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Crypto stocks jump after Bitcoin crosses $100,000
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SentinelOne ( S ) plunges after missing Q3 profit estimates
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Futures down: Dow 0.04%, S&P 500 0.05%, Nasdaq 0.09%
(Updates with prices)
By Shashwat Chauhan and Purvi Agarwal
Dec 5 (Reuters) -
U.S. stock index futures were mostly unchanged on Thursday
following record highs for all three main indexes in the
previous session, as investors awaited upcoming employment data.
The S&P 500, the Nasdaq and the blue-chip Dow
clocked record closing highs on Wednesday as technology
shares rallied after upbeat results from companies including
Salesforce ( CRM ) and Marvell Technology ( MRVL ).
U.S. Federal Reserve Chair Jerome Powell appeared to signal
support for a slower pace of interest-rate cuts ahead when he
spoke on Wednesday, saying the economy was stronger at this
point than the central bank had expected in September. San
Francisco Fed President Mary Daly said there was "no sense of
urgency" on reducing borrowing costs further.
Comments from Richmond Fed President Thomas Barkin are due
later in the day.
Still, traders currently see a 74% chance of the Fed easing
monetary policy by 25 basis points at its December meeting,
according to CME's FedWatch Tool.
A reading of weekly jobless claims is due before markets
open on the day, while the crucial monthly jobs report is
scheduled to release on Friday.
"Ahead of a 'live' Fed policy meeting in December, we expect
special factors including weather, the resolved Boeing strike
and (U.S.) election effects to cloud the read on the job
market," BNP Paribas economists wrote in a note.
"Our forecasts imply a November jobs report that is just
ambiguous enough - strong job growth but a slight rise in
unemployment, alongside moderate gains in pay - to keep a
December rate cut as our base case."
At 06:55 a.m., Dow E-minis were down 18 points, or
0.04%, S&P 500 E-minis were down 3 points, or 0.05% and
Nasdaq 100 E-minis were down 18.75 points, or 0.09%.
Cryptocurrency- and blockchain-related stocks jumped in
premarket trading after bitcoin, the world's largest
cryptocurrency, stormed above the $100,000 mark for the first
time.
Exchange operator Coinbase Global ( COIN ) rose 3.5%, miner
MARA Holdings ( MARA ) added 5.6% and MicroStrategy ( MSTR ),
the largest corporate holder of bitcoin, advanced 6.5%.
Dollar General ( DG ) slipped 2% after the discount
retail chain
trimmed
the upper end of its annual profit forecast.
Southwest Airlines ( LUV ) gained 3.8% after the carrier
raised its
forecast
for fourth-quarter revenue per available seat miles.
SentinelOne ( S ) dropped 15% after the cybersecurity firm
missed Wall Street estimates for third-quarter profit.
Synopsys ( SNPS ) fell 7.6% after the chip design software
firm forecast fiscal 2025 revenue below Wall Street
expectations, in part due to a slump in China sales.