Good Monday morning traders and investors of the r/stocks sub! Welcome to the new trading week and a fresh start! Here are your pre-market stock movers & news on this Monday, August 8th, 2022-
Stock futures rise following S&P 500′s third winning week in a row
Stock futures rose on Monday morning, following the S&P 500′s third straight weekly gain, as investors shifted focus to a key inflation report this week.
Futures on the Dow Jones Industrial Average gained 139 points or 0.4%. S&P 500 futures and Nasdaq 100 futures advanced 0.5% and 0.6%, respectively.
Monday’s gain follows a weekly rise for the S&P 500 and the Nasdaq Composite as a surprisingly strong monthly jobs report eased some recession fears. The resilient labor market also signaled that the economy could withstand more rate hikes from the Federal Reserve.
“The stock market rally since the June 16 low looks to have legs in our view based on economic data and earnings results reported through last Friday,” Oppenheimer chief investment strategist John Stoltzfus said in a note to clients.
Some clean energy related shares gained after the Senate passed a $430 billion climate bill, the Inflation Reduction Act, which is expected to be passed by the House later this week. The Invesco Solar ETF was higher by 1.7% in early trading.
A new reading for the consumer price index, slated for release Wednesday, will give investors more clarification about the central bank’s next move at its policy meeting in September. Traders are now pricing in a higher likelihood of a 0.75 percentage point hike next month, which would be the third straight increase of that magnitude.
Headline CPI, which includes energy and food, is expected to dip to 8.7% in July, from a 40-year high of 9.1% in June, according to Dow Jones estimates.
STOCK FUTURES CURRENTLY:
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LAST WEEK'S MARKET MAP:
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TODAY'S MARKET MAP:
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LAST WEEK'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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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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FRIDAY'S ANALYST UPGRADES/DOWNGRADES:
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FRIDAY'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)
Palantir (PLTR) – The data analytics company’s stock plunged 15.6% in premarket trading after it reported an unexpected quarterly loss, and lowered its full-year forecast due to the uncertain timing of some government contracts.
STOCK SYMBOLS: PLTR
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Signify Health (SGFY) – CVS Health (CVS) is planning a bid for Signify in an effort to expand in-home health services, according to people familiar with the matter who spoke to The Wall Street Journal. The paper had reported last week that Signify was exploring strategic alternatives including a sale. Its stock surged 16.7% in the premarket.
STOCK SYMBOLS: SGFY
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Global Blood Therapeutics (GBT) – The maker of blood disorder treatments will be bought by Pfizer (PFE) for $5.4 billion, or $68.50 per share in cash. Global Blood shares soared 88% over the past two sessions following reports that a deal was near, and gained another 4.2% in the premarket.
STOCK SYMBOLS: GBT
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Tyson Foods (TSN) – The beef and poultry producer reported quarterly profit of $1.94 per share, 4 cents a share shy of estimates. Revenue beat forecasts, however, as beef demand remained high. Chicken volume fell 2.1% but Tyson said that business continues to improve. Tyson shares slid 2.5% in premarket trading.
STOCK SYMBOLS: TSN
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Barrick Gold (GOLD) – The mining company’s shares added 3.2% in premarket trading following better-than-expected quarterly results, helped by higher copper output.
STOCK SYMBOLS: GOLD
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Baidu (BIDU) – The China-based search engine company won approval to operate driverless taxi services in two Chinese cities, the first such approvals in the country. Baidu added 1.2% in premarket action.
STOCK SYMBOLS: BIDU
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First Solar (FSLR) – The solar company was upgraded to “buy” at Guggenheim and to “overweight” at J.P. Morgan Securities, with both saying First Solar is among those poised to benefit most from the Senate-passed Inflation Reduction Act. First Solar gained 4.2% in premarket action, with other solar stocks rallying as well.
STOCK SYMBOLS: FSLR
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Emerson Electric (EMR) – The manufacturing company is selling its InSinkErator garbage disposal business to appliance maker Whirlpool (WHR) for $3 billion.
STOCK SYMBOLS: EMR
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Avalara (AVLR) – The tax software provider agreed to be acquired by private-equity firm Vista Partners for $8.4 billion, including debt, or $93.50 per share. Avalara fell 4% in the premarket but had risen 30% since reports of a potential deal first surfaced in early July.
STOCK SYMBOLS: AVLR
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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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