to delay deliveries on one of the busiest shopping days. In Germany, employees will strike for better wages, while similar actions will occur in the UK. Additionally, Amazon is close to receiving EU antitrust approval for its $1.4 billion purchase of iRobot (NASDAQ:IRBT), the maker of the Roomba robotic vacuum cleaner.

Broadcom (NASDAQ:AVGO) – Broadcom has finalized its acquisition of VMware (NYSE:VMW) for $69 billion, after receiving regulatory approval from China. This major deal, part of CEO Hock Tan’s efforts to expand Broadcom’s software business, faced several delays and global regulatory scrutiny before completion.

Nvidia (NASDAQ:NVDA) – Nvidia recorded a 0.84% drop in Friday’s pre-market trading. According to Reuters, citing sources familiar with the matter, the semiconductor manufacturer has informed its customers in China about the postponement of a new artificial intelligence chip launch. This delay, now expected in the first quarter of 2024, aims to comply with U.S. export regulations.

Intel (NASDAQ:INTC) – A recent court decision could result in the loss of billions of euros in subsidies for Intel, earmarked for new chip factories in the state of Saxony-Anhalt, Germany. The state’s Minister of Economics warned of significant economic and reputational damage if Germany cannot sustain such projects.

Walmart (NYSE:WMT) – Retail sales are expected to grow 3% to 5% this season compared to last year, aligning with the average annual growth before the Covid-19 pandemic, according to the National Retail Federation. Walmart, the global retail leader, is well-prepared for the holidays, according to TD Cowen analyst Oliver Chen. Walmart has excelled in maintaining competitive prices and providing a convenient and satisfactory shopping experience.

Macy’s (NYSE:M) – Over 400 Macy’s employees in Washington plan a three-day strike, starting on Black Friday through Sunday, demanding better wages and denouncing unfair labor practices, as announced by UFCW Local 3000. The strike, beginning on November 24, will include a parade at Southcenter Mall and affect three of the chain’s busiest stores.

Vista Outdoor (NYSE:VSTO) – Vista Outdoor announced that its board is considering an acquisition proposal from Colt CZ Group, valuing the outdoor and sports equipment company at $30 per share. Colt’s proposal follows Vista’s merger announcement with Czechoslovak Group, an industrial technology company from the Czech Republic, made in October. Vista Outdoor’s shares closed Wednesday at $25.75.

Alibaba (NYSE:BABA) – Alibaba Group is revitalizing its cloud unit, appointing three new leaders to Alibaba Cloud Intelligence. This restructuring, focused on growth and AI, follows the decision not to spin off the $11 billion division, aiming to recover market share. Alibaba executive Jiang Fang clarified that the coincidence of Jack Ma’s fund’s stock sale announcement on the same day as the cloud unit’s dismantling caused misunderstandings, affecting Alibaba’s market value.

FedEx (NYSE:FDX) and United Parcel Service (NYSE:UPS) – Amid competition for market share and a crisis in delivery demand, FedEx and UPS are expanding return services to help retailers reduce product return costs. With the U.S. recording 16.5% in returns last year, these services aim to lower the average cost of processing returns, estimated at $33. FedEx is expanding its consolidated return services, and UPS acquired Happy Returns to strengthen its e-commerce return operations.

DraftKings (NASDAQ:DKNG) – DraftKings shares, which surged 240% in 2023, were recently sold by Cathie Wood’s ARK Innovation fund, signaling a possible profit-taking strategy. Wood sold 228,108 shares, totaling $8.8 million, following a remarkable increase in the company’s value and monthly paying customers. Despite the sale, most analysts remain optimistic about the online sports betting company’s shares.

Disney (NYSE:DIS) – With the recent partnership between the BBC and Walt Disney, “Doctor Who,” the British science fiction series, will now also be globally streamed on Disney+, while the original series remains available on BBC iPlayer. The series, which has spawned a wide range of collectibles, faced challenges including a 16-year hiatus but continues to evolve and reach new audiences.

Citigroup (NYSE:C) – Following a sexual harassment lawsuit against Citigroup, executive Andy Morton asked employees to report inappropriate behaviors. Morton emphasized the zero-tolerance policy for discrimination and harassment, encouraging the reporting of incidents through official channels without fear of retaliation.

Barclays (NYSE:BCS) – Barclays plans to save up to $1.25 billion, possibly cutting up to 2,000 jobs, focusing on back-office operations. Under the leadership of CEO Venkatakrishnan, the bank aims to increase profitability, with cuts in Barclays Execution Services. The restructuring is part of a goal to reduce operational expenses.

Stellantis (NYSE:STLA) – Stellantis will increase its 2030 revenue target for its recycling and reconditioning unit after a 25% increase in revenues this year. CEO Carlos Tavares states that this business will help make electric vehicles more affordable amid rising costs and material shortages.

General Motors (NYSE:GM) – GM’s Cruise plans to relaunch its robotaxi service in a new city after California banned autonomous vehicles due to a recent accident. This setback caused internal disruptions and executive resignations. Cruise, focusing on safety and rebuilding trust, will concentrate its efforts on autonomous vehicles, planning gradual expansion after proving its performance.

Novo Nordisk (NYSE:NVO) – French President Emmanuel Macron will inaugurate a $2.3 billion investment by Novo Nordisk in France, highlighting the revitalization of the country’s industrial competitiveness. The Danish company, known for the drug Wegovy, will expand in Chartres, creating 500 jobs.

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