US Market Preview | Non-Farm Payrolls Top Estimates With 227K New Jobs; UPC UP 200%+; Bitcoin Falls, Analysts Advise Holding
Universe Pharmaceuticals INC UPC | 2.73 | -0.73% |
Avalon GloboCare ALBT | 0.50 | -5.14% |
Zhibao Technology ZBAO | 0.82 | +9.35% |
SMX (Security Matters) Public Limited Company SMX | 8.39 | -0.83% |
Bluejay Diagnostics, Inc. BJDX | 1.86 | +1.09% |
Top News
- Non-Farm Payrolls Top Estimates With 227K New Jobs, Unemployment Rises Slightly;
- US Stock Funds Attract $140 Billion Following Trump's Election Victory;
- Top 5 Stocks: GameStop rises, Lululemon up, Uber drops, Ulta falls, Tesla gains.;
- TSLA Price Target Hiked By Multiple Analysts;
I. Market Report
As of 08:32 AM, EST (or 04:32 PM in Riyadh ), the blue-chip Dow Jones Futures ebb by 52 points or 0.12% to 44,815, the broad-based S&P 500 Futures reduce slightly by 5 points or 0.08% to 6,084, the tech-heavy Nasdaq Futures improve modestly by 6 points or 0.03% to 21,479. (Data source: Wind Quant)
As of 08:22 AM, EST (or 04:22 PM in Riyadh ), top pre-market movements are as follows:
| Tickers | Change |
| Universe Pharmaceuticals INC(UPC.US) | 206.66% |
| Avalon GloboCare(ALBT.US) | 118.42% |
| Zhibao Technology(ZBAO.US) | 72.54% |
| SMX (Security Matters) Public Ltd Co Ordinary Shares - Class A(SMX.US) | 64.76% |
| Bluejay Diagnostics, Inc.(BJDX.US) | -22.1% |
| Camp4 Therapeutics Corp.(CAMP.US) | -24.57% |
II. Flash Headlines
Non-Farm Payrolls Top Estimates With 227K New Jobs, Unemployment Rises Slightly
These fresh data indicate a slight increase in the unemployment rate, rising from 4.1% to 4.2%, against expectations that it would remain steady. Meanwhile, the non-farm payroll numbers exceeded expectations, showing an increase of 227,000 jobs in November compared to the forecast of 220,000 and a significantly low prior increase of 12,000.
| Time | Country | Indicator | Actual | Previous | Consensus | Forecast |
|---|---|---|---|---|---|---|
| 09:30 PM | US | Nonfarm Payrolls NOV | 227K | 12K | 200K | 194.0K |
| 09:30 PM | US | Unemployment Rate NOV | 4.2% | 4.1% | 4.2% | 4.1% |
| 09:30 PM | US | Average Hourly Earnings MoM NOV | 0.4% | 0.4% | 0.3% | 0.3% |
| 09:30 PM | US | Average Hourly Earnings YoY NOV | 4% | 4% | 3.9% | 4% |
| 09:30 PM | US | Participation Rate NOV | 62.5% | 62.6% | 62.6% | 62.6% |
| 09:30 PM | US | Average Weekly Hours NOV | 34.3 | 34.2 | 34.3 | 34.3 |
| 09:30 PM | US | Government Payrolls NOV | 33.0K | 38.0K | 30K | 40K |
| 09:30 PM | US | Manufacturing Payrolls NOV | 22K | -48K | 28K | 15K |
| 09:30 PM | US | Nonfarm Payrolls Private NOV | 194K | -2K | 200K | 164K |
| 09:30 PM | US | U-6 Unemployment Rate | 7.8% | 7.7% | 7.7% | 7.7% |
US Stock Funds Attract US$140 Billion Following Trump's Election Victory
Since last month's US elections, investors have poured nearly US$140 billion into US stock funds as traders bet on significant tax cuts and reforms from Donald Trump's administration, benefiting American companies. Data from provider EPFR showed that since Trump’s victory on November 5, US$139.5 billion has flowed into US stock funds. This buying frenzy has made November the busiest month for fund inflows since 2000.
