Futures point to a slightly higher open
U.S. stock futures were pointed to modest gains for Wall Street on Friday, with the blue-chip Dow futures rising 55.5 points, or 0.19% to 29,883.5 as of 6:15 a.m. ET.
Those for the S&P 500 gained 5.32 points, or 0.15% to 3,632.62 while the tech-heavy Nasdaq 100 futures were up 43.37 points, or 0.36% to 12,195.62.
The stock market was closed on Thursday in observance of Thanksgiving Day. The New York Stock Exchange and Nasdaq will close at 1 p.m. ET today.
Salesforce said to be in advanced talks to buy Slack
Meanwhile, Salesforce (NYSE: CRM) is reportedly in advanced talks to acquire Slack Technologies (NYSE: WORK) according to a report from The Wall Street Journal.
People familiar with the matter told the Journal that a deal could be reached within days, possibly by the time Salesforce announces its quarterly results on Tuesday. However, there is no guarantee the companies will reach a deal.
The acquisition, which would be Salesforce’s largest ever, would bring it into fierce competition with Microsoft (NYSE: MSFT) and perhaps trigger other cloud-related mergers and acquisitions.
As of this writing, Salesforce stock was up 1.05% to $249.40 a share in the pre-market trading session Friday. Slack shares fell 4.64% to $38.81.
Facebook could launch Libra cryptocurrency early next year
In other news, the Financial Times says that Facebook (NASDAQ: FB) will launch its Libra cryptocurrency in limited format as early as January.
Three unidentified people involved in the project told the news outlet that the Geneva-based Libra Association will issue and govern Libra plans to launch a single digital coin. The cryptocurrency will be backed entirely by the U.S. dollar.
Libra was unveiled by Facebook last year and relaunched in a slimmed-down format following concerns by central banks and regulators across the world that it could erode mainstream power over money and upset financial stability.
Facebook and Google to face tougher competition rules in the UK
Facebook and Alphabet (NASDAQ: GOOG)’s subsidiary Google will be under scrutiny in the United Kingdom, after the government announced early Friday it plans to create a Digital Markets Unit that will implement “a new code to govern the behavior of platforms that currently dominate the market.”
The government said in a press release that the code is designed to make sure that consumers, small businesses, and news publishers are not hurt by actions taken by tech giants.
The unit is expected to be launched next April inside the UK’s existing competition regulator, the Competition and Markets Authority.
Facebook and Google are often criticized for their digital advertising practices. The two tech titans have committed to work with UK lawmakers and regulators, including giving users more control over their personal data.
