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Here are five things you must know for Thursday, Nov. 29:

1. -- Stock Futures Point Lower After Fed-Fueled Rally

U.S. stock futures suggested a weaker start for Wall Street on Thursday, Nov. 29, following a Federal Reserve-fueled rally in the previous session as investors awaited developments from this weekend's summit between Donald Trump and Chinese President Xi Jinping.

Contracts tied to the Dow Jones Industrial Average declined 40 points, futures for the S&P 500 fell 7.25 points, and Nasdaq futures were down 35.25 points.

Stocks jumped on Wednesday, Nov. 28 - the Dow gained 617 points, or 2.5%, for the index's best day since March 26 - after Fed Chairman Jerome Powell appeared to reverse an earlier assessment on monetary policy, telling the Economic Club of New York that the fed funds rate was "just below" a neutral rate that would neither accelerate nor slow growth in the world's largest economy. Powell spooked markets last month by suggesting that rate was a "long way" from neutral, a view that triggered a near 10% correction in U.S. stocks and accelerated bets on faster rate hikes in 2019.

"We know that things often turn out to be quite different from even the most careful forecasts," Powell said. "Our gradual pace of raising interest rates has been an exercise in balancing risks." He added that rates, while "still low by historical standards" remain "just below the broad range of estimates of the level that would be neutral for the economy."

Powell also said the stock market's recent selloff doesn't pose major risks to the financial system, in a sign that the declines won't be enough to persuade the central bank to abandon its push to raise interest rates.

2. -- Thursday's Earnings Highlights Include Palo Alto Networks, Abercrombie, VMware

Abercrombie & Fitch Co. (ANF - Get Report)  jumped 17.4% in premarket trading after it posted third-quarter adjusted earnings of 33 cents a share, beating estimates of 20 cents. Same-store sales in the period rose 3%; analysts were calling for same-store sales to rise 1.6%.

Dollar Tree Inc.'s  (DLTR - Get Report)  third-quarter earnings topped estimates but the stock fell 4.8% after the discount retailer cut its 2018 earnings and sales outlook.

Earnings are also expected Thursday from Palo Alto Networks Inc. (PANW - Get Report) , Zuora Inc. (ZUO - Get Report) , VMware Inc. (VMW - Get Report) , Splunk Inc. (SPLK - Get Report) , HP Inc. (HPQ - Get Report) ,  GameStop Corp. (GME - Get Report) and Dell Technologies Inc. (DVMT) . 

Palo Alto Networks is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells PANW? Learn more now.

The economic calendar in the U.S. Thursday includes weekly Jobless Claims at 8:30 a.m. ET, Personal Income and Outlays for October at 8:30 a.m., the Pending Home Sales Index for October at 10 a.m., and minutes from the Federal Open Market Committee's Nov. 8 meeting at 2 p.m.

3. -- Deutsche Bank's HQ in Frankfurt Is Raided

Deutsche Bank AG  (DB - Get Report) shares plunged Thursday after prosecutors in Germany raided the lender's Frankfurt headquarters as part of an ongoing probe into money laundering that has implicated several European banks over the past year.

Around 170 criminal prosecutors and tax inspectors were involved in the search, Frankfurt police officials said, following an allegation that Deutsche Bank was the unnamed "major European bank" that helped process around $150 billion in payments linked to the Danske Bank money-laundering scandal that was revealed earlier this year. Deutsche Bank officials weren't immediately available for comment when contacted by TheStreet, but issued a statement to Reuters saying it was fully co-operating with prosecutors and that the investigation was linked to the so-called Panama Papers.

Deutsche Bank shares fell 4.5% in premarket trading on Thursday.

The Frankfurt raid is the latest turmoil for Germany's largest lender, which has lost more than half its market value since asking investors for an $8.5 billion capital increase in March 2017 following a multi-billion settlement with U.S. legal authorities linked to the mis-selling of mortgage bonds in the run-up to the global financial crisis.

4. -- Elon Musk Scraps Plans for Los Angeles Tunnel

Elon Musk's plans for a high-speed passenger tunnel under the West side of Los Angeles have been scrapped but his Boring Co. is moving ahead with a similar proposal across town designed to take baseball fans to and from Dodger Stadium.

The Boring Co. abandoned its development of a 2.7-mile (4.4-km) tunnel in West L.A. to settle litigation brought by community groups opposed to the project.

"The parties (The Boring Company, Brentwood Residents Coalition, Sunset Coalition, and Wendy-Sue Rosen) have amicably settled the matter of Brentwood Residents Coalition et al. v. City of Los Angeles (TBC -- The Boring Company)," a joint statement said. "The Boring Company is no longer seeking the development of the Sepulveda test tunnel and instead seeks to construct an operational tunnel at Dodger Stadium." 

Just last month, Musk, the CEO of Tesla Inc. (TSLA - Get Report) , announced that Boring Co. was close to completing its first high-speed transit tunnel under suburban Hawthorne in the Los Angeles area.

5. -- Altria in Talks for Minority Stake in Juul - Report

Altria Group Inc. ( MO - Get Report)  is in talks to take a significant minority stake in e-cigarette startup Juul Labs Inc., The Wall Street Journal reported, citing people familiar with the matter.

No deal is imminent, the people said, but should there be one it would be big, according to the Journal. Closely held Juul was valued at $16 billion in a funding round this summer.

 
Altria rose 0.8% in premarket trading on Thursday.