US equity futures were nearly flat before Thursday's opening bell as the post-election rally subsides. The Dow Jones Industrial Average futures fell 0.01%, while S&P 500 futures rose by 0.2%, and Nasdaq futures saw an increase of 0.4%. On Wednesday, major equity benchmarks closed higher following Donald Trump's presidential election victory.
Oil prices, however, saw a decline; the front-month global benchmark North Sea Brent crude was down 0.3% at $74.67 per barrel, and US West Texas Intermediate crude fell 0.6% to $71.20 per barrel. Meanwhile, new unemployment insurance claims rose to 221,000 for the week ending November 2, up from 218,000 the previous week.
This came in slightly below Bloomberg's estimates predicting an increase to 222,000. Nonfarm productivity increased at a 2.2% rate in Q3 against estimates of 2.6% growth, with unit labor costs rising by 1.9%, exceeding the expected 1% increase. The Federal Open Market Committee is set to release a policy statement at 2 PM ET following its two-day meeting.
In global markets, Japan's Nikkei declined by 0.3%, while Hong Kong's Hang Seng gained 2%, and China's Shanghai Composite surged 2.6%. In Europe, the UK's FTSE 100 slipped 0.1%, Germany's DAX index rose 1.4%, France's CAC 40 increased by 0.4%, and Spain's IBEX 35 was up 0.7% during the early afternoon session.
In terms of equities, Dutch Bros. ($BROS) shares surged 24% pre-bell after reporting higher Q3 adjusted earnings and revenue. AppLovin ($APP) saw a staggering 37% increase in stock value following its late Wednesday earnings report, which surpassed analysts' estimates. LYFT ($LYFT) shares experienced a rise of 23% after announcing a 32% year-over-year revenue increase for Q3.
Conversely, Krispy Kreme ($DNUT) shares plummeted 9% after disclosing a fiscal Q3 adjusted loss alongside lower revenue. Wolfspeed ($WOLF) also faced a setback, with shares retreating 23% in light of weaker fiscal Q1 results reported late Wednesday..