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 Wednesday, March the 29th, 2023-
Dow futures rise more than 200 points as Wall Street tries to rebound from Tuesday’s losses: Live update
U.S. stock futures rose Wednesday as traders looked to recover from a down session.
Dow Jones Industrial Average futures gained 224 points, or 0.7%. S&P 500 and Nasdaq 100 futures climbed 0.8% each.
Lululemon shares popped 14% in the premarket after the athletic apparel retailer beat Wall Street’s estimates for adjusted earnings and revenue. Meanwhile, Micron shares climbed more than 2% after the chipmaker posted its fiscal second-quarter figures.
The benchmark 10-year note yield advanced to 3.58%, and the short-term 2-year rate climbed to 4.08%. Those declines come a day after both yields advanced, putting pressure on the broader stock market.
The major averages fell Tuesday, as some investors worried that higher interest rates could tip the economy into a recession — even as Wall Street tried to move past this month’s regional banking crisis.
“When you dig beneath the headline, it’s a little weaker than the headline suggests. So, for instance, if you break up the Nasdaq into quintiles, only the top quintile is up; all four of the other quintiles are down,” Solus Alternative Asset Management’s Dan Greenhaus said Tuesday on CNBC’s “Closing Bell.”
“They have the largest weighting in a number of indices. But at the same time, we shouldn’t be lured to sleep, so to speak, in saying that everything’s all well in the Nasdaq or the S&P or wherever, if most of the carrying is being done by the top portion,” he added.
The Federal Reserve’s Vice Chair of Supervision Michael Barr will make another appearance in Washington on Wednesday, this time before the House Financial Services Committee. This hearing will address federal regulators’ response to recent bank failures.
On the economic front, traders are awaiting the latest pending home sales data that’s set to release Wednesday after the open. Economists polled by Dow Jones forecast a decline of 3% in February, down from a rise of 8.1% the previous month.
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:
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STOCK SYMBOL: (NONE.)
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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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