Dow nears 19,000; Nintendo jumps on Super Mario; Oil down

premarket wednesday
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1. Dow nears 19,000: The Dow Jones industrial average is just 77 points away from hitting the magical level of 19,000 points.

The index posted gains for the seventh consecutive day on Tuesday, closing yet again at a fresh all-time high. It has jumped nearly 700 points -- or 5.5% -- in the five trading sessions following Donald Trump's election victory.

But U.S. stock futures are edging down early Wednesday, signaling the Trump rally might finally be coming to an end.

2. Nintendo jumps: Shares in Japanese gaming firm Nintendo (NTDOF) were up almost 3% Wednesday after the company announced it will release its new Super Mario game on December 15.

The long-awaited iOS version of Super Mario Run will be Nintendo mascot's first appearance in a smartphone game.

Related: The Trump market rally: Too far, too fast

3. Rolls Royce cuts: The British engineering company said it will continue its cost-cutting program to offset "mixed market conditions" and higher engineering costs.

Rolls Royce (RYCEF), which manufactures engines for jets and ships, said it now expects savings of up to £200 million ($249 million) this year.

4. Global market overview: European markets are mostly flat, but the DAX and FTSE 100 are edging lower.

Markets in Asia ended the day mixed. Japan's Nikkei added more than 1%.

Crude oil prices fell 1% early Wednesday to trade at $45.40 per barrel. Crude futures had rallied 5% on Tuesday because investors are still hoping OPEC will be able to agree production cuts in order to lift prices.

"There is a certain amount of deja vu surrounding the lead up to the OPEC meeting at the end of this month. Rhetoric regarding crude oil production cuts is once again surfacing, leaving traders to once again question whether the oil producing countries are serious this time," said Fiona Cincotta, a market analyst at Finspread.

The Dow Jones industrial average added 0.3% on Tuesday, while the S&P 500 was up 0.8% and the Nasdaq gained 1.1%.

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5. Earnings and economics: Lowe's (LOW) and Target (TGT) plan to release earnings before the open Wednesday, while Cisco Systems (CSCO) is set to release earnings after the close.

The Bureau of Labor Statistics plans to release its PPI report for October at 8:30 a.m. ET. The Federal Reserve plans to release its Industrial Production and Capacity Utilization reports at 9:15 a.m.

The Department of Energy will released latest crude oil inventories data at 12:30 p.m.

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6. Coming this week:
Wednesday - Target (TGT) earnings
Thursday - Walmart (WMT) earnings; Janet Yellen testifies about economic outlook Friday - "Fantastic Beasts and Where to Find Them" release, "The Grand Tour" premieres on Amazon Prime