Markets are mixed in early trading as the first trading week of December ends, with S&P futures up about +0.17% while the small-caps are showing weakness with Russell 2000 futures down -0.13%.

Netflix (NFLX) looks to be the victor in the bidding war for Warner Bros. Discovery (WBD) with its $72B cash and stock offer, sending its shares down about -2%.

Meanwhile, Hewlett Packard Enterprise (HPE) is down about -8% after earnings showed weak revenue.

Earnings are light with Toll Bros. (TOL) to watch on Monday, while today’s economic data includes Core PCE, Personal Income and Spending, and Michigan Consumer Sentiment.

• Oil (/CL) – Oil prices are down slightly and hovering close to $59.60.

• Gold (/GC) – Gold futures are up about +0.3% near 4,255, as yesterday’s +0.7% gain continued several sessions of muted activity. 

• Bitcoin (/BTC) – Bitcoin futures are down -1.4% near 91,500, with the cryptocurrency extending yesterday’s -1.7% slide.

• VIX – The VIX closed at 15.78 yesterday against the previous session’s 16.08 close, with the 15 level representing a notable and repeated bottoming point.

• U.S. Dollar (/DX) – U.S. dollar futures are almost flat showing a +0.04% increase at about 99 after a +0.2% gain yesterday.

• BNP Paribas Exane upgrades Barrick Mining (B) to Outperform from Neutral

• Barclays upgrades Rollins (ROL) to Overweight from Equal Weight

• Jefferies upgrades Humana (HUM) to Buy from Hold

• Johnson Rice downgrades ConocoPhillips (COP) to Hold from Accumulate

• BNP Paribas Exane downgrades Newmont (NEM) to Neutral from Outperform

• Barclays downgrades AIG (AIG) to Equal Weight from Overweight

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