iShares U.S. Digital Infrastructure and Real Estate ETF (ARCA: IDGT)

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The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of U.S.-traded stocks of communication equipment companies in the U.S. The fund is non-diversified.

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Fastly Inc

Telefonaktiebolaget LM Ericsson B ADR

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Motorola Solutions Inc.

iShares US Digital Infrastructure and Real Estate ETF

iShares U.S. Digital Infrastructure and Real Estate ETF

Goldman Sachs analyst Catherine O'Brien reinstates Allegiant Travel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGT#NASDAQ">ALGT</a>) with a Neutral and announces $83 price target.

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ALGT

Goldman Sachs Reinstates Neutral on Allegiant Travel, Announces $83 Price Target

Goldman Sachs analyst Catherine O'Brien reinstates Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) with a Sell and announces $28 price target.

Goldman Sachs Reinstates Sell on Southwest Airlines, Announces $28 Price Target

Goldman Sachs analyst Catherine O'Brien reinstates JetBlue Airways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) with a Sell and announces $5.5 price target.

JBLU

Goldman Sachs Reinstates Sell on JetBlue Airways, Announces $5.5 Price Target

EYEN

Trading Halt: Halted at 6:55:00 a.m. ET - Trading Halt: Halt News Pending

Goldman Sachs analyst Catherine O'Brien reinstates United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) with a Buy and announces $119 price target.

Goldman Sachs Reinstates Buy on United Airlines Holdings, Announces $119 Price Target

U.S. stocks could open on a negative note on Friday after the Federal Reserve chair Jerome Powell's <a href="https://www.benzinga.com/news/econ-s/24/11/41991849/powell-with-strong-us-economy-fed-has-no-need-to-be-in-a-hurry-to-lower-rates">comments on Thursday</a> that the economy is showing enough strength that there is no need to be "in a hurry" on further rate cuts just yet.
Futures of all three major indices were down as investors processed crucial inflation and economic data released over the week.
"The economy is not sending any signals that we need to be in a hurry to lower rates. The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully," Powell said, maintaining a wait-and-watch approach for the time being.
For now, the post-election rally in the equity markets seems to be slowing down as investors hedge their bets while booking some profits at the same time.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.89%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.63%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.43%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.29%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged lower by 0.53% to $590.22 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 0.80% to $504.63, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks ended Thursday in the red, with the tech-heavy Nasdaq falling the most.
Crude oil prices remained under the $70 mark, easing further on Friday due to fears of a slowdown in China resulting in lower demand.
Treasury yields edged up again as investors digested Powell's comments on the economy as well as rate cuts in the near future.
On the economic data front, U.S. initial jobless claims declined by 4,000 from the previous week to 217,000 in the week ending Nov. 9, compared to market estimates of 223,000.
The U.S. producer prices rose 0.2% month-over-month in October compared to a revised 0.1% gain in September, which is in line with market expectations.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, industrials, and healthcare stocks recording the biggest losses on Thursday.
However, information technology and energy stocks bucked the overall market trend, closing the session higher.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.64%</td>
<td>19,107.65</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.60%</td>
<td>5,949.17</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.47%</td>
<td>43,750.86</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.37%</td>
<td>2,336.94</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Powell's relatively hawkish tone has investors cautious in the markets, noted ING analyst Francesco Pesole.
This could result in a correction for the dollar, which is "testing the limit" of its longs, Pesole noted, adding that traders should exercise caution for the time being.
"Powell seemed to put greater emphasis on the strength of the economy&nbsp;and how that allows the central bank to approach the upcoming policy decisions ‘carefully'."
CME Group's FedWatch tool <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">reflected</a> the fall in sentiment for another rate cut next month, with its probability declining to 62.1% from 72.2%.
Investors will also keep an eye on the retail sales data that is set to be released later today.
However, Sonu Varghese, global macro strategist at Carson Group, downplayed fears of a rebound in inflation, stating that there are "disinflationary trends" that will "likely keep a lid" on a rise in prices.
On the equity front, Varghese maintained his bullish outlook.
"Overall, economic strengths clearly outweigh areas of weakness, and the opportunities likely have a higher probability of coming to fruition than the threats. The balance favors continued strength for equities, which is why we're maintaining our overweight to stocks, especially US stocks."
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
Friday's major economic updates include:
<ul>
<li>Import Price Index, which will be released at 8:30 a.m. ET.</li>
<li>Retail sales data, which will be released at 8:30 a.m. ET</li>
</ul>
Stocks In Focus:
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock will be <a href="https://www.benzinga.com/24/11/41998621/palantir-moderna-pfizer-alibaba-tesla-why-these-5-stocks-are-on-investors-radars-today">in focus today</a> after reports emerged that President-elect Donald Trump is likely to end the $7,500 tax credit. Tesla shares fell 5.8% on Thursday.</li>
<li>Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) shares were up 0.4% in premarket trading after the U.S. government finalized a $6.6 billion subsidy for the chipmaker under the CHIPS Act.</li>
<li>Domino's Pizza Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) shares surged over 7% in premarket trading after Warren Buffett-led Berkshire Hathaway <a href="https://www.benzinga.com/24/11/42002180/why-dominos-pizza-shares-are-trading-higher-by-around-8-here-are-20-stocks-moving-premarket">picked up a small stake</a> in the company.</li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), and Novavax Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) <a href="https://www.benzinga.com/government/regulations/24/11/41993115/trump-taps-rfk-jr-for-health-secretary-role-sends-5-vaccine-stocks-lower">stocks fell after Trump appointed</a> Robert F. Kennedy Jr. as the head of the Department of Health and Human Services.</li>
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) announced it will switch from the New York Stock Exchange to the Nasdaq on Nov. 26.</li>
<li>Investors are awaiting earnings results from Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Spectrum Brands Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>), and RLX Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLX#NYSE">RLX</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell in the early New York session, declining by 1.11% to hover around $67.94 per barrel.
The 10-year Treasury note yield edged up about to 4.43%.
Most of the major Asian markets were mixed on Friday, but European markets were marginally in the green in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">Trump Plans To Erase EV Tax Credit: Tesla Analyst Says It&#8217;s &#8216;Net Bullish,&#8217; Calls Sell-Off &#8216;Wrong Knee-Jerk Reaction&#8217;</a></li>
</ul>
Photo courtesy: Wikimedia

