GameStop, Koss, Bed Bath & Beyond, AMC: What to Watch When the Stock Market Opens Today

Futures tied to the S&P 500 declined 0.6%, suggesting a reversal in direction after a nearly 1% rise Thursday. Those linked to the Nasdaq-100 retreated 0.9%. Read our full market wrap.

What’s Coming Up

—Earnings reports are expected from

Chevron

CVX 0.93%

and

Honeywell.

HON 1.74%

—Consumer spending for December, due at 8:30 a.m. ET, is expected to drop 0.4% from the month before. The University of Michigan’s consumer sentiment index for January, due at 10 a.m., is expected to hold steady at 79.2, unchanged from a preliminary reading.

—U.S. pending-home sales for December, due at 10 a.m., are expected to fall 0.2% from a month earlier.

Market Movers to Watch

—Reddit rally ructions: The now-familiar troupe of stocks whose high-flying shares took a hit on Thursday are back on the rise.

GameStop,

GME -44.29%

Bed Bath & Beyond,

BBBY -36.40%

BlackBerry,

BB -41.63%

AMC Entertainment

AMC -56.63%

and

Koss

KOSS -27.66%

are all rocketing higher ahead of the bell. In GameStop’s case, the percentage rise is triple digits.

—Unlike other soaring stocks this week, shares of

American Airlines

(AAL) 9.30%

didn’t have their wings clipped on Thursday, rising more than 9%. In premarket on Friday they were up another 11%.

—Shares of heavy-equipment maker

Caterpillar

CAT 2.05%

jumped 3.6% premarket after its quarterly earnings beat estimates.

—Computer-networking company

Juniper Networks

JNPR -5.36%

saw its shares fall 4.3% premarket after it reported flat sales in the recent quarter.

—Shares of

Dolby Laboratories

DLB 3.01%

climbed 2.9% premarket after the maker of audio and imaging products’ earnings report beat expectations.

—

General Motors ,

GM 3.45%

down 1.1% premarket, set a 2035 target date for phasing out gasoline- and diesel-powered vehicles from its showrooms globally.

—Credit-card companies

Visa

V 1.67%

and

Mastercard

MA 2.79%

both logged smaller declines in quarterly revenue than in recent periods, but the pandemic continued to spur weakness in cross-border spending. Visa’s shares added 0.4% premarket, Mastercard’s ticked lower by 1.3%.

Market Fact

Most-actively traded silver futures rose 4.4% to $27.14 a troy ounce Friday. Up 6% for the week, they are on track for their biggest one-week advance since mid-December.

Chart of the Day

American Airlines’ latest numbers were bad enough to justify bearish Wall Street bets against it. In today’s topsy-turvy market, this all but guarantees stock gains, writes Heard on the Street columnist Jon Sindreu.

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