Jobless claims and durable goods orders are also in focus
Stock futures are hovering below breakeven this morning, as investors await the release of the Federal Reserve's meeting minutes, which may hint at the central bank's stance on interest rate hikes. Dow Jones Industrial Average (DJI) futures are eyeing a 74-point drop, while futures on both the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are poised for more modest losses.
There's also host of economic data to unpack. Specifically, initial jobless claims for last week surged to their highest level since August, while U.S. durable goods orders rose 1% in October.
Continue reading for more on today's market, including:
- Energy stock could hit a new all-time high.
- Unpacking post-Black Friday stock performance.
- Plus, Nordstrom stock brushes off earnings win; HP announces layoffs; and TSLA upgraded.

5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and more than 1.7 million put contracts traded on Tuesday. The single-session equity put/call ratio rose to 1.35, while the 21-day moving average stayed at 0.70.
-
Luxury retailer
Nordstrom Inc (NYSE:JWN) cut its fiscal-year profit outlook after noting sales have
cooled down over the last few months. As a result, the company is brushing off a third-quarter earnings and revenue win, sporting a 8.2% dip before the bell. Year-over-year, JWN carries a 29.9% deficit.
- HP Inc (NYSE:HPQ) is the latest tech name to announce layoffs. The company will let go of 10% of its workforce -- which is made up of 61,000 employees -- in the next three years amid weakening personal computer demand. Additionally, HP's top and bottom line for the third quarter beat expectations. HPQ is up 2.9% ahead of the open, but has shed 22% so far in 2022.
- Credit Suisse upgraded Tesla Inc (NASDAQ:TSLA) to "neutral" from "sell" earlier, with the brokerage firm citing its valuation. TSLA is up 2.2% in premarket trading, but is down 51.8% year-to-date.
-
The S&P U.S. manufacturing and services purchasing managers' indexes (PMIs) are on tap, as well as the University of Michigan's consumer sentiment and five-year inflation expectations. Plus, core capital equipment orders and new home sales are expected.

European Markets Mixed on Euro Zone, UK PMI Readings
Markets in Asia finished higher on Wednesday. Hong Kong’s Hang Seng rose 0.6%, with Chinese gaming stocks receiving a boost after a research report hinted easing restrictions on the sector. Meanwhile, China’s Shanghai Composite added 0.3%, and the South Korean Kospi tacked on 0.5%. Japan’s Nikkei was closed for Labor Thanksgiving Day.
European markets are mixed midday, after the euro zone’s S&P Global flash composite purchasing manager’s index (PMI) rose to 47.8 in November from 47.3, compared to analysts’ projected drop to 47.0. Though the reading represents a fifth-straight month of shrinkage, the downturn in business has slowed. The UK’s PMI was little changed at 48.3 from 48.2. London’s FTSE 100 is up 0.3% at last glance, while the French CAC 40 rises 0.1%, and the German DAX falls 0.02%.