Good Friday morning traders and investors of the r/stocks sub! Welcome to the final trading day of this week. Here are your pre-market movers & news this AM-
Stock futures fall as investors await key inflation and consumer data: Live updates
U.S. stock futures fell Friday morning as traders looked to the release of key inflation data.
Dow Jones Industrial Average futures fell by 141 points, or 0.4%. S&P 500 and Nasdaq-100 futures slid 0.5% and 0.9%, respectively.
The core personal consumption expenditures price index, the Fed’s preferred measurement of inflation, is slated for release at 8:30 a.m. ET. Economists expect a 0.5% month over month gain, according to Dow Jones.
Investors are also awaiting the January data on personal income and consumer spending will have further insight into the U.S. consumer; both figures are due out Friday before the bell.
Personal income is expected to have risen 1.2% last month, according to Dow Jones consensus estimates. That’s up from an increase of 0.2% the prior month. Consumer spending is forecasted to rise 1.4% in January, up from a decline of 0.2% the prior month.
Boeing shares slipped more than 2% after the company temporarily halted delivery of its 787 Dreamliners over a fuselage issue.
During Thursday’s session, the S&P 500 advanced 0.53%. Meanwhile, the Dow Jones Industrial Average gained 108.82 points, or 0.33%, while the Nasdaq Composite rose 0.72%.
Even so, the major averages are headed for a losing week. The S&P 500 is down 1.64% through Thursday, and is set for its worst week since Dec. 16. The Dow is down nearly 1.99% this week, and headed for its fourth straight losing week. The Nasdaq is 1.67% lower, and on pace for its second negative week in three.
Investors continue to worry about the pace of future interest rate hikes in the face of contradictory economic signals. While inflation remains persistently high, the U.S. consumer has continued to show strength.
“We’re still looking down the barrel of a gun that has not come to grips with what the consumer may or may not have strength for for the rest of the year, and what earnings are going to do for the rest of the year. And I think the equity market is being overly optimistic,” SoFi’s Liz Young said Thursday on CNBC’s “Halftime Report.”
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!)
NEXT WEEK'S ECONOMIC CALENDAR:
(CLICK HERE FOR NEXT WEEK'S ECONOMIC CALENDAR!)
NEXT WEEK'S UPCOMING IPO'S:
(CLICK HERE FOR NEXT WEEK'S UPCOMING IPO'S!)
NEXT WEEK'S EARNINGS CALENDAR:
([CLICK HERE FOR NEXT WEEK'S EARNINGS CALENDAR!]())
(T.B.A. THIS WEEKEND.)
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!]())
(NONE.)
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!)
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Beyond Meat — Shares jumped 12% after Beyond Meat reported a smaller-than-expected loss in its fourth quarter, even with sales falling more than 20%. The meat-alternative company reported a loss per share of $1.05, lower than the expected $1.18, according to Refinitiv. It posted revenue of $79.9 million, more than the $75.7 million expected.
STOCK SYMBOL: BYND
(CLICK HERE FOR LIVE STOCK QUOTE!)
Block — Shares of the payments giant rose more than 6% in early morning trading after the company reported better-than-expected revenue for the fourth quarter and strong growth in gross profit.
STOCK SYMBOL: SQ
(CLICK HERE FOR LIVE STOCK QUOTE!)
Carvana — The used-car retailer sank 5.8% after posting a fourth-quarter loss of $7.61 per share, greater than the forecasted loss of $2.28 per share, according to consensus estimates from Refinitiv. Revenue came in at $2.84 billion, a 24% drop from the fourth quarter of 2021 and lower than analysts’ expectations of $3.1 billion.
STOCK SYMBOL: CVNA
(CLICK HERE FOR LIVE STOCK QUOTE!)
Sweetgreen — Shares of the salad chain shed about 10% after Sweetgreen issued weaker-than-expected revenue guidance for the first quarter and full year, according to Refinitiv. Fourth-quarter revenue also fell short. Higher menu prices and fewer transactions hurt the firm, as did romaine, arugula and tomato shortages.
STOCK SYMBOL: SG
(CLICK HERE FOR LIVE STOCK QUOTE!)
Adobe — Shares fell more than 3% after a Bloomberg report, citing an unnamed source, said the U.S. Justice Department is planning to block the company’s $20 billion acquisition of startup Figma in a lawsuit.
STOCK SYMBOL: ADBE
(CLICK HERE FOR LIVE STOCK QUOTE!)
MercadoLibre — MercadoLibre jumped 5% after the South American e-commerce firm reported fourth-quarter earnings of $3.25 per share on revenue of $3 billion. Analysts surveyed by FactSet were anticipating earnings of $2.42 per share and revenue of $2.96 billion.
STOCK SYMBOL: MELI
(CLICK HERE FOR LIVE STOCK QUOTE!)
Boeing — Shares of the industrial giant dropped more than 2% in premarket trading after the company said it has temporarily halted deliveries of its 787 Dreamliners so it can do additional analysis on a fuselage component. The planes, which are often used for long-haul international routes, have suffered several issues for several years.
STOCK SYMBOL: BA
(CLICK HERE FOR LIVE STOCK QUOTE!)
EOG Resources — EOG Resources slid 3.6% after the energy company reported fourth-quarter earnings, excluding items, that were short of analysts’ expectations, according to FactSet. The company beat on revenue, however.
STOCK SYMBOL: EOG
(CLICK HERE FOR LIVE STOCK QUOTE!)
Warner Bros. Discovery — The stock fell 4% after Warner Bros. Discovery posted disappointing results in its latest quarter. The media and entertainment conglomerate reported a loss of 86 cents per share on revenue of $11.01 billion. Analysts polled by Refinitiv called for a loss of 21 cents per share on revenue of $11.36 billion.
STOCK SYMBOL: WBD
(CLICK HERE FOR LIVE STOCK QUOTE!)
Autodesk — Shares dropped more than 4% after Autodesk issued soft guidance on first-quarter earnings. Otherwise, the software company beat fourth-quarter expectations on the top and bottom lines, according to Refinitiv.
STOCK SYMBOL: ADSK
(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