Novavax Stock- Novavax, Tesla, Match, Palantir: What to Watch When the Stock Market Opens Today
Here’s what we’re watching as markets kick into gear on Tuesday.
- U.S. stock futures and global indexes fell after concerns about rising inflation resurfaced, prompting a selloff in highflying technology stocks.
- Futures tied to the S&P 500 dropped 0.8%, a day after the broad market index declined 1% from its record closing level. Nasdaq-100 futures retreated 1.4%, suggesting that tech stocks were poised for further losses after dragging broader indexes lower at the start of the week. Dow Jones Industrial Average futures fell 0.5%. Read our full market wrap here.
What’s Coming Up
- Earnings are due from
after the close.
- Fed governor
will be speaking at 12:00 p.m. ET about the U.S. economic outlook and monetary policy at the Society for Advancing Business Writing and Editing Conference.
Market Movers to Watch
tumbled over 12% in premarket trading after it delayed plans to seek regulatory clearances for its Covid-19 vaccine while shortages in raw materials slow the ramp-up in production of doses.
declined 5.3% in premarket trading. The company halted plans to expand its Shanghai production base due to uncertainties caused by current U.S.-China tensions, according to a Reuters report.
- Internet companies slipped.
retreated 3.7% and
slid nearly 3%.
is down 4.8%, extending a 10-day losing streak. It reported a net loss for the first quarter.
jumped 5.6% after S&P Dow Jones Indices said the company will be added to the S&P MidCap 400 index, replacing
rose 2.9% premarket. The chocolate manufacturer is up 3.7% for the month so far.
plunged 8.2% after releasing guidance for the second quarter and the full year that came below analysts’ expectations.
is down 6%, adding to Monday’s decline.
- The Nasdaq Composite Index has fallen for seven of the past 10 trading sessions and has lost over 4% this month so far. Futures are suggesting another day of losses for tech stocks.
- Venture-capital funding to Israeli cyber firms hit $1 billion last year, according to business-analytics firm Crunchbase, about 13% of global investment in security startups. The sum is second only to U.S. security startups, which drew $5.9 billion in 2020.
- The MSCI All Country World Value Index is beating its growth-stocks equivalent by 11.3 percentage points over the past 12 weeks. That’s its biggest advantage since mid-2009, when the equity market was climbing off the floor following the global financial crisis.
Chart of the Day
Junk bond issuance is surging in Europe. Risky companies are getting ultralow borrowing costs and increasingly loose borrowing terms, such as “pick-your-poison” clauses. Read more here.
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