Dow Futures Edge Lower With Wall Street Heading For Worst Week In Over A Month: TSLA, EXPE, ABNB, OPEN Among Stocks To Watch

While Dow Jones futures edged lower by 0.05% at the time of writing, the S&P 500 futures declined 0.06%.

• Wall Street is now headed for its worst week in over a month, analysts at Schwab said.
• They noted that investors will await the preliminary consumer sentiment report for November from the University of Michigan.
• Asian markets ended Friday’s trading session on a positive note, with the KOSPI declining the most at 1.84%.

U.S. stocks appear set for a negative opening on Friday as investors exercise caution following an AI selloff, while a new report stated that layoffs in October were the highest for the month in 22 years.

Wall Street is now headed for its worst week in over a month, analysts at Schwab noted, while adding that investors will await the preliminary consumer sentiment report for November from the University of Michigan.

"The speculative and momentum sentiment that helped lift many tech shares—including some with no profits—appears to be fading a bit," said Nathan Peterson, director of derivatives analysis at the Schwab Center for Financial Research.

Futures Trade Lower

While Dow Jones futures edged lower by 0.05% at the time of writing, the S&P 500 futures declined 0.06%, while the tech-heavy Nasdaq 100’s futures declined 0.09%. Futures of the Russell 2000 index fell 0.02%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was down by 0.04% at the time of writing, Invesco QQQ Trust (QQQ) declined 0.08% on Friday morning, and SPDR Dow Jones Industrial Average ETF Trust (DIA) declined 0.03%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.

Asian Markets Decline

Asian markets ended Friday’s trading session on a positive note, with the KOSPI declining the most at 1.84%, followed by the Nikkei 225 at 1.48%, and the Hang Seng index at 0.96%.

The TWSE Capitalization Weighted Stock index declined 0.9%, while the Shanghai Composite fell 0.26%.

Stocks To Watch

• Tesla Inc. (TSLA): Tesla shares were up nearly 1% in Friday’s pre-market trade after the company’s shareholders passed CEO Elon Musk’s historic $1 trillion compensation package.
• Expedia Group Inc. (EXPE): Expedia shares were up nearly 17% pre-market after the company’s third-quarter (Q3) results beat Wall Street expectations. Expedia reported earnings per share (EPS) of $7.57 on revenue of $4.41 billion, compared to analyst estimates of an EPS of $6.97 on revenue of $4.28 billion, according to Stocktwits data.
• Airbnb Inc. (ABNB): Airbnb shares were up nearly 5% pre-market after the company said travel demand had strengthened in Q3, and continued to remain strong in October as well. It reported an EPS of $2.21 on revenue of $4.1 billion, compared to an estimated EPS of $2.31 on revenue of $4.08 billion, according to Stocktwits data.
• Opendoor Technologies Inc. (OPEN): Opendoor shares were down over 21% pre-market after the company’s Q3 results disappointed Wall Street. Opendoor reported a loss of $0.12 per share on revenue of $915 million, while analysts expected a loss of $0.08 per share on revenue of $849.59 million, according to Stocktwits data.
• Constellation Energy Corp. (CEG), Wendy’s Co. (WEN), and KKR & Co. Inc. (KKR) are among the companies scheduled to report their latest quarterly earnings on Friday.

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