U.S. stock futures trended higher on Monday morning, starting the Thanksgiving week on a positive note on renewed hopes of an interest rate cut in December. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.71%, 0.48%, and 0.19%, respectively, at 7:56 a.m. EST on November 24.
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On Friday, U.S. stocks recovered after New York Federal Reserve President John Williams said the central bank could lower its key interest rate, given that weakness in the labor market poses a greater risk than high inflation.
Turning to trending stocks, Novo Nordisk (NVO) shares plunged 11% in Monday’s pre-market trading after the Danish pharma giant announced that its much-awaited trial for Alzheimer’s disease failed to meet its key goal.
Meanwhile, investors look forward to some major earnings releases this week, including reports from Li Auto (LI), Alibaba (BABA), Dell Technologies (DELL), Zscaler (ZS), and Nio (NIO).
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