Good morning traders and investors of the r/stocks sub! Welcome to Hump Day! Here are your pre-market stock movers & news on this Wednesday, December the 28th, 2022-
Stock futures climb fractionally as investors look to new year
Stock futures climbed fractionally Wednesday morning as traders look to the end of a losing year and prepare for 2023.
Futures tied to the Dow Jones Industrial Average added 91 points, or 0.27%. S&P 500 and Nasdaq 100 futures were up 0.25% and 0.2%, respectively.
Investors will look for insights into the state of the economy in manufacturing data from the Richmond Federal Reserve and pending home sales coming Wednesday morning. Market participants will be looking for numbers that can signal the economy is cooling, which they hope could indicate to the Fed that interest rate hikes can continue slowing.
Tuesday kicked off the start of a holiday-shortened trading week. The Dow rose 37.63 points, or 0.11%, to close at 33,241.56. The S&P 500 fell 0.40%.
The Nasdaq Composite shed nearly 1.4%, driven down by an 11% drop in Tesla stock after The Wall Street Journal reported that the electric vehicle maker would continue a weeklong production pause at a Shanghai facility. Tuesday marked the seventh straight day of losses for the stock.
It comes at the end of a tumultuous year for the electric-vehicle maker as owner Elon Musk executed a chaotic purchase of Twitter. Tesla’s share value is down 69% this year.
“A year ago, Musk was a hero and there was panic buying to the upside,” said Eric Jackson, founder of EMJ Capital, on “Closing Bell: Overtime.” “Right now … it’s panic selling.”
With three trading days left in 2022, the stock market is on track for its worst year since 2008. The Nasdaq has performed the worst of the three indexes, losing 33.8% this year as investors rotated out of growth stocks amid rising recession fears. The Dow and S&P 500 are on track to lose 8.5% and 19.7%, respectively.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)
TODAY'S S&P SECTORS:
(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)
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:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR!)
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Tesla (TSLA) – Tesla gained 1.6% in the premarket in a volatile session, following a seven-day losing streak and declines in ten of the past eleven sessions. Baird reduced its price target on Tesla to $252 per share from $316, but continues to rate the stock outperform.
STOCK SYMBOL: TSLA
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AMC Entertainment (AMC) – AMC Entertainment rose 1.2% in premarket trading after CEO Adam Aron asked the movie theater chain’s board to freeze his salary. He also urged other top AMC executives to do the same.
STOCK SYMBOL: AMC
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Southwest Airlines (LUV) – Southwest Airlines fell 1.3% in premarket action as it continues to cancel flights in its struggle to return to a normal schedule. Southwest has canceled thousands of flights over the past week, following a severe winter storm, and is limiting bookings over the next few days.
STOCK SYMBOL: LUV
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Nvidia (NVDA), Micron Technology (MU) – These and other semiconductor stocks remain on watch as investors focus on an oversupply of chips. That is in sharp contrast to the global shortage during the pandemic, when demand was surging.
STOCK SYMBOL: NVDA
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STOCK SYMBOL: MU
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Apple (AAPL) – Apple is marginally higher in the premarket following its Tuesday close, which was the lowest since June 2021. Apple fell during the past three days and in eight of the past nine trading sessions.
STOCK SYMBOL: AAPL
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Lyft (LYFT) – The ride-hailing company’s stock remains on watch after closing lower than $10 per share for the first time since going public in 2019. It rebounded by 1.1% in premarket trading.
STOCK SYMBOL: LYFT
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Generac (GNRC) – The power equipment maker’s stock was rated buy in new coverage at Janney Montgomery Scott with a price target of $160, implying a 76% upside from current levels. Generac is the worst performer in the S&P 500 for 2022 with a 74.1% decline.
STOCK SYMBOL: GNRC
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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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