(Photo credit: Flickr – Scott Beale)
PARIS, Sept 2 (Reuters) – Top stocks to watch on Friday on Wall Street, where major index futures suggest an opening down 0.1% for the Dow Jones .DJI , 0.05% for the Standard & Poor’s 500 .SPX and 0.16% for the Nasdaq .IXIC:
* TECHNOLOGY and growth stocks, such as AMAZON AMZN.O , NVIDIA NVDA.O or MICROSOFT MSFT.O , sensitive to changes in interest rates, are in the red ahead of the stock market as publication approaches the monthly report on employment in the United States, which could support expectations of an accelerated tightening of monetary policy by the Federal Reserve.
* OIL GROUPS rise in the forefront in the wake of the rebound in crude as an OPEC+ meeting to discuss a production cut is scheduled for September 5: EXXONMOBIL XOM.N takes 1.5%, OCCIDENTAL PETROLEUM OXY.N , while DEVON ENERGY DVN.N , MARATHON OIL MRO.N advanced 2.5% to 3%.
* BROADCOM AVGO.O reported better-than-expected quarterly results on Thursday and expects fourth-quarter revenue to beat expectations as the semiconductor maker capitalizes on strong demand from companies going digital . The action takes 1.9% before the market.
* STARBUCKS SBUX.O on Thursday appointed as chief executive Laxman Narasimhan, who earlier in the day announced his departure from the management of British consumer goods group Reckitt.
* LULULEMON ATHLETICA LULU.O has raised its full-year profit and revenue forecast to exceed analysts’ expectations. The title climbed 10% in trade before the opening of Wall Street.
* EXXON MOBIL XOM.N and SHELL SHEL.L have announced the sale of their California-based joint venture Aera to German asset management group IKAV for four billion dollars, ending a 25-year partnership.
* META PLATFORMS META.O and QUALCOMM QCOM.O have reached an agreement for the semiconductor maker to supply the owner of Facebook with custom chips for its Quest virtual reality devices.
* The UK competition authority cleared NORTONLIFELOCK NLOK.O’s takeover of UK rival Avast AVST.L on Friday, ruling that the security software market would remain competitive after two of its biggest players merged for a of $8.6 billion. Nortonlifelock shares are virtually unchanged in forecourt at $22.08.
* PINDUODUO PDD.O – The Chinese group listed on Wall Street has launched an online commerce platform in the United States called Temu, its very first abroad, the Nikkei Asia reported on Friday. The action fell 1.6% before the market.
* DOW DOW.N , LYONDELL BASELL INDUSTRIES – JPMorgan lowered its recommendation on both stocks to “neutral” from “overweight”, saying it expected lower prices and volumes in the chemicals sector.
(Written by Laetitia Volga and Claude Chendjou, edited by Sophie Louet and Marc Angrand) ((Rédaction de Paris; +33 1 49 49 50 00))