Dow Futures Gain Ground Ahead of Thanksgiving Holiday

The S&P and Nasdaq are looking to notch fresh highs again today

by Lillian Currens

Published on Nov 27, 2019 at 9:19 AM
Updated on Nov 27, 2019 at 9:20 AM

Stock futures are pointing to a positive open ahead of the Thanksgiving holiday, as U.S. President Donald Trump said the U.S. and China are in the "final throes of a very important deal." The comments followed a phone call between the two nations in which negotiations were discussed, and an agreement to keep working through the key issues was made. As a result, stocks are on track to notch fresh highs yet again.

On the economic docket, investors are poring over a 2.1% rise in gross domestic product (GDP) data for the third quarter, which exceeded analysts' expectations. Durable goods data also topped estimates with an unexpected 0.6% rise in October. 

Continue reading for more on today's market, including: 

  • The best & worst Black Friday stocks, according to Schaeffer's Senior Quantitative Analyst Rocky White. 
  • Options bulls are betting on new highs for this blue chip
  • Plus, Deere stock sputters on disappointing forecast; AAPL increases AirPod production; VMware get blasted with bull notes.

futures chart nov 27

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 974,479 call contracts traded on Tuesday, compared to 554,578 put contracts. The single-session equity put/call ratio moved down to 0.57, while the 21-day moving average came in at 0.58.
  2. Tractor issue Deere & Company (NYSE:DE) is down 4% in electronic trading. In its fiscal fourth-quarter earnings report, the agriculture-dependent firm warned that "lingering trade tensions" have impacted demand, and offered a full-year 2020 earnings outlook that missed the mark. 
  3. Shares of Apple Inc. (NASDAQ:AAPL) are inching 0.4% higher ahead of the bell after a Nikkei report said that Chinese manufacturer Luxshare has been asked to double its production of AirPods Pro earbuds to roughly 2 million units per month. 
  4. Software concern VMware, Inc. (NYSE:VMW) is set to open up 2.9% this morning after posting third-quarter earnings of $1.49 per share, and revenue of $2.46 billion, both of which beat analysts' estimates. In response, at least six brokerage firms have already lifted their price targets on VMW stock. 
  5. Today's economic calendar also includes personal income and spending, pending home sales, weekly crude inventories, and an early look at weekly jobless claims. The Fed's Beige Book is also slated for release, while GameStop (GME) will report earnings.

buzz stocks nov 27

Asian, European Markets Inch Higher Amid Economic Data 

Markets in Asia finished mostly higher, but investors are still eager for the next U.S.-China trade deal development. China's Shanghai Composite was the region's only loser, closing down 0.1%, after the National Bureau of Statistics showed industrial profits declined year-over-year in October. Hong Kong's Hang Seng gained 0.1%, and both Japan's Nikkei and South Korea's Kospi added 0.3%.

Over in Europe, stocks are inching higher around midday. The French CAC 40 is up 0.1% after consumer confidence grew by a larger-than-expected amount and reached two-year highs in November. London's FTSE 100 is up 0.5% at last check, while the German DAX is 0.3% higher, despite a rough post-earnings outing from auto parts manufacturer Knorr Bremse.


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