Good morning traders and investors of the r/stocks sub! Welcome to Tuesday! Here are your pre-market stock movers & news on this Tuesday, December the 27th, 2022-
Stock futures rise heading into the final trading week of 2022
U.S. stock futures rose on Tuesday as the final trading days of 2022 kicked off and investors hoped a Santa Claus rally will appear and lift a market that has been weighed down by recession fears.
Dow Jones Industrial Average futures rose by 160 points, or 0.48%. S&P 500 and Nasdaq 100 futures advanced 0.4% and 0.1%, respectively.
During the regular session Friday, the Dow Jones Industrial Average closed 176 points higher, or 0.5%. The S&P 500 rose 0.6%, and the Nasdaq Composite added 0.2%.
Friday marked the start of the time period for a Santa Claus rally, which is typically considered the final five-day trading stretch in the current year, as well as the first two trading days in the new year. Markets were closed Monday for the Christmas holiday.
Due to low trading volumes, investors are expecting either relative quiet or further volatility during the holiday-shortened week. Markets are closing out a month and year defined by a surge in recession fears.
In December, the S&P 500 dropped roughly 5.8%, while the Dow and Nasdaq dropped about 4% and 8.5%, respectively. These are the biggest monthly declines since September. The major averages are headed for their worst annual performance since 2008.
″[The] question of what kind of recession remains unanswered,” Quincy Krosby, chief global strategist at LPL Financial, wrote Friday. “And for this, the answer is dictated primarily from how much more the Fed needs to raise rates to finally tackle sticky inflation.”
On the economic front, traders are expecting the latest data on November wholesale inventories and the October S&P/Case-Shiller home prices Tuesday before the bell.
STOCK FUTURES CURRENTLY:
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FRIDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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FRIDAY'S S&P SECTORS:
(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)
TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(NONE.)
([CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!]())
EARNINGS RELEASES BEFORE THE OPEN TODAY:
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(NONE.)
EARNINGS RELEASES AFTER THE CLOSE TODAY:
([CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!]())
(NONE.)
YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
China ADRs – Shares of China-based companies that trade in the U.S. rose in the premarket after the easing of Covid restrictions by the Chinese government. Among them: Alibaba (BABA) was higher by 1.5%, JD.com (JD) gained 2.2% and Pinduoduo (PDD) was up 2.1%.
STOCK SYMBOL: BABA
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Southwest Airlines (LUV) – Southwest slid 4.1% in the premarket following thousands of flight cancellations over the holiday weekend, a higher amount than experienced by other major airlines amid winter storm issues. United Airlines (UAL), American Airlines (AAL), Delta (DAL) and JetBlue (JBLU) all rose in premarket action.
STOCK SYMBOL: LUV
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Tesla (TSLA) – Tesla fell 5.3% in premarket trading, after falling for six consecutive trading days and nine of the past ten. Tesla is down about 65% for the year to date, and on pace for its largest-ever yearly loss. The latest slide follows news that the automaker will run production at a reduced rate at its Shanghai factory in January, following an end-of-December shutdown.
STOCK SYMBOL: TSLA
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Peloton (PTON) – Peloton is selling refurbished bikes at discounts of up to $500 compared with new ones. The new program is the latest effort by Peloton to boost demand, following the expansion of its rental program earlier this year. Peloton rose 1% in the premarket.
STOCK SYMBOL: PTON
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Nio (NIO) – Shares of the Chinese electric car maker slumped 6.4% in premarket trading after it cut its fourth-quarter delivery forecast, saying the Covid breakout in major China cities constrained its supply chain.
STOCK SYMBOL: NIO
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Farfetch (FTCH) – The luxury e-commerce platform operator was assigned a B- rating by S&P Global Ratings with a negative outlook, which noted the company’s significant negative cash flow. Farfetch rose 1% in premarket action.
STOCK SYMBOL: FTCH
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
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