Stock Market Today: S&P 500, Nasdaq Futures Gain, Dow Gain— Accenture, Micron Technologies, Nike And FedEx In Focus (UPDATED) – SPDR S&P 500 (ARCA:SPY)

(Editor’s note: The futures prices of ETFs, headline, and stock moves were updated in the story.)

U.S. stock futures are inching higher on Thursday after markets ended lower on Wednesday, amid growing concerns regarding a “hiring recession” following the November jobs report.

Traders and investors will be looking forward to the November Consumer Price Index, which is due later on Thursday, as a key inflation read that could provide the much-needed catalyst the markets need to set the tone for the final few trading days of the year.

Meanwhile, the 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.46%. The CME Group’s FedWatch tool‘s projections show markets pricing a 73.4% likelihood of the Federal Reserve leaving the current interest rates unchanged.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Thursday. The SPY was up 0.64% at $675.76, while the QQQ advanced 1.13% to $607.20, according to Benzinga Pro data.

See Also: House Passes Republican Healthcare Bill Ending ACA Subsidy As Mike Johnson Touts ‘Patients First’ Approach

Stocks In Focus

Accenture PLC

• Shares of Accenture Plc (NYSE:ACN) are down 3.11% at $264.97 premarket after the IT consulting company reported fiscal first-quarter results that beat analysts’ estimates but outlined a tepid forecast.
• The stock maintains a favorable price trend in the short and medium terms, while scoring high on Growth in Benzinga’s Edge Stock Rankings. Click here for deeper insights into the stock, its peers, and competitors.

• Semiconductor giant Micron Technology Inc. (NASDAQ:MU) is up 13.3% before the bell on Thursday, following a better-than-expected first quarter performance, with a strong outlook for the second quarter.
• The stock scores high on Momentum, Growth, and Quality in Benzinga’s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click here for more insights into the stock, the company, its peers and competitors.

• Shares of FedEx Corp. (NYSE:FDX) are down 0.46% pre-market, ahead of the company’s fiscal second-quarter results after markets close on Thursday. Analysts expect the company to post $4.10 per share in earnings, on revenue of $22.79 billion.
• The stock scores high on Growth and Value in Benzinga’s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.

• Furniture company, MillerKnoll Inc. (NASDAQ:MLKN) is up 8.10% pre-market, following the company’s better-than-expected second-quarter performance on Wednesday, and robust guidance for the current quarter.
• The stock, however, does poorly in Benzinga’s Edge Stock Rankings, scoring high only on Value, with a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.

• Nike Inc. (NYSE:NKE) shares are up 0.94%, ahead of the company’s fiscal second-quarter results after markets close on Thursday. Leading analysts expect the company to post $0.38 per share in earnings, on revenue of $12.22 billion.
• The stock scores high on Growth in Benzinga’s Edge Stock Rankings, with a favorable price trend in the short term. Click here for deeper insights into the stock, its peers, and competitors.

According to Detrick, “If there really was a monster under the bed, we’d see it in credit.” This comes despite companies such as Oracle Corp. (NYSE:ORCL) having witnessed significant widening in their credit default swap spreads, due to increasing AI-related borrowing.