5 Things to Know Before the Stock Market Opens | Global News Avenue

U.S. stock futures lower as investors focus on potential partial government shutdown; economists expect Personal consumption expenditures (PCE) Index points to higher inflation in November; Novo Nordisk (non-governmental organization) shares plunged in premarket trading after disappointing data for its weight-loss drug CagriSema; FedEx (FDX) Inventories surge as shippers propose splitting up their freight divisions; and Nike (of) shares fell after the sneaker giant warned that revenue could drop more than 10% in the current quarter; here’s what investors need to know today.

1. U.S. stock futures lower as possible government shutdown looms

U.S. stock futures were lower as markets braced for a possible partial government shutdown amid talks in Washington over spending plans. Nasdaq and S&P 500 Index Futures fell 1.5% and 1.0% respectively. after Dow Jones Industrial Average broke one Losing money for 10 consecutive days On Thursday, futures fell 0.6%. Investors are also eyeing key inflation data due to be released this morning. Bitcoin (Bitcoin USD) fell more than 5% to around $92,000, and crude oil futures fell about 1%. Gold futures edged higher and the 10-year Treasury yield edged lower, hovering above 4.5%.

2. Economists expect personal consumption expenditures inflation data to rise

Investors are watching the release at 8:30 a.m. ET Personal consumption expenditures (PCE) index, i.e. expected to show Inflation edged higher in November. Economists surveyed wall street journal and Dow Jones Newswires Personal consumption expenditures are expected to show inflation rising 2.5% year-on-year in November, up from 2.3% in October. This trend will reflect rising price pressures Other inflation measures and as Fed divests it is Interest rate outlook Worrying about inflation may be trickier than previously thought.

3. Novo Nordisk shares fall on weak obesity study data

Novo Nordisk’s U.S.-listed shares (non-governmental organization), maker of the popular weight-loss drug Ozempic and Wegovywhich plunged 19% in pre-market trading after tests showed its experimental weight-loss drug CagriSema was less effective than previously thought. Novo Nordisk said the treatment reduced test patients’ weight by 22.7% after 68 weeks. This is less than the 25% weight loss effect that the Danish pharmaceutical company expected the drug to produce. Bloomberg reported. Eli Lilly and Company stock (Li Lai), the maker of rival drugs Zepbound and Mounjaro, saw its shares surge 5%.

4. FedEx shares rise on plan to spin off freight business

FedEx (FDX) shares soared 8% in pre-market trading Shipping giant announces plans arrive spin off Convert its freight division into an independent company. FedEx said it would start the process immediately, which could take about 18 months. The company reported quarterly revenue of $21.97 billion, down from last year and below expectations. profit It fell to $741 million from $900 million, also below analysts’ forecasts.

5. Nike shares fall on revenue warning

Nike (of) Still, shares fell 6% in pre-market trading Reporting second quarter results According to a transcript of the earnings call provided by AlphaSense, executives warned that they expect “third-quarter revenue to decline by double digits” above expectations. The sneaker giant reported net profit of $1.16 billion on revenue of $12.35 billion (above) analyst estimates Net profit was $968 million on revenue of $12.12 billion, according to Visible Alpha.