Here are five things you must know for Friday, Nov. 22:
1. -- Stock Futures Rise Modestly as Wall Street Seeks End to 3-Day Losing Streak
U.S. stock futures rose modestly Friday, suggesting Wall Street could break its three-day losing streak, as investors remained fixated on the fate of trade talks between Washington and Beijing and the strength of the American consumer heading into the holiday season.
Equities have moved lower this week amid the conflicting signals from U.S.-China trade talks. But volatility has remained historically low and the three major U.S. stock benchmarks remain near all-time highs despite ongoing concerns for the timing of a near-term agreement between the world's two largest economies.
China President Xi Jinping added to the uncertainty on Friday, telling an international forum in Beijing that while his country "wants to work for a 'phase one' agreement on the basis of mutual respect and equality" it "will fight back" when necessary.
"As we always said, we don't want to start the trade war, but we are not afraid," Xi cautioned.
With tariffs on $160 billion in China-made consumer goods set to kick in on Dec. 15, investors are hoping an agreement can be reached that will prevent any spending disruption from American shoppers over the key holiday season, which unofficially begins on Black Friday next week.
Contracts tied to the Dow Jones Industrial Average rose 49 points, futures for the S&P 500 were up 5.85 points, and Nasdaq futures gained 26.75 points.
2. -- Consumer Sentiment and Foot Locker Earnings Are Friday's Highlights
The economic calendar in the U.S. Friday includes the PMI Composite Flash for November at 9:45 a.m. ET and Consumer Sentiment for November at 10 a.m.
Foot Locker rose 3.28% in premarket trading to $42.82.
3. -- Tesla Unveils the 'Cybertruck'
The angular six-seater truck might draw comparisons with a Delorian or, as CEO Elon Musk suggested in a tweet Thursday, the Lotus from the "Spy Who Loved Me." However, Musk went to great lengths to target the Ford (F) - Get Report F-150, the best selling vehicle in America, which Musk referenced several times during the Cybertruck's unveiling Thursday night in Los Angeles.
The truck has a 250-mile range at the low end and 500 at the high end, according to Tesla. It takes 2.9 seconds to reach 60 mph, a performance figure that places it on par with a current model Porsche, the company suggested in a test video played at the product event.
The truck in its base model form will retail at $39,900 and up for the 250-mile range version. The top-line version sells for $69,900. That places it on par or below others in the electric truck market. Rivian's R1T model has a starting price of $69,000.
Tesla began taking deposits immediately with production of the Cybertruck expected in late 2021.
Tesla shares fell 2.92% in premarket trading to $344.48.
4. -- Nordstrom's Earnings Beat Is Driven by Digital Sales
Nordstrom (JWN) - Get Report jumped 8.83% to $37.35 in premarket trading after the retailer posted stronger-than-expected third-quarter earnings and boosted its full-year profit outlook as its focus on digital shopping offset a slump in full-price product sales.
Nordstrom earned 81 cents a share in the quarter, up from 39 cents a year earlier and well ahead of analysts' forecasts of 63 cents. Revenue fell to $3.67 billion from $3.75 billion but matched expectations.
Nordstrom said it doesn't expect tariffs on China-made imports to have a material affect on its fiscal 2020 earnings, and it nudged the lower end of its prior guidance 5 cents higher to a range of $3.30 to $3.50 a share, while adding 10 basis points to its EBIT margin forecast. Net sales are still expected to fall around 2% from last year, the retailer said.
Digital sales in the third quarter rose 7% from a year earlier and now represent more than a third of overall revenue. That gain helped offset a 4.1% decline in full-price sales.
Gap (GPS) - Get Report , meanwhile, was up 1.73% in premarket trading Friday to $16.50 after the apparel retailer reported fiscal third-quarter adjusted earnings that topped Wall Street's expectations.
5. -- Disney's 'Frozen 2' Debuts in Theaters on Friday
Analysts expect "Frozen 2" to take in anywhere from $105 million to $115 million on 4,300 screens in its first three days. Some analysts go even higher, expecting $160 million in box office receipts.
"Frozen" brought in box office revenue of about $1.3 billion. The original was the highest-grossing animated feature of all time until this year when Disney's remake of "The Lion King" scored sales of $1.66 billion.
Walt Disney shares have risen almost 34% so far in 2019. The stock has gained about 6% since Disney released its streaming service, Disney+, on Nov. 12.