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10 things you need to know before the opening bell

Nov 21, 2018, 17:55 IST

President Trump pardoned a turkey named &quotPeas" at the National Thanksgiving Turkey Presentation on Tuesday.Leah Millis/Reuters

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Here is what you need to know.

  1. President Donald Trump issues a lengthy defense of Saudi Arabia over the killing of the Saudi journalist Jamal Khashoggi. In a statement Tuesday, Trump signaled he did not intend to call for significant changes to the US-Saudi relationship.
  2. Apple slumps into bear-market territory. Amid a broader technology sell-off, the company's shares fell more than 20% from their October peak after Goldman Sachs cut its price target for the third time this month.
  3. American farmers are struggling to find storage for their crops as exports slow. The trade war between Washington and Beijing is forcing some farmers to bury their harvest under soil and the problem is most acute for soybean growers, Reuters reported.
  4. Bank of America sees market chaos doubling over the next three years. The bank laid out investing strategies that have historically profited at times when the Cboe's volatility index is rising.
  5. Facebook CEO Mark Zuckerberg says he does not plan to step down. He also voiced his support for COO Sheryl Sandberg in a CNN interview about the bombshell New York Times report.
  6. Renault CEO Carlos Ghosn is set to remain as the probe into his alleged financial misconduct expands. Executives at the French automaker stated that Ghosn, who was arrested on Monday, would retain his position despite being "temporarily incapacitated."
  7. Amazon employees were reportedly buying up apartments in New York City before the company announced HQ2. Brokers in Long Island City, Queens, have seen a spike in interest from employees at the e-commerce giant, The Wall Street Journal reported.
  8. Economic data is heavy before Thanksgiving. Initial jobless claims and durable-goods orders cross at 8:30 a.m. ET, while the University of Michigan consumer-sentiment report and existing-home sales are due at 10 a.m.
  9. Earnings reporting continues. The farm-equipment maker Deere reported a miss on earnings and sales ahead of the market open. Hewlett Packard's numbers are due after the closing bell.
  10. Futures are attempting a rebound after an ugly session. Dow futures are up 113 points, or 0.5%, and Nasdaq futures are up 45 points, or 0.7%.

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