Snowflake Stock – Zscaler, Urban Outfitters, GameStop, Nordstrom: What to Watch When the Stock Market Opens Today
Here’s what we’re watching ahead of Wednesday’s opening bell.
- U.S. stock futures rose as investors grew more comfortable that the Federal Reserve and other central banks would maintain their economic support despite a near-term bout of inflation.
- Futures tied to the S&P 500 added 0.3%, indicating that the broad market index could post gains after declining Tuesday. Nasdaq-100 futures also rose 0.3%, suggesting advancement for technology stocks after the New York opening bell. Read our full market wrap here.
- Dow futures were up 0.2%. Wednesday is the 125th anniversary of the launch of the Dow Jones Industrial Average.
What’s Coming Up
Market Movers to Watch
jumped 9.1% premarket. The retailer reported a profit for its latest quarter as the shopping landscape continued to normalize.
shares jumped 11% premarket. The cloud-based security platform said revenue grew and its profit, after adjustments, climbed during its latest quarter.
- Meme stocks
were both ticking higher before the bell, by 3.9% and 4.6%.
shares dropped 5% premarket. The department-store company narrowed its first quarter loss, with better-than-expected sales in the first quarter.
shares gained 1.1% premarket. The luxury homebuilder’s sales rose in the fiscal second quarter, lifting its bottom line, as low mortgage rates and low housing supply continued to boost home-buying trends.
shares edged up 0.5% ahead of the bell. The TurboTax, QuickBooks and Mint parent raised its full-year financial projections, as the company sees strong demand for its products and services.
shares ticked up 0.6% premarket. The video-software company closed its first trading day as a standalone company Tuesday with shares down 13% from where they ended at the close of a roughly weeklong “when-issued” trading period.
- The cost of softwood lumber, which is often used for framing, is now at a record, up over 83% from this time last year, according to CoStar Advisory Services. Overall, lumber and wood prices are also at record levels, up 34% from one year ago, CoStar said.
- China’s yuan has strengthened to a near-three-year high, boosted by a falling dollar despite attempts by the central bank to keep the currency in check. On Tuesday, the offshore yuan strengthened below 6.4 per dollar.
- On this day in 1667, mathematician Abraham de Moivre was born in Vitry, France. In 1688, he fled to England to escape King Louis XIV’s persecution of the Huguenots. In London, de Moivre discovered the normal statistical distribution (the “bell curve”) and worked out the formula for standard deviation, or short-term volatility.
Chart of the Day
- As the pandemic wanes, timeshare stocks are the vacation from speculation investors need, writes Heard on the Street columnist Laura Forman.
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