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Pre-Market Outlook

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BABA

MRNA

NVAX

PLTR

TSLA

US Stocks Likely To Open In Red After Jerome Powell Says No Need To Be 'In A Hurry' On Rate Cuts: Tesla, TSMC And Domino's In Focus

Goldman Sachs analyst Catherine O'Brien reinstates Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) with a Buy and announces $83 price target.

Goldman Sachs Reinstates Buy on Delta Air Lines, Announces $83 Price Target

Goldman Sachs analyst Catherine O'Brien reinstates Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) with a Buy and announces $70 price target.

Goldman Sachs Reinstates Buy on Alaska Air Gr, Announces $70 Price Target

Goldman Sachs analyst David Roman initiates coverage on HealthEquity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQY#NASDAQ">HQY</a>) with a Neutral rating and announces Price Target of $108.

Goldman Sachs Initiates Coverage On HealthEquity with Neutral Rating, Announces Price Target of $108

Goldman Sachs analyst David Roman initiates coverage on Teladoc Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) with a Buy rating and announces Price Target of $14.

TDOC

Goldman Sachs Initiates Coverage On Teladoc Health with Buy Rating, Announces Price Target of $14

Goldman Sachs analyst David Roman initiates coverage on Doximity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) with a Neutral rating and announces Price Target of $58.

DOCS

Goldman Sachs Initiates Coverage On Doximity with Neutral Rating, Announces Price Target of $58

Equity Commonwealth Declares Initial Cash Liquidating Distribution Of $19.00 Per Common Share, Which Will Be Paid On December 6 To Shareholders Of Record On November 25

Needham analyst Mike Cikos reiterates Confluent (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFLT#NASDAQ">CFLT</a>) with a Buy and maintains $31 price target.

Reiteration

CFLT

Needham Reiterates Buy on Confluent, Maintains $31 Price Target

Reuters Reported Unilever Plans to Cut 1,700 European Jobs, 1,500 Fewer Than Expected; Hire 1,000 for Ice Cream Unit

Goldman Sachs analyst Andrea Tan maintains Tarsus Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TARS#NASDAQ">TARS</a>) with a Neutral and raises the price target from $36 to $41.

TARS

Goldman Sachs Maintains Neutral on Tarsus Pharmaceuticals, Raises Price Target to $41

SWVL

Swvl Holdings Corp Announces That It Won New Contracts With Total Value Of $4.2M With Key Clients In Egypt Over The Past Three Months

HC Wainwright &amp; Co. analyst Ed Arce reiterates Galectin Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GALT#NASDAQ">GALT</a>) with a Buy and maintains $11 price target.

GALT

HC Wainwright & Co. Reiterates Buy on Galectin Therapeutics, Maintains $11 Price Target

Westwater Resources Reveals 10% Reduction In Estimated Construction Costs Of Kellyton Graphite Plant, As of September 30, Westwater Had Cash Balance Of $4.5M

HC Wainwright &amp; Co. analyst Andrew Fein reiterates Zentalis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZNTL#NASDAQ">ZNTL</a>) with a Buy and maintains $20 price target.

ZNTL

HC Wainwright & Co. Reiterates Buy on Zentalis Pharma, Maintains $20 Price Target

Hyundai Motor (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) has promoted Jose Munoz, its U.S. chief and global COO, to the position of co-CEO. This marks a historic moment as Munoz becomes the first foreign national to achieve such a rank within a major South Korean conglomerate. The decision is part of Hyundai&#8217;s strategic preparation for potential challenges that could arise under a second Trump administration.
What Happened: Munoz has played a crucial role in driving record sales for Hyundai in North America. He will now join three other co-CEOs, including Euisun Chung, the executive chair and grandson of Hyundai&#8217;s founder. Despite his elevation, Munoz will remain subordinate to Chung and Chang Jae-hoon, who is set to become group vice chair overseeing the automotive division.
See Also: <a href="https://www.benzinga.com/trading-ideas/24/11/41958626/tesla-short-sellers-down-8-billion-since-2024-election-and-there-could-be-more-pain-ahead?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Short Sellers Down $8 Billion Since 2024 Election — And There Could Be More Pain Ahead</a>
The leadership changes are aimed at enhancing Hyundai&#8217;s global competitiveness and preparing for uncertainties in the business landscape. Additionally, the automaker has appointed Sung Kim, a former U.S. diplomat, to manage global external affairs. Kim was a former U.S. diplomat and was part of a team assisting Donald Trump during his first term at a summit with North Korean leader Kim Jong Un.
Why It Matters: The appointment of Munoz comes at a time when the potential return of Trump to the U.S. presidency <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41755274/trump-win-could-hinder-tech-ev-sector-growth-slow-the-pace-of-ai-revolution-analyst">could significantly impact</a> the automotive industry. According to a group of Wedbush analysts, a Trump win could hinder growth in the technology and electric vehicle sectors, potentially slowing the pace of the AI revolution.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/41934708/tesla-recalls-over-2400-cybertrucks-in-us?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Recalls Over 2400 Cybertrucks In US</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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