Wall Street Trading Updates

Wall Street is trading in tight ranges ahead of labor market data, which is a precursor to Friday's jobs report. Shell and Equinor announced a North Sea joint venture, while UnitedHealth faces leadership challenges after the death of a senior executive. French PM Michel Barnier is set to resign, contributing to political instability.

1. Fatal Shooting of UnitedHealth Executive

UnitedHealth (NYSE:UNH) will be in the spotlight Thursday following the fatal shooting of Brian Thompson, CEO of its insurance unit. His death is being investigated as a targeted attack.

Thompson had received threats prior, according to his wife, possibly linked to his role in the company. UnitedHealth, the largest U.S. health insurer, serves tens of millions of Americans.

2. Futures Subdued Ahead of Jobless Claims

U.S. stock futures traded in tight ranges as Wall Street indices hit new highs. Dow futures were up slightly, while S&P 500 and Nasdaq futures saw minor declines. The markets await labor market data and jobless claims ahead of Friday's monthly jobs report.

3. Bitcoin Soars Past $100,000

Bitcoin has surged past $100,000, hitting record highs as traders reacted positively to President-elect Donald Trump's nomination of Paul Atkins as SEC head. This represents a significant increase from its low this year.

4. French PM Barnier Set to Resign

French PM Michel Barnier is expected to resign following a no-confidence vote, leading to political uncertainty in France. This follows a budget controversy that has left the government fragile and investors anxious.

5. Crude Prices Inch Higher; Shell and Equinor Form Joint Venture

Oil prices rose due to a larger-than-expected draw in U.S. inventories. OPEC+ plans to discuss potential output levels in their upcoming meeting. Shell and Equinor announced a joint venture to create the largest independent producer in the UK North Sea, setting a target output of over 140,000 barrels of oil equivalent per day in 2025.