Wall Street was poised to open with losses early today as more prominent U.S. retailers reported their latest financial results, according to the Associated Press. Futures for the S&P 500 declined 0.3% before the bell, while futures for the Dow Jones Industrial Average were down 0.5%.
Walmart jumped 3.6% in premarket after it beat Wall Street’s sales and profit targets and raised its outlook for the year. Walmart is among the first major U.S. retailers to report quarterly results and provides a peek into how Americans are feeling as they head into the holiday shopping season.
Home improvement chain Lowe’s also beat analyst estimates and raised guidance, but its shares were down 1.4% before the bell.
Super Micro Computer soared 26% after the server company announced it had hired BDO to be its independent auditor and submitted a compliance plan to the Nasdaq Stock Market to remain listed. Super Micro had lost more than half its value since its previous accounting firm, Ernst & Young, resigned on Oct. 30, saying it could “no longer be able to rely” on representations from the company’s management and audit committee.
In other dealings early today, benchmark U.S. crude oil shed 26 cents to $68.91 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, declined 19 cents to $73.11 per barrel.
The dollar fell to 154.16 Japanese yen from 154.67 yen.
