- The major indices are looking to achieve gains for the third week in a row.
- According to Walmart, Christmas may be relatively cheap this year.
- Unionized workers at General Motors ratify a labor agreement with the United Auto Workers.
Here are the most important news investors need to start their trading day:
Stock futures rose on Friday morning as major indexes looked for gains for the third straight week. Futures tied to the Dow Jones Industrial Average rose about 80 points, or 0.24%, while S&P 500 futures advanced 0.2%, and Nasdaq 100 futures were essentially flat. Over the course of the week, the Dow Jones was up 1.9% through Thursday’s close, the S&P 500 was up 2.1%, and the Nasdaq was up 2.3%. Follow live market updates.
People shop in the holiday section before Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California.
Mario Tama | Getty Images News | Getty Images
According to Walmart, Christmas may be relatively cheap this year. CEO Doug McMillon said alongside the company’s quarterly earnings report that the retailer expects to see lower prices on some general merchandise and key grocery items. “In the United States, we may face a period of deflation in the coming months,” he said. “Although this would put more pressure on the unit on us, we welcome it, because it is better for our customers.” Shares of the big-box retailer fell 8% the day after the dovish outlook.
A Boeing 777-9 is photographed on the runway during the 2023 Dubai Airshow at Dubai World Central – Al Maktoum International Airport in Dubai on November 13, 2023.
Giuseppe Casassi AFP | Getty Images
Aircraft manufacturer Boeing received 295 orders over the four days of the 2023 Dubai Airshow, beating French rival Airbus’s 86 orders, according to company reports and third-party statistics. Every year, the biggest aviation event in the Middle East brings with it aircraft orders. Buyers this year showed a particular appetite for widebody jets, CNBC’s Natasha Turak reports. Boeing’s popularity at the show represents a notable rebound after years of safety concerns.
Members of the United Auto Workers strike the General Motors Lansing Delta assembly plant on September 29, 2023 in Lansing, Michigan.
Bill Poliano Getty Images
Unionized workers at General Motors have ratified a labor agreement with the United Auto Workers union, according to results released by the union on Thursday. Counting all local chapters, the Convention received 54.7% of the approximately 36,000 votes cast. This came after a contentious final few days of voting, in which several major factories rejected contracts. But enough workers in smaller facilities voted to ratify the agreement. Unionized workers at Ford Motor Co. and Stellantis are still voting on similar contracts. So far, these agreements have been supported by nearly two-thirds of all voters in each automaker.
WASHINGTON, DC – OCTOBER 04: US President Joe Biden delivers remarks on the new administration’s efforts to cancel student debt and support borrowers at the White House on October 04, 2023 in Washington, DC.
Kevin Deitch Getty Images
More student loan borrowers are forgoing their debt in bankruptcy proceedings — the result of a policy change by the Biden administration aimed at helping over-indebted and financially struggling people. Ten months after the policy change, student loan borrowers have filed more than 630 bankruptcy cases, representing a “significant increase” compared to recent years, Biden administration officials said. “Our efforts have made a real difference in the lives of borrowers,” Assistant Attorney General Vanita Gupta said Thursday. Outstanding student debt in the United States exceeds $1.7 trillion. Economists say the ballooning debt burden could slow the US economy.
– CNBC’s Brian Evans, Melissa Repko, Natasha Turak, Michael Wayland and Annie Nova contributed to this report.
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