Stock Futures – Tesla, American Outdoor Brands, Coherent: What to Watch When the Stock Market Opens Today
Here’s what we’re watching ahead of Thursday’s opening bell.
—U.S. stock futures edged down a day after the Federal Reserve’s outlook and policy statement lifted both the Dow and the S&P 500 to records. Futures tied to the S&P 500 lost 0.4% while Dow futures inched up 0.1%. Contracts for the Nasdaq-100 index fell 1.2%. Read our full market wrap here.
What’s Coming Up
—Earnings are due from
before the open.
will report after the close.
—Jobless claims are due at 8:30 a.m. ET. Economists surveyed by The Wall Street Journal expect filings fell to 700,000 last week, adding to the evidence the economy is ramping up.
—On the conference circuit, Citigroup’s Communication Services Conference takes places virtually in London.
Market Movers to Watch
shares fell 2.4% in premarket trading. U.S. safety regulators are investigating a crash involving a Tesla vehicle that hit a patrol car in Michigan, the latest in a series of accidents that have heightened regulatory scrutiny of the electric-vehicle maker.
American Outdoor Brands
jumped 8.9%. The outdoor-accessories company swung to a profit in the third quarter of fiscal 2021.
shares popped 5.1%.
submitted a new takeover offer for the laser maker—the object of a frenzied bidding war—valued at roughly $7 billion. Read the full story here.
—Technology stocks took another leg lower. Shares of
Amazon and Google-parent
are down between 0.8% and 1.2%.
one of Texas’ largest power generators and one of many companies grappling with the financial fallout from last month’s deep freeze, gained 3% ahead of the bell. The stock dropped 4.6% on Wednesday after being downgraded by analysts at Guggenheim and Wolfe Research.
The dollar has risen nearly 2.5% against the currencies of the U.S.’s major trading partners since early January. Some had predicted declines of up to 20% in 2021. The reason for the surprise advance: The U.S.’s economic prospects look brighter than those of many other countries.
Chart of the Day
Uber’s shares hit record highs last month, as investors saw nothing but open road ahead with the pandemic easing and the world opening back up. Now a court ruling could make for an unforeseen roadblock.
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