Markets, Oil, Foot Locker, Facebook and Renault - Five Things You Must Know - TheStreet

Here are five things you must know for Wednesday, Nov. 21:

1. -- Global Stocks Steady

Global stocks steadied Wednesday, as investors attempted to restore order to markets in the final full day of trading in a Thanksgiving-shortened week following last night's energy and tech-lead slump on Wall Street that raises significant questions for the direction of the global economy heading into next year.

Last night's sell-off on Wall Street, which pushed the Nasdaq Composite Index past a a seven-month low and tipped both the Dow Jones Industrial Average and the S&P 500 into negative territory for the year, also marked the collective loss of more than $1 trillion for the so-called FANG stocks -- Faecbook (FB) - Get Report , Apple (AAPL) - Get Report , Amazon (AMZN) - Get Report , Netflix (NFLX) - Get Report and Google (GOOGL) - Get Report -- as each slid into bear market territory amid a wholesale repricing of risk and consumer demand.

U.S. equity futures, as well, are showing some early market resilience, with contracts tied to the Dow I:DJI indicating a 95-point gain for the 30-stock average, a move that would pull back about a fifth of yesterday's 2.2% decline. Futures tied to the S&P 500 I:GSPC are also looking stronger, and suggest a 11.5 point gain for the broader benchmark, while those linked to the tech-focused Nasdaq I:IXIC indicate a solid 52-point gain at the start of trading in New York

2. -- Oil Rebounds

Tech losses on Wall Street last night were matched by a huge slump for global oil prices, which saw WTI crude futures fall to the lowest level in more than a year, as investors took signs of a global economic slowdown, alongside consistently-increases levels of U.S. production, to lop more than 6% from oil prices by the close of trading.

Oil's Wednesday rebound was also linked to the weaker greenback, but was also down to investors snapping up cheap crude contracts after yesterday's wipeout and data from the American Petroleum Institute that showed domestic stockpiles fell by 1.5 million barrels last week.

Brent crude contracts for January delivery, the global benchmark, were seen 93 cents higher from their Tuesday close in New York and changing hands at $63.46 per barrel while WTI contracts for December, which are more tightly liked to U.S gas prices, were marked 87 cents at $54.30 per barrel.

3. -- Foot Locker on the March

Foot Locker Inc. (FL) - Get Report shares surged in pre-market trading Wednesday after the athletic apparel retailer posted stronger-than-expected third quarter earnings after the closing bell Tuesday that defied the sector's disappointing session ahead of this season's Black Friday shopping event.

Foot Locker said non-GAAP earnings for the three months ending on November 3 came in at 95 cents a share, topping the Street forecast of 92 cents and rising 9.2% from the same period last year. Overall group revenues slipped marginally from last year, to $1.86 billion, but again came in ahead of analysts' estimates, as same store sales growth was tabbed at a better-than-expected 2.9%.

"Last quarter, we were surprised that the company's results weren't better, and, this quarter, we're surprised they weren't worse," said Pivotal Research Group analyst Mitch Kummentz. "We believe Foot Locker's running strength speaks to the benefit of improved depth and flow of premium product, and we expect this to help drive the company's (fourth quarter same store sales) as well."

Foot Locker shares were marked 15.32% higher in pre-market trading Wednesday, indicating an opening bell price of $53.15 each, the highest since late June and a move would swing the stock into positive territory for the year and value the New York, N.Y.-based retailer at just over $6.1 billion.

4. -- Zuckerberg on the Defence

Facebook Inc. FB shares were marked modestly higher in pre-market trading Wednesday, but are still sitting on a year-to-date loss of around 25% thanks to a host of data privacy, regulatory and corporate governance issues that have loped billions from the social group's market value.

Founder, CEO and chairman Mark Zuckerberg, however, told CNN's Laurie Segall that he has no plans to step down, and stood behind his most senior executive, Sheryl Sandberg, who has come under increasing pressure for her alleged role in potentially subverting internal efforts to probe Russian meddling in the 2016 Presidential election.

"A lot of the criticism around the biggest issues has been fair, but I do think that if we are going to be real, there is this bigger picture as well, which is that we have a different world view than some of the folks who are covering us," Zuckerberg said. There are big issues, and I'm not trying to say that there aren't. But I do think that sometimes, you can get the flavor from some of the coverage that that's all there is, and I don't think that that's right either."

Facebook shares were marked 0.81% higher at $133.50 each in pre-market trading Wednesday.

5. -- Renault Drives on from Ghosn

Renault SA (RNLSY) shares rose for the first day in three Wednesday after the automaker appointed an interim leadership team to stand in for Carlos Ghosn, the former CEO who reportedly remains under arrest in Japan as part of a broader investigation into allegations of financial misconduct linked to his role as chairman at Nissan Motor Co. (NSANY)

Renault's chief operating officer, Thierry Bollore, will assume the role of CEO immediately, the company said, following comments from France's Economy Minister, Bruno Le Maire, who said the carmaker, in which the French state has a 15% stake, was "weakened" by Ghosn's arrest and needed to "act quickly" in replacing him. Le Marie, however, echoed sentiments from Nissan that the pair wished to consolidate their Euro-Pacific alliance and said talks will continue between the two companies later today.

Renault shares were marked 2% higher in the opening hour of trading in Paris, well ahead of the 0.7% gain for the CAC-40 benchmark, and changing hands at €59.51 each in a move that trims their three-day decline to around 10%.

Nissan shares closed 0.36% higher in Tokyo at 951.1 yen each, but had fallen some 15% so far this year, a move accelerated by slumping North American sales and one of the weakest quarterly earnings reports in nearly 10 years over the three months ending in September.