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Weekly Jobless Claims Expected to Tick Higher, Dollar General Falls on Weak Guidance; Futures Point Higher Thursday

Thursday, December 02, 2021 08:26 AM | Nick Dey

First Look

Futures are pointed higher Thursday morning. Initial Claims are expected to have ticked higher to 255,000 claims after reaching a 52-year low of 199,000 claims the week before. Meanwhile, Dollar General (DG) is lower in pre-market trading after the company reported better-than-expected earnings and revenues while providing in-line revenue and earnings guidance for full-year 2022. Lastly, Snowflake (SNOW) is rallying in pre-market after the company beat revenue estimates and provided strong fourth quarter product revenue growth guidance of 94-96%, or $345-350 million. The Dow Jones is up 0.79%, the S&P is up 0.52%, the Nasdaq is up 0.11%.

Today's Sentiment

Bearish

Quote of the Day

A man without a goal is like a ship without a rudder.
Thomas Carlyle

Daily Action Trade

Stocks on the Move

Higher

Boeing Co (BA)
Parker-Hannifin Corp (PH)
Delta Air Lines, Inc. (DAL)
Norwegian Cruise Line Holdings Ltd (NCLH)
Royal Caribbean Cruises Ltd (RCL)

Lower

Dollar General Corp. (DG)
Pfizer Inc. (PFE)
McCormick & Company, Incorporated (MKC)
D R Horton Inc (DHI)
PVH Corp (PVH)

Upgrades & Downgrades

Upgrades

JinkoSolar Holding Co., Ltd (JKS)
Public Storage (PSA)
Okta Inc (OKTA)
Graco Inc. (GGG)
eBay Inc (EBAY)
CubeSmart (CUBE)

Downgrades

Waterdrop Inc - ADR (WDH)
ContextLogic Inc (WISH)
US Xpress Enterprises Inc (USX)
RealReal Inc (REAL)
Pinterest Inc (PINS)
ING Groep NV (ING)

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 1.35%, the Hang Seng is up 0.55%, the Shanghai SE Composite Index is down -0.09% the Australia ASX All Ordinaries is down -0.29% and the Nikkei 225 is down -0.65%. Stocks in Europe are down. The Euro Stoxx 50 is down -1.77%, the DAX is down -1.54%, the CAC 40 is down -1.3% and the FTSE 100 is down -0.89%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.15 at 65.72 per barrel. Brent crude is up 0.2 at 69.07 per barrel. Natural Gas is down -0.01 at 4.25. Precious metals are mixed this morning. Gold is down -4.36 at 1777.37 per ounce. Platinum is up 14.32 at 951.75 while silver is up 0.16 at 22.5. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,980,462 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 1,022,151 put contracts. The single-session put/call ratio was 0.52.