Today’s Stock Futures: Live Updates

16 minutes ago

Stocks open in the green on Wednesday

Major stock market indices opened higher on Wednesday.

— Biya Singh

An hour ago

Wholesale prices rose more than expected in September

An hour ago

Dialysis providers slammed news of Ozempic’s success in kidney tests

Shares of both dialysis service providers DaVita and Fresenius Medical Care fell 15% in premarket trading after news of Ozempic’s effectiveness in a kidney disease treatment trial.

Novo Nordisk announced late Tuesday that it was stopping the study early after an independent panel monitoring the trial met criteria to show its effectiveness.

Baxter, which makes products for chronic dialysis treatment, also suffered, falling 8%.

Shares of Novo Nordisk rose 3.5% before hours.

– Michael Fox

An hour ago

Stocks that make the biggest moves in the premarket

Here’s a look at some of the companies making headlines in premarket trading.

DaVita, Novo Nordisk – Shares of the dialysis service provider fell 15% on news of Ozempic’s performance in Novo Nordisk’s kidney disease treatment study. Shares of Novo Nordisk rose 3.1%.

Exxon Mobil, Pioneer Natural Resources – Shares of Exxon Mobil were 1% premarket lower after the company agreed to buy Pioneer for nearly $60 billion, or $253 a share, by combining all its shares. Meanwhile, Pioneer shares rose 2.5%. Exxon said production in the Permian Basin will double after the deal closes.

Humana – Shares fell slightly after Bruce Broussard’s comments The CEO will step down in the second half of 2024.

Read the full list here.

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– Brian Evans

2 hours ago

Exxon’s Big Deal for Shale Driller

ExxonMobil is buying shale driller Pioneer Natural Resources for $253 a share in an all-stock deal valued at $59.5 billion, giving the oil company a dominant position in the Permian Basin.

The expected deal was confirmed by the companies on Wednesday morning. Pioneer shares added about 1.5% in pre-market trade. They rose about 10% last week on reports that a deal was close. Exxon shares fell about 1.3% in early trading.

The merger, the biggest on Wall Street this year, is expected to close in the first half of 2024, the companies said.

– John Melloy, Fred Imbert

5 hours ago

European stock markets slumped

European stock markets were active in early trade, with the Stoxx 600 swinging between losses and gains.

England’s FTSE 100 was flat at 9:30 a.m. in London, while Germany’s DAX fell 0.2% and France’s CAC 40 fell 0.96%.

Check out the chart…

Stoxx 600 Index.

6 hours ago

China’s consumer spending has yet to return to pre-pandemic levels

Consumer spending in China is not growing as fast as it was before the pandemic, analysts said.

Retail for the holiday season from September 29 to October 5 9% up A year ago, according to state media reports from the Ministry of Commerce. The figures exclude the final day of the Golden Week holiday.

Analysts pointed to the impact of the property slump – as most of household wealth is in real estate – and a decline in government spending due to local debt problems as contributing factors to the slowdown in consumer spending.

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Read the full story here.

– Evelyn Cheng, Shreyashi Sanyal

13 hours ago

Business sentiment in Japan eased after a Reuters Tankan poll was unchanged in October

Confidence among major Japanese manufacturers was subdued in October, according to a Reuters Tankan survey that measures business sentiment among major Japanese companies.

A Reuters poll, tracking the Bank of Japan’s closely watched Tangen quarterly survey, saw manufacturers’ sentiment up +4 index points in October, although it was expected to pick up in the coming three months.

Sentiment in the services sector rose as buoyant domestic demand helped offset some of the damage to the economy from the global downturn.

The services sector index rose to +24 in October, a slight improvement from +23 the previous month.

– Shreyashi Sanyal

12 hours ago

Seoul shares rise on Samsung lead

South Korean stocks rose about 2%, hitting a two-week high on a boost from chip giant Samsung Electronics.

Samsung expects a 78% decline in operating profit As per guidance issued by the company, in the quarter ended September. The operating profit forecast was slightly higher than analyst expectations. Shares of the company rose 3.77 percent.

Rival SK Hynix rose about 3%.

– Shreyashi Sanyal

14 hours ago

Birkenstock is expected to price the IPO at $46 per share

15 hours ago

Smallcaps beat the S&P 500 for a 5th straight advance on Tuesday.

Small-cap companies posted their fifth straight advance on Tuesday, with the Russell 2000 index rising 1.14%, more than double the 0.52% gain in the S&P 500.

The Russell 2000 is up 2.8% since Oct. 3 while the S&P 500 is up 3.0%.

The smallcap benchmark is 11.5% below its 52-week high hit on Feb. 2, while the S&P 500 is 5.4% below its 52-week high from July 27. In the first two trading days of this week, smallcaps rose 1.7%. versus the S&P 500’s 1.2% gain.

– Scott Schnipper

15 hours ago

Stock futures have changed little

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