Good morning traders and investors of the r/stocks sub! Welcome to FOMC Wednesday! Here are your pre-market stock movers & news on this Wednesday, March the 16th, 2022-
Dow futures jump 300 points as Wall Street tries to rally for a second day, Fed decision ahead
Stock futures posted strong gains early Wednesday surging in commodity prices eased while the war in Ukraine continues.
Stock futures rose Wednesday as traders tried to build on the sharp gains from the previous session, while Wall Street awaited the Federal Reserve’s latest monetary policy decision.
Futures on the Dow Jones Industrial Average climbed 359 points, or 1.1%, while S&P 500 futures rose 1.2%. Nasdaq 100 futures jumped 2%.
Micron Technology was among the best-performing S&P 500 stocks in the premarket, gaining more than 4%. Starbucks shares also climbed 3.5%, while Dow member Boeing advanced 2.3%.
Futures were rallying in part on signs that a ceasefire could be possible in the Russia-Ukraine war.
Ukrainian President Volodymyr Zelenskyy said a peace agreement was beginning to “sound more realistic” in an address to the nation Tuesday. Russian Foreign Minister Sergey Lavrov told the BBC there was “some hope of reaching a compromise.” Russian State media quoting the Kremlin echoed similar sentiments overnight.
The war between Ukraine and Russia has sent ripples through global financial markets, sending commodity prices sharply higher and stocks lower. However, some commodities have cooled off in recent days, while the U.S. equity market tries to find its footing.
U.S. oil traded at around $95.70 per barrel Wednesday, after topping a multiyear high of $130 earlier this month.
Stocks, meanwhile, are coming off a stellar session in which the Dow surged nearly 600 points, while the S&P 500 snapped a three-day losing streak.
Big Fed decision ahead
To be sure, all eyes are on the Fed on Wednesday, as the central bank wraps up a key two-day policy meeting.
The Fed is widely expected to raise rates by a quarter-point, the first hike since 2018. Watchers are also expecting the central bank to offer a new quarterly forecast that could indicate five or six more hikes this year.
“My guess is it’s going to sound a little more hawkish than people want it to sound, and that’s going to be a little tough to digest, particularly in the fixed income markets,” David Zervos, chief market strategist at Jefferies told CNBC’s “Closing Bell” on Tuesday. “I think the equity market might digest it a little bit better, but it’s going to be a tough swallow.”
The Fed is expected to announce an interest rate decision and economic projections at 2 p.m. on Wednesday, which will followed by a briefing from Federal Reserve Chair Jerome Powell.
STOCK FUTURES CURRENTLY:
(CLICK HERE FOR STOCK FUTURES CHARTS!)
YESTERDAY'S MARKET MAP:
(CLICK HERE FOR YESTERDAY'S MARKET MAP!)
TODAY'S MARKET MAP:
(CLICK HERE FOR TODAY'S MARKET MAP!)
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:
(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR LINK #1!)
(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR LINK #2!)
THIS WEEK'S ECONOMIC CALENDAR:
(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)
THIS WEEK'S UPCOMING IPO'S:
(CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!)
THIS WEEK'S EARNINGS CALENDAR:
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)
EARNINGS RELEASES AFTER THE CLOSE TODAY:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!)
YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
YESTERDAY'S INSIDER TRADING FILINGS:
(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)
TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #3!)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #4!)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #5!)
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
DiDi Global (DIDI), Alibaba (BABA), JD.com (JD), Pinduoduo (PDD) – China-based stocks listed in the U.S. are staging strong rallies in premarket trading, helped by state media reports that the Chinese government will take steps to support the markets and the economy, and that the U.S. and China are progressing toward an agreement on regulatory requirements for those companies. Didi surged 36.7% in the premarket, with Alibaba up 19.2%, JD.com rallying 21% and Pinduoduo soaring 32.5%.
STOCK SYMBOL: DIDI
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: BABA
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: JD
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: PDD
(CLICK HERE FOR LIVE STOCK QUOTE!)
Nvidia (NVDA) – The graphics chipmaker’s stock added 2.3% in the premarket after Wells Fargo added it to its “signature picks” list. The firm anticipates upbeat announcements from Nvidia at its upcoming investor day, and also said the recent market downdraft has helped create a favorable risk/reward profile.
STOCK SYMBOL: NVDA
(CLICK HERE FOR LIVE STOCK QUOTE!)
Boeing (BA) – Boeing gained 2% in premarket trading after Baird declared the stock a “bullish fresh pick” following a recent sell-off and noted that 737 MAX deliveries to China are close to resuming.
STOCK SYMBOL: BA
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pfizer (PFE), BioNTech (BNTX) – Pfizer and partner BioNTech have asked the FDA to approve a second booster dose of their Covid-19 vaccine. A decision could come in time for an autumn vaccination campaign. BioNTech jumped 4.4% in premarket trading, while Pfizer rose 0.6%.
STOCK SYMBOL: PFE
(CLICK HERE FOR LIVE STOCK QUOTE!)
STOCK SYMBOL: BNTX
(CLICK HERE FOR LIVE STOCK QUOTE!)
Micron Technology (MU) – Micron rallied 4.7% in the premarket following a Bernstein double upgrade to “outperform” from “underperform”. Bernstein said the Ukraine conflict won’t result in any significant memory chip supply or demand destruction, while also noting the recent sell-off in Micron and other semiconductor stocks.
STOCK SYMBOL: MU
(CLICK HERE FOR LIVE STOCK QUOTE!)
Spotify (SPOT) – The streaming services company signed a stadium and shirt sponsorship deal with Spanish soccer team FC Barcelona, with the Spotify brand on uniform shirts for the next four seasons. Spotify rose 2.6% in premarket action.
STOCK SYMBOL: SPOT
(CLICK HERE FOR LIVE STOCK QUOTE!)
NortonLifeLock (NLOK) – NortonLifeLock’s $8.6 billion deal to buy British cybersecurity rival Avast may get an in-depth probe by UK regulators, who say the deal raises competitive concerns. NortonLifeLock said it does not intend to submit any potential remedies for those concerns. Its stock slid 5.5% in the premarket.
STOCK SYMBOL: NLOK
(CLICK HERE FOR LIVE STOCK QUOTE!)
Lands’ End (LE) – The apparel retailer missed estimates by 10 cents with quarterly earnings of 21 cents per share, while revenue also fell short of Street forecasts. Lands’ End also gave a weaker-than-expected forecast as it faces increasing costs and continued supply chain challenges. Lands’ End tumbled 9.5% in premarket trading.
STOCK SYMBOL: LE
(CLICK HERE FOR LIVE STOCK QUOTE!)
Shoe Carnival (SCVL) – Shoe Carnival shares slid 3.3% in the premarket despite an upbeat quarterly report which saw it beat estimates on both the top and bottom lines. The shoe retailer issued a full-year revenue and profit forecast range that was largely – but not completely – above current Street forecasts. Shoe Carnival also announced a 29% dividend increase.
STOCK SYMBOL: SCVL
(CLICK HERE FOR LIVE STOCK QUOTE!)
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?
Leave a Reply