Good morning traders and investors of the r/stocks sub! Welcome to Tuesday! Here are your pre-market stock movers & news on this Tuesday, August the 30th, 2022-
Dow futures pop 200 points after back-to-back losing sessions on Wall Street
Stock futures rose Tuesday as Wall Street sought stability after another down day for stocks.
Futures for the Dow Jones Industrial Average traded 231 points higher, or 0.7%. S&P 500 futures advanced 0.9%, and Nasdaq 100 futures added 1.1%.
The moves in futures comes as energy prices eased. West Texas Intermediate futures, the U.S. oil benchmark, fell more than 1%. Natural gas futures also dipped.
Wall Street is coming off a second-straight decline, with the Dow losing 184 points Monday. The S&P 500 fell 0.67% and the Nasdaq Composite sank 1.02%.
The market has given back some of its summer gains after recent comments by Federal Reserve officials made clear that the central bank aims to continue its rate hikes, even if they cause economic pain.
“Investors are coming to terms with the idea that the Fed is serious about curbing inflation, even as recent data suggests inflation is starting to decline,” said Rod von Lipsey, managing director at UBS Private Wealth Management.
“We believe the market’s summer rally was ephemeral and continue to recommend that investors remain selective and focus on defensive stock sectors like health care and dividend-paying stocks,” von Lipsey added.
On Tuesday, investors will get several updates on the state of the economy, including the FHFA home price index for June, the Conference Board’s consumer confidence survey for August, and the Bureau of Labor Statistics’ job openings release for July.
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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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)
Best Buy (BBY) – Best Buy gained 2.6% in the premarket after the electronic retailer beat Street forecasts on the top and bottom lines for its latest quarter, while comparable store sales declined less than expected.
STOCK SYMBOL: BBY
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Big Lots (BIG) – The discount retailer reported a smaller-than-expected quarterly loss and better-than-expected revenue. Comparable store sales also fell less than analysts had forecast. The stock rose 2.7% in premarket trading.
STOCK SYMBOL: BIG
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First Solar (FSLR) – First Solar rose 1.9% in premarket action after announcing it would spend $1.2 billion to expand U.S.-based manufacturing, including a new factory in the southeast. The solar equipment maker earlier this year had said it was unlikely to build new U.S. facilities, but changed its strategy due to the tax incentives provided by the recently passed Inflation Reduction Act.
STOCK SYMBOL: FSLR
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Twitter (TWTR) – Twitter fell 1% in premarket trading after Elon Musk sent a second deal termination notice. Musk first announced he was pulling out of his $44 billion deal to buy Twitter in early July. The second notice – detailed in an SEC filing – gives additional reasons for pulling out, including the contention that allegations detailed in the recent whistleblower complaint could have severe consequences for Twitter’s business.
STOCK SYMBOL: TWTR
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Baidu (BIDU) – Baidu reported better-than-expected profit and revenue for its latest quarter, with the China-based search engine company seeing a recovery in ad sales and stronger demand for its cloud-based offerings. Baidu shares added 3.8% in the premarket.
STOCK SYMBOL: BIDU
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Bed Bath & Beyond (BBBY) – The housewares retailer’s stock surged 11.7% in the premarket after soaring 25% yesterday. The company – popular among “meme stock” traders – will deliver a business and strategic update Wednesday.
STOCK SYMBOL: BBBY
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Lucid Motors (LCID) – Lucid filed a so-called shelf offering to raise up to $8 billion. The electric vehicle maker said it has no plans to sell any securities at this time. Lucid slid 1.4% in premarket trading.
STOCK SYMBOL: LCID
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Netflix (NFLX) – Netflix is denying a Bloomberg report that it’s mulling a $7 to $9 monthly charge for its upcoming ad-supported streaming service. The company told the New York Post it is still in the early planning stages for the service and that no pricing decisions have been made. Netflix added 1.4% in premarket action.
STOCK SYMBOL: NFLX
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SolarEdge Technologies (SEDG) – SolarEdge could be subject to an import ban, depending on the results of an International Trade Commission probe. Smaller solar equipment rival Ampt claims that SolarEdge’s power optimizers and inverters infringe two of its patents. SolarEdge gained 1% in premarket trading.
STOCK SYMBOL: SEDG
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Peloton (PTON) – Peloton needs more time to file its annual report for the year ending June 30, according to an SEC filing. The fitness company said it is still in the process of sorting out accounting related to its planned restructuring. The stock rose 1.4% in the premarket.
STOCK SYMBOL: PTON
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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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