- The major indices are looking for their third straight week of gains.
- According to Walmart, Christmas could be relatively cheap this year.
- Union workers at General Motors ratify a collective bargaining agreement with the United Auto Workers.
Here are the key news investors need to start the trading day:
Stock futures rose Friday morning as major indexes look for their third straight week of gains. Futures tied to the Dow Jones Industrial Average rose about 80 points, or 0.24%, while S&P 500 futures rose 0.2% and Nasdaq 100 futures were essentially flat. For the week through Thursday’s close, the Dow was up 1.9%, the S&P 500 was up 2.1% and the Nasdaq was up 2.3%. Follow live market updates.
People shop in a holiday section ahead of Black Friday at a Walmart Supercenter in Burbank, California on November 14, 2023.
Mario Tama | Getty Images News | Getty Images
According to Walmart, Christmas could be relatively cheap this year. CEO Doug McMillon said alongside the company’s quarterly earnings report that the retailer expects lower prices on some general merchandise and essential grocery items. “In the U.S. we may be going through a period of deflation in the coming months,” he said. “And while that would put more pressure on us, we welcome it because it’s better for our customers.” Shares of the major retailer fell 8% the day after the cautious outlook.
A Boeing 777-9 jet aircraft is pictured on the tarmac during the Dubai Airshow 2023 at Dubai World Central – Al-Maktoum International Airport in Dubai on November 13, 2023.
Giuseppe Cacace | AFP | Getty Images
Plane maker Boeing recorded 295 orders over four days of the 2023 Dubai Air Show, surpassing the 86 orders of its French rival Airbus, according to company reports and third-party figures. Every year, the largest aviation event in the Middle East is overwhelmed with numerous jet orders. This year’s buyers showed particular interest in widebody aircraft, CNBC’s Natasha Turak reports. Boeing’s popularity at the show represents a notable rebound after years of safety concerns.
Members of the United Auto Workers strike at General Motors’ Lansing Delta Assembly Plant in Lansing, Michigan, on September 29, 2023.
Bill Pugliano | Getty Images
Union workers at General Motors have agreed to a collective bargaining agreement with the United Auto Workers, according to union results released Thursday. Based on votes from all local chapters, the agreement received 54.7% of the nearly 36,000 votes cast. This comes after a controversial vote in recent days that saw several major mills reject the contracts. But enough workers at smaller plants voted to seal ratification. Union workers at Ford Motor and Stellantis are still voting on similar contracts. So far, these agreements have won the support of about two-thirds of each automaker’s voting population.
WASHINGTON, DC – OCTOBER 04: US President Joe Biden delivers remarks on the new administration’s efforts to cancel student debt and support borrowers at the White House on October 04, 2023 in Washington, DC.
Kevin Dietsch | Getty Images
More student loan borrowers are paying off their debt through bankruptcy, the result of a Biden administration policy change designed to help people who are deeply in debt and facing financial hardship. Ten months after the policy change, student loan borrowers have filed more than 630 bankruptcy cases, representing a “significant increase” from recent years, Biden administration officials said. “Our efforts have made a real difference in the lives of borrowers,” Assistant Attorney General Vanita Gupta said Thursday. Outstanding student debt in the U.S. exceeds $1.7 trillion. Economists say rising debt burdens could slow the U.S. economy.
—CNBC’s Brian Evans, Melissa Repko, Natasha Turak, Michael Wayland and Annie Nova contributed to this report.
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