Stock futures are struggling for direction this morning, as investors unpack more jobs data following yesterday's weak ADP employment report. Challenger, Gray & Christmas said layoff plans totaled 71,321 in November, bringing the 2025 total up to 1.17 million -- the highest level since 2020. Meanwhile, initial jobless claims for last week came in at 191,000, the lowest level since September 2022, though likely exacerbated by the Thanksgiving holiday. Amidst the data deluge, hopes for a interest rate cut remain high, with CME"s FedWatch tool showing an 89.2% chance the Fed cuts rates next week.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 2.1 million call contracts and more than 1.2 million put contracts exchanged on Wednesday. The single-session equity put/call ratio rose to 0.58, while the 21-day moving average remained at 0.58.
- Dollar General Corp (NYSE:DG) stock is up 6.9% premarket, after the discount retailer posted better-than-expected third-quarter earnings of $1.28, driven by strong operating margins, and lifted its full-year earnings guidance. Revenue came in line with estimates. Coming into today, the equity is up 44.9% year to date.
- Blue-chip cloud name Salesforce Inc (NYSE:CRM) is 2% higher before the bell after mixed third-quarter results, with earnings of $3.25 beating estimates. The company also lifted its revenue outlook, citing AI adoption. The stock is still in a broader slump however, down 28.6% since the start of the year.
- Five Below Inc (NASDAQ:FIVE) stock is up 3% in electronic trading, after the fellow discount retailer's third-quarter results handily beat expectations, with earnings of 64 cents per share nearly tripling analyst estimates. Should these gains hold, FIVE will mark a fresh 52-week high. Year to date, the equity is up 55.4%.
- Plenty of economic data is due out this week, including some previously delayed indicators.
Asian Tech Stocks Rise, European Markets Inch Higher
Investors in Asia are eyeing next week’s interest rate decision out of the U.S. Tech continued to rally on Thursday, with Softbank adding 9% after yesterday’s surge. Renesas Electronics also soared, as talks reportedly began for its timing unit to be purchased by California-based peer SiTime Corp (SITM). For the session, Japan’s Nikkei added 2.3% and Hong Kong’s Hang Seng rose 0.7%. Sliding into the red, China’s Shanghai Composite and South Korean Kospi fell 0.06% and 0.2%, respectively.
Sentiment is improved in Europe, with all indexes in the black. France’s President Emmanuel Macron is scheduled to speak with Chinese President Xi Jinping today, with the former expected to push for more cooperation on a peace deal between Ukraine and Russia. The European construction purchasing managers’ index (PMI) as well as retail and car sales data are slated for release later today. At last check, London’s FTSE 100 is up 0.09%, Germany’s DAX is 0.9% higher, and France’s CAC 40 has tacked on 0.4%.
