U.S. stock index futures were largely subdued on Friday, with investors closely monitoring the major retailers as Black Friday sales began against the backdrop of stubbornly high inflation and worries about a potential recession next year.
U.S. stock markets will remain open for a half session on Friday till 1 p.m. ET, after being closed on Thursday for Thanksgiving.
Market Snapshot
At 7:52 a.m. ET, Dow e-minis were up 76 points, or 0.22%, S&P 500 e-minis were up 5.5 points, or 0.14%, and Nasdaq 100 e-minis were down 23.5 points, or 0.2%.
Pre-Market Movers
Activision Blizzard (ATVI) – Activision Blizzard slid 3.4% in premarket trading after Politico reported the Federal Trade Commission is likely to sue to blockMicrosoft’s $69 billion purchase of the videogame publisher.
Tesla (TSLA) – Tesla said its Full Self Driving Beta software is now available to everyone in North America. The announcement comes as Tesla still awaits regulatory approval for cars to be driven without human control. Tesla rose 2% in premarket trading.
Manchester United (MANU) – The soccer team’s shares rallied another 10.8% in premarket action, following reports earlier in the week that it was considering strategic options, including a possible sale. Manchester United Shares jumped 9% Tuesday and rocketed 25.8% on Wednesday.
Bed Bath & Beyond (BBBY) – The housewares retailer is struggling to keep its stores stocked, according to a report in the Wall Street Journal. The paper cites analytics company DataWeave numbers showing more than 40% of the retailer’s products were out of stock in October. Nonetheless, the stock rose 1% in the premarket.
Deutsche Bank (DB) – The German bank’s U.S.-traded shares added 2% in the premarket, following a report by RBC Capital that said Deutsche Bank’s restructuring progress has been overlooked by investors.
Coupa Software (COUP) – The business software provider’s stock jumped another 4.7% in the premarket, on top of its 28.9% Wednesday surge, following a Bloomberg report that private equity firm Vista Equity Partners was considering a buyout of Coupa.
Market News
China Regulator Says Tesla Recalls More Than 80,000 Cars
Tesla Inc is recalling more than 80,000 China-made and imported cars produced from as early as 2013, for software and seat belt issues, a statement by the Chinese market regulator revealed on Friday.
Ford Recalls 634,000 Vehicles Worldwide Over Fire Risks
Ford Motor Co is recalling 634,000 sport utility vehicles (SUVs) worldwide over fire risks from possible cracked fuel injectors and will urge owners to have their cars inspected, it said on Thursday.
America's No.2 automaker by sales said the recall covers 2020-2023 model year Bronco Sport and Escape SUVs with 3 cylinder, 1.5 liter engines, including many also recalled in April because an oil separator housing could crack and develop a leak that could cause an engine fire. Vehicles repaired under the earlier recall will still need the new recall fix, the National Highway Traffic Safety Administration said.
Apple Isn't Planning to Buy Manchester United
Apple is not currently planning to purchase Premier League club Manchester United, according to a source familiar with the matter.
A report earlier today from the British tabloid The Daily Star claimed that Apple had expressed an interest in buying Manchester United for around $7 billion, but the source with direct knowledge of the situation said the report is false.