Morning Movers: Deere slips following fourth quarter results

Futures are pointing higher as traders lean into the idea that the Federal Reserve is ready to cut rates at the December meeting. A steady slide in Treasury yields and a string of softer economic readings make the case for easing more convincing as retail sales growth has cooled, inflation has lost momentum, and several forward-looking data points point to a slowing consumer. 

Housing-related names and consumer-focused companies are still benefiting from the drop in yields. Tech, on the other hand, remains the weakest link. The sector is still carrying the weight of stretched valuations. A rotation toward more cyclical and interest-sensitive names is one of the more notable dynamics underneath the light holiday-week tape.

In pre-market trading, S&P 500 futures rose 0.30%, Nasdaq futures rose 0.44% and Dow futures rose 0.20%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly.

HIGHER –

• Uber (UBER) and WeRide (WRD) both up 1% after the companies announced the launch of Level 4 fully driverless Robotaxi commercial operations in Abu Dhabi

UP AFTER EARNINGS –

• Dell Technologies (DELL) up 5%
• Alarum (ALAR) up 22%
• Urban Outfitters (URBN) up 15%

DOWN AFTER EARNINGS –

• Deere (DE) down 5%
  
• Zscaler (ZS) down 6%
• Li Auto (LI) down 2%
• HP Inc. (HPQ) down 2%

LOWER –

• Digital Ally (DGLY) down 16% after filing to sell 71.53M shares of common stock for holders