Stocks (^GSPC) (^DJI) (^IXIC) are aiming for a rebound following three straight days of losses, with investors keeping close tabs on the swings in oil prices.
On the economic front, the number of people filing for weekly unemployment benefits jumped to a five-month high last week. The Labor Department reported first-time jobless claims rose by 13,000 to 282,000.
Stocks to watch
Atlassian (TEAM) priced its initial public offering last night above its projected range at $21 a share. The Australian based maker of tools for software developers raised $462 million, valuing the company at over $4 billion. Atlassian shares will begin trading on the Nasdaq this morning under the symbol "TEAM."
First Solar (FSLR), the largest solar panel maker in the U.S., issued a disappointing sales outlook for next year, as it sees only a modest panel of shipments.
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Men's Wearhouse (MW) shares are down sharply in early trading after the retailer said it will have to take a $90 million charge as a result of its failed investment in Jos. A. Bank, which saw sales fall 35% quarter-to-date. The sales drop comes as Men's Wearhouse tries to roll out a new marketing strategy by doing away with Jos. A. Bank's popular buy-one-get-three-free promotion.
FMC Technologies (FTI) is on investors’ radar following reports that the oil field services provider is in advanced merger talks with French rival Technip. This comes after the two companies formed a joint venture earlier this year amid a slump in oil prices.
Walmart Pay rolls out
The world’s largest retailer is shaking up the mobile payments industry. Walmart (WMT) is starting to roll out Walmart Pay, a smartphone-based payment system that works with credit cards, debit cards, and Walmart gift cards. Walmart Pay will run on both Android and iOS and will be available nationwide by the middle of next year.
United Brings Back Snacks
Some welcomed news from one airline. United Airlines (UAL) is adding free snacks back into its customer service. The company announced that customers on flights within North America and Latin America will be able to enjoy the new perk starting in February.
America’s Middle Class No Longer the Majority
A warning for Americans, the once-strong middle class no longer dominates the U.S. Middle class Americans now comprise less than half of the nation's population, accounting for 49.9%, down from 61% in 1971.
