Tag: Chris Oberbeck

Stock futures sluggish; eyes on tax bill talks and General Electric
Unemployment

Stock futures sluggish; eyes on tax bill talks and General Electric

Saratoga Investment Corp. CEO Chris Oberbeck explains how rising interest rates and tax reform will impact U.S. markets.
(Reuters) – U.S. stock futures pointed to a dull opening on Thursday with technology stocks holding on to their modest gains as traders focus on progress in tax bill negotiations and General Electric’s job-cut plan.
– Shares of tech giants Microsoft Corp (MSFT), Amazon.com Inc (AMZN), Facebook Inc (FB), Apple Inc (AAPL) and Alphabet Inc (GOOGL) were up about 0.3 percent to 0.6 percent.
– Other early movers include Broadcom (AVGO), which gained 5 percent after reporting upbeat profit and boosting its dividend by 72 percent, days after the chipmaker took its $103 billion bid for Qualcomm (QCOM) hostile.
– Lululemon Athletica (LULU) rose about 8 percent after the Canadian yoga and leisure apparel maker reported a higher-than-expected profit and gave an upbeat holiday-quarter forecast.
– U.S. Senate Republicans on Wednesday agreed to talks with the House of Representatives on the tax bill on Wednesday, amid early signs that lawmakers could agree on a final bill ahead of a self-imposed Dec. 22 deadline.
– However, a gridlock between President Donald Trump and Congress over the passage of fresh spending legislation before Friday has raised fears of partial shut down of the federal government.
– Oil prices rose more than half a percent after dipping 2 percent on Wednesday as a fall in U.S. crude inventories was countered by soaring output and a rise in fuel stocks.
[O/R] – Data is expected to show weekly initial claims for state unemployment benefits rose to 240,000 from 238,000 in the week before.
– S&P 500 e-minis were up 1.5 points, or 0.06 percent, with 122,705 contracts traded.