| What to watch today: U.S. stocks set to rise, even tech stocks | | |  | WED, NOV 11, 2020 | | | | AS OF WED, NOV 11, 2020 • 08:37 ET | | Dow Jones Fut | | 29,420.92 | | Current: | 29,521.00 | | Change: | 202.00 | | Impl. Open: | 193.08 | | | S&P 500 Fut | | 3,545.53 | | Current: | 3,569.50 | | Change: | 28.50 | | Impl. Open: | 29.47 | | | NASDAQ 100 Fut | | 11,624.29 | | Current: | 11,746.50 | | Change: | 128.25 | | Impl. Open: | 129.21 | | | Russell 2000 Mini | | 1,737.01 | | Current: | 1,742.80 | | Change: | 8.60 | | Impl. Open: | 10.49 | | | Another record low rate on 30-year fixed mortgages last week did not help bring out home buyers. Mortgage application volume fell 0.5% compared with the previous week. Loan amounts have been reaching new highs in the last several weeks due to skyrocketing home prices and comparatively stronger activity on the upper end of the market. (CNBC) | | In the balance of power race in the Senate, Democrat Cal Cunningham conceded Tuesday to Sen. Thom Tillis, R-N.C., one of the last undecided contests. Keeping that seat put the Senate count at 49 Republicans and 48 Democrats, according to NBC News. Three races are not settled, including two in Georgia that are headed for Jan. 5 run-offs. (NBC News) | | | | Chinese-owned TikTok has not heard from the Trump administration in weeks as the company tries to figure out whether or not to proceed to sell a minority stake to Oracle (ORCL) and Walmart (WMT). TikTok is still interested in pursuing a technology deal. A technology advisor to Biden said that "it's too early" to know the Biden administration's TikTok policy. (CNBC) | | | | Apple (AAPL) announced Tuesday three new Mac computers, a MacBook Air, a 13-inch MacBook Pro, and a Mac Mini. They essentially look the same as their predecessors. What's new this time is the chip that runs them. Now they're powered by Apple's own M1 chip, ending a 15 year run using Intel's (INTC) processors. (CNBC) | | Lyft (LYFT) lost more than $280 million during the third quarter, more than double the loss it reported in the same quarter a year ago. However, Lyft reported better than expected revenue for the quarter and also said it was working on developing a new food delivery service. The shares rose 5% in premarket trading. | | | | Aurora Cannabis (ACB) announced plans to raise $125 million through a secondary stock offering. Under terms of the offering, each share would be priced at $7.50 and the buyer would receive a warrant to purchase another share at $9 within 40 months. The stock dropped 15% in premarket trading. | | | | Streaming service fuboTV (FUBO) did report a larger than expected loss for its latest quarter, but revenue exceeded forecasts and the company also gave an upbeat current quarter outlook. It expects to end the year with 500,000 to 510,000 subscribers, which would be up 58% to 62% compared to a year earlier. The shares gained 30% in premarket trading. | | | | Tencent Music (TME) reported better than expected profit and revenue for its latest quarter, boosted by growth in paying users for its music streaming service. Tencent said it is seeing a continued improvement in the retention rate of paying users. The shares added 4% in premarket trading. | | | | AT&T's (T) WarnerMedia unit is expected to lay off up to 1,750 workers, about 7% of its staff, according to multiple reports. WarnerMedia, the operator of HBO, TBS, CNN and the Warner Bros. TV and film studio, plans to hold an all-hands meeting today to give more information on the cuts to employees. | | | | General Electric (GE) has ended its so-called Corporate Audit Staff program, as part of CEO Larry Culp's effort to simplify operations. The program allowed workers to rotate through various divisions of the company to groom them for future leadership positions. | | Chipotle Mexican Grill (CMG) will open the doors to its first digital-only restaurant Saturday. Unlike a traditional Chipotle location, it will not include a dining room or a line for ordering. Customers have to order in advance on Chipotle's app, website or third-party delivery platforms. (CNBC) | | |
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