Good morning traders and investors of the r/stocks sub! Welcome to the new trading day and a fresh start! Here are your pre-market stock movers & news on this Tuesday, May the 9th, 2023-
Stock futures fall as investors await closely followed inflation data: Live updates
Stock futures were under pressure Tuesday, with regional bank shares retreating, as investors readied for key inflation reports due later in the week.
Futures tied to the Dow Jones Industrial Average lost 121 points, or 0.4%. S&P 500 futures dipped 0.4% along with Nasdaq-100 futures.
PacWest shares fell more than 8% in the premarket after a volatile session in which the regional bank rose more than 3%. The SPDR S&P Regional Banking ETF (KRE) dipped 0.8%, as investors continued to fret over the state of the U.S. banking system.
Lucid, PayPal and Skyworks were all down after their quarterly reports were released. Meanwhile, Palantir jumped 20% on a strong earnings report and upbeat guidance.
The moves follow a lukewarm session that left the three major indexes modestly changed. The S&P 500 finished 0.05% higher, while the Nasdaq Composite ended with a gain of nearly 0.2%. The Dow was the underperformer of the session, closing almost 0.2% lower.
“If we look across markets today, the price action is relatively muted,” said Charlie Ripley, senior investment strategist at Allianz Investment Management. “There’s somewhat of a sigh of relief that the report wasn’t worse than expected.”
Traders are also looking ahead to April’s consumer price index report slated for Wednesday and the producer price index on Thursday for the newest data on the path of inflation.
Elsewhere, Treasury Secretary Janet Yellen said on CNBC Monday afternoon that failing to raise the debt ceiling would be an “economic catastrophe” and that regulators are not close to any policies that would limit short-selling regional bank stocks.
Investors will watch Tuesday for morning data from the National Federation of Independent Business. Fed Governor Philip Jefferson and New York Fed President John Williams are both slated to speak at events over the course of the day.
Fox Corp. and Nikola are among companies set to report quarterly earnings before the bell, followed by Airbnb and Rivian after the market closes. Earnings season is beginning to wind down with more than 85% of the stocks in the S&P 500 done reporting.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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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:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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THIS AFTERNOON'S AFTER-HOURS EARNINGS CALENDAR:
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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:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: [cnbc.com](TO BE POSTED LATER THIS MORNING.))
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STOCK SYMBOL: (TO BE POSTED LATER THIS MORNING.)
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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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