Before the bell: What you need to know before the US market open

Billy Bambrough
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Twitter fallen far from its IPO price in recent years
Twitter fallen far from its IPO price in recent years (Source: Getty)

Deutsche Bank's rally is getting in to full swing, while Twitter shares are plunging in the pre-market.

Here's what you need to know before the US market open at 2:30pm London time.

US stock futures are tracking lower ahead of the open. The S&P is off by 0.21 per cent, while the Nasdaq is 0.17 per cent lower. The Dow is down by 0.18 per cent.

In Europe, markets are mixed so far in the session, with budget airline EasyJet's earnings weighing on the FTSE 100.

Kicking off the global trading day, Asian markets ended in positive territory.

US oil is nudging $50 per barrel for the first time since June after reports suggested Opec could agree on a further oil production cut at its late November meeting in Vienna.

Twitter shares tumble

Twitter shares have dropped out of the sky after reports of several of the biggest firms' interest in snapping up the stalled social network have cooled.

Twitter shares rocketed yesterday after reports that bids would be submitted as soon as this week, however, the stock tumbled more than 10 per cent in after-hours trading in New York following fresh reports that two major potential buyers with deep pockets – Google and Disney – are no longer interested.

Read more: Look to Twitter for why Britain's economy proved Project Fear wrong

That would leave Salesforce.com as the biggest front runner publicly connected to a potential deal, though investors were not too keen on a deal with Salesforce stock tumbling as much as seven per cent on Wednesday.

Salesforce boss Marc Benioff stayed tight-lipped on the matter in an interview with CNBC yesterday evening.

Bank on Deutsche?

Meanwhile, Deutsche Bank's share price has risen today, lifted by comments from the International Monetary Fund (IMF) suggesting the lender is too big to be allowed to fail.

Shares are currently trading up 1.2 per cent at €12.22 in Frankfurt.

Read more: Is Deutsche Bank the world’s greatest contrarian trade?

The German giant's share price has taken a number of twists and turns in recent days, as investors, nervous about a potential $14bn (£11bn) fine from the US Department of Justice (DoJ), scan speeches and reports for clues to the lender's financial health.

Stocks to watch

The world's largest brick-and-mortar retailer Walmart is holding its annual investor day today. Investors are looking out for long-term sales guidance or its 2016 earnings per share outlook, as well as plans for new store openings.

Yesterday, Walmart revealed it had raising its stake in JD.com – China's second biggest e-commerce site – from 5.9 per cent to 10.8 per cent.

KFC parent company Yum Brands reported last night its earnings and revenues missed analysts' expectations in the third quarter. Shares are sinking in the pre-market.

It came as like-for-like sales at Yum China, the division which generates the most operating profit, fell one per cent during this period ahead of plans to spin off the arm.

Companies reporting

Earnings are light ahead of a busy week on the corporate data front next week. Restaurant company Ruby Tuesday is reporting after the market close.

In economic news

Initial jobless claims are due out before the open, then market watchers will turn their attention to tomorrow's non-farm payrolls.

Expectations of a US interest rate hike in November have increased after recent positive economic news and a strong jobs report could further bolster the market.

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