Bitcoin Crashes, Analysts Advise Holding
Bitcoin flash crashed to US$91,990 after reaching US$100,000, while Ethereum and Dogecoin gained. Liquidations worth US$969 million occurred, but traders saw a bullish signal as funding rates dropped. The crypto market cap stood at US$3.57 trillion, with MicroStrategy Incorporated Class A(MSTR.US) down 4.8%. Analyst Michaël van de Poppe advised holding positions and buying dips, projecting more volatility ahead. Read in detail>>
III. Stocks To Watch
Top 5 Stocks in Focus Thursday
GameStop Corp. Class A(GME.US) shares rise 5.92% after Keith Gill's return to social media; Lululemon Athletica Inc(LULU.US) up 0.74% as Q3 earnings and revenue beat expectations; Uber Technologies,Inc.(UBER.US) drops 9.60% on Waymo's Miami launch plans; Ulta Salon, Cosmetics & Fragrance, Inc.(ULTA.US) falls 1.74% despite beating Q3 estimates and raising full-year sales outlook; Tesla Motors, Inc.(TSLA.US) gains 3.23% as Bank of America raises price target to US$400. Read in detail>>
TSLA Price Target Hiked By Multiple Analysts
Tesla Motors, Inc.(TSLA.US) stock has seen multiple price target hikes after Roth MKM upgraded its rating to "buy". Bank of America Securities raised the price target from US$350 to US$400, following a visit to a Texas gigafactory and a test ride using FSD software. Guggenheim raised the target price from US$156 to US$175 but maintained a "sell" rating. Analysts have a consensus rating of "Buy" with an average price target of US$318.33, implying a 13.8% downside. Tesla shares closed up 3.2% at US$369.49 on Thursday. Read in detail>>
Eli Lilly to Invest $3 Billion in U.S. Manufacturing Expansion for Diabetes and Weight-Loss Drugs
Eli Lilly and Company(LLY.US) will invest US$3 billion to expand its US manufacturing facilities to increase production of its diabetes and weight-loss medications. According to a Thursday statement, this latest investment is the company's largest outside its Indiana headquarters, expanding a new facility in Wisconsin set to begin next year. The move aims to meet the growing demand for injectable drugs like Mounjaro and Zepbound.
Pichai Challenges Nadella On AI
Alphabet Inc.'s (Alphabet Inc. Class C(GOOG.US) Alphabet Inc. Class A(GOOGL.US) ) CEO Sundar Pichai dismisses Microsoft Corporation(MSFT.US) CEO Satya Nadella's criticism of Google's AI strategy, suggesting a side-by-side comparison of their companies' AI models, noting Microsoft relies on OpenAI technology for its models, while Google's search engine is set for significant changes in 2025. Legal battles and competitive pressures also loom over Google, with the company facing potential divestiture of its Chrome browser and accusations of anti-competitive practices by Microsoft. Read in detail>>
Amazon Halts Inferentia, Focuses on Trainium AI Chip
Amazon.com, Inc.(AMZN.US) halts Inferential AI chip development, merging product lines with Trainium for both inference and training tasks, aiming to challenge NVIDIA Corporation(NVDA.US) 's 90% AI chip market share with Trainium3 expected in 2025, supported by Apple Inc.(AAPL.US) and Anthropic, amidst a 47.1% year-to-date share surge. Read in detail>>
Shield AI Expands Work With Palantir
Shield AI is expanding its collaboration with Palantir Technologies(PLTR.US) to develop large-scale command and control of autonomous uncrewed systems, including in GPS- and communications-denied environments, leveraging Palantir's Warp Speed manufacturing OS to deliver scalable, AI-powered solutions for protection. Read in detail>>
IV. Calendar
Events:
| Riyadh Time | Event | Previous Value | Forecast Value |
| 04:30 PM | Non Farm Payrolls | 12K | 194.0K |
| 04:30 PM | Unemployment Rate | 4.1% | 4.1% |
| 04:30 PM | Average Hourly Earnings MoM | 0.4% | 0.3% |
| 04:30 PM | Average Hourly Earnings YoY | 4% | 4% |
| 04:30 PM | Participation Rate | 62.6% | 62.6% |
| 04:30 PM | Average Weekly Hours | 34.3 | 34.3 |
| 04:30 PM | Government Payrolls | 40K | 30K |
| 04:30 PM | Manufacturing Payrolls | -46K | 15K |
| 04:30 PM | Nonfarm Payrolls Private | -28K | 164K |
| 04:30 PM | U-6 Unemployment Rate | 7.7% | 7.7% |
| 05:15 PM | Fed Bowman Speech | ||
| 06:00 PM | Michigan Consumer Sentiment Prel | 71.8 | 72.5 |
| 06:00 PM | Michigan 5 Year Inflation Expectations Prel | 3.2% | 3.2% |
| 06:00 PM | Michigan Consumer Expectations Prel | 76.9 | 77.3 |
| 06:00 PM | Michigan Current Conditions Prel | 63.9 | 64.1 |
| 06:00 PM | Michigan Inflation Expectations Prel | 2.6% | 2.9% |
| 06:30 PM | Fed Golsbee Speech | ||
| 08:00 PM | Fed Hammack Speech | ||
| 09:00 PM | Fed Daly Speech | ||
| 09:00 PM | Baker Hughes Oil Rig Count | 477 | |
| 09:00 PM | Baker Hughes Total Rigs Count | 582 | |
| 11:00 PM | Consumer Credit Change | $6B | $9.0B |