5 things to know before stock markets open on Friday, November 17
  • Major indices are eyeing a third straight week of gains.
  • Christmas may be relatively cheap this year, according to Walmart.
  • Union workers at General Motors secure a labor contract with the United Auto Workers.

Here are the most important news for investors to start their trading day:

Stock futures rose Friday morning as major indexes looked for a third straight week of gains. Futures tied to the Dow Jones industrial average rose about 80 points, or 0.24%, while S&P 500 futures advanced 0.2%, and Nasdaq 100 futures were essentially flat. For the week, the Dow was up 1.9% through Thursday’s close, the S&P 500 was up 2.1% and the Nasdaq was up 2.3%. Follow live market updates.

People shop in the holiday section ahead of Black Friday at Walmart Supercenter in Burbank, California on November 14, 2023.

Mario Tama | Getty Images News | Good pictures

Christmas may be relatively cheap this year, according to Walmart. CEO Doug McMillon said with the company’s quarterly earnings report that the retailer expects to see lower prices on some general merchandise and key grocery items. “In the US, we may be dealing with deflation in the coming months,” he said. “While that puts more unit pressure on us, we welcome it because it’s better for our customers.” Shares of the big-box retailer fell 8% on the day following a cautious outlook.

A Boeing 777-9 jetliner aircraft is pictured on the tarmac during the 2023 Dubai Airshow at Dubai World Central – Al Maktoum International Airport on November 13, 2023 in Dubai.

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Giuseppe Cacace AFP | Good pictures

Aircraft manufacturer Boeing racked up 295 orders over the four days of the 2023 Dubai Air Show, beating French rival Airbus’ 86 orders, according to company reports and third-party calculations. Every year the biggest aviation event in the Middle East comes with jet orders. Buyers have shown a particular appetite for wide-body planes this year, reports CNBC’s Natasha Durak. Boeing’s popularity at the show marks a remarkable recovery after years of safety concerns.

Members of the United Auto Workers went on strike at the General Motors Lansing Delta Assembly plant in Lansing, Michigan on September 29, 2023.

Bill Pugliano | Good pictures

Union workers at General Motors have agreed to a labor contract with the United Auto Workers, according to results released by the union on Thursday. With all local chapters counted, the deal received 54.7% of the nearly 36,000 votes cast. It came after a controversial final few days of voting, with several key mills rejecting the contracts. But enough workers at smaller facilities voted in favor of sealing approval. Union workers at Ford Motor and Stellantis are still voting on similar contracts. So far, those deals have received the support of roughly two-thirds of each automaker’s voting population.

WASHINGTON, DC – OCTOBER 04: US President Joe Biden delivers remarks at the White House in Washington on October 04, 2023 to support new administration efforts to cancel student loans and support borrowers.

Kevin Deitch | Good pictures

More student loan borrowers are walking away from their loans in bankruptcy proceedings — the result of a policy shift by the Biden administration to help people who are stuck in debt and struggling financially. Ten months after the policy change, student loan borrowers have filed more than 630 bankruptcy cases, a “significant increase” from recent years, Biden administration officials said. “Our efforts have made a real difference in the lives of borrowers,” Associate Attorney General Vanita Gupta said Thursday. Outstanding student loan debt in the U.S. exceeds $1.7 trillion. Economists have said the mounting debt burden could slow the US economy.

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— CNBC’s Brian Evans, Melissa Repko, Natasha Durak, Michael Wayland and Annie Nova contributed to this report.

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