Futures point to a partial relief rally after Tuesday’s loss on Wall Street. This is what we are seeing before trading intensifies on Wednesday.
- The major tech stocks that closed with a loss on Tuesday edged higher before trading. Microsoft added 0.8%, Google parent Alphabet was up 0.6%, Apple gained 0.8% and chipmaker Nvidia was up 1.1%.
Micron Technology fell 3.4% before commercialization. The memory chip maker beat expectations in its recent quarterly earnings, but failed to impress Wall Street with its outlook.
- Shares of discount retailer Dollar Tree rose 4.2% before trading after the company said early Wednesday that it had added about $ 1 billion to its share buyback plan.
- Hardware maker HP fell 0.8% before marketing. JPMorgan downgraded both its rating and the stock’s target price.
- Profits are due to Cintas,
Herman Miller and Jabil before the opening bell.
- Bitcoin was up 1.2% on Wednesday from its price at 5pm ET on Tuesday, and popular cryptocurrency provider Coinbase was also up 1.2% pre-market.
- Major US airlines were up bit by bit ahead of the bell, with American Airlines down 0.7%, Delta Air Lines up 0.6%, United Airlines down 0.4% and Southwest Airlines down 0.6%.
- Vaccine makers that were hit by Tuesday’s market downturn were seeing a rebound. Moderna gained 2.2% pre-market and Novavax was up 2.5%.
Cal-Maine Foods was up 1.9% pre-market. The egg producer’s losses were reduced in the first fiscal quarter, as sales increased 13% due to higher sales prices.
Landec will report the results after Wednesday’s close.
Chart of the day
- A rapid rise in government bond yields is weighing on the tech-savvy stocks that have driven major indices higher for years, testing investors’ faith in some of the most popular trades on the market. values.
Write James Willhite at [email protected]
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