Skip to main content

Here are five things you must know for Thursday, Nov. 30:

1. -- U.S. stock futures rose on Thursday, Nov. 30, following a tech selloff during the previous session that led to the worst losses for the Nasdaq index in three months.

The tech-heavy index on Wednesday, Nov. 29, fell 88 points, or 1.27%, in its worst day since Aug. 17. Financial stocks, meanwhile, pushed the Dow Jones Industrial Average up 104 points, or 0.44%, to another record. The S&P 500 was caught in the middle, falling by just 1 point, or 0.04%.

Shares of Apple Inc. (AAPL) , Alphabet Inc. (GOOGL) and Netflix Inc. (NFLX) posted sharp declines on Wednesday. 

Nasdaq futures on Thursday pointed to a gain of 0.33% or 21 points for the index.

Apple and Alphabet are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells the stocks? Learn more now.

European stocks were trading higher on Thursday while Asian shares finished the session mostly lower following the tech selloff on Wall Street.

The  economic calendar in the U.S. on Thursday includes weekly Jobless Claims at 8:30 a.m. ET, Personal Income and Outlays for October at 8:30 a.m., and Chicago PMI for November at 9:45 a.m.

Meanwhile, a final vote on the Senate tax bill is expected either Thursday or Friday. The measure has gained momentum but The Wall Street Journal noted that Senate leadership still doesn't have 50 votes locked down yet to pass the measure. 

If you'd like to receive the free "5 Things You Must Know" newsletter, please register here.

2. -- The world's biggest oil exporters were expected to extend production cuts until the end of the year at a meeting on Thursday, while also leaving the door open to an early wind up of their agreement if oil prices rise too far. 

OPEC producers, Russia and a handful of other oil producing nations will meet in Vienna to discuss an extension to production caps that have reduced supply by 1.8 million barrels per day since January and supported oil's rise beyond $60 a barrel. 

International benchmark Brent crude traded at $63.23 on Thursday, up 1.1%. West Texas Intermediate crude, the U.S. benchmark, rose 0.94% to $57.84 a barrel. 

Analysts have warned that an extension of the production caps until the end of 2018 has been priced into the oil market and anything less than that will weigh on oil prices. The agreement to limit production is currently due to expire in March.

Scroll to Continue

TheStreet Recommends

3. -- Shares of Juniper Networks Inc.  (JNPR)  , the network gear maker, fell 6.5% in premarket trading on Thursday after European tech equipment maker Nokia Corp.  (NOK) denied it was considering an offer for the Sunnyvale, California-based company.

Juniper closed up 5% on Wednesday to $29.61, after CNBC reported that Nokia was considering making an offer for the Juniper.

Nokia, however, denied the reports, saying Thursday it is "not currently in talks with, nor is it preparing an offer for, Juniper Networks related to an acquisition of that company."

CNBC reported on Wednesday that Nokia was readying a takeover bid that would value Juniper at around $16 billion, sending shares in Juniper up 18% in after-hours trading.

4. -- Costco Wholesale Corp. (COST) said comparable-store sales in November rose 10.8%, with e-commerce sales jumping 39%.

The warehouse retailer said comparable sales in the U.S. rose 10.2%, 13.8% in Canada and 11.1% in other international countries.

Costco said comparable sales in November, excluding the impacts changes in gasoline prices and foreign exchange, rose 7.9%.

Net sales in the month rose 13.2% to $11.26 billion.

Shares of Costco were rising 0.4% in premarket trading on Thursday.

5. -- Sears Holdings Corp. (SHLD) reported a narrower third-quarter loss but same-store sales in the period tumbled 15.3%. 

Earnings reports are also expected Thursday from Altaba Inc. (AABA) , VMware Inc. (VMW) , Kroger Co. (KR) , Barnes & Noble Inc. (BKS) and Zumiez Inc. (ZUMZ) .

This story has been updated from 6:03 a.m. ET.

More of What's Trending on TheStreet: