Lordstown Motors, Nvidia, Bitcoin: What to View When the Stock Market Opens Today
Here’s what we’re viewing as Tuesday’s trading gets underway.
- U.S.stock futures rose, putting indexes on course for additional gains as financiers awaited fresh data on the health of the real estate market.
- Futures connected to the broad S&P 500 index rose 0.3%, while blue-chip Dow Jones Industrial Average futures acquired 0.2%. Nasdaq-100 futures increased 0.5%, putting innovation stocks on course to increase after the opening bell, a day after they led broader markets greater. Read our complete markets cover here.
What’s Coming Up
- U.S. new-home sales, due at 10 a.m., are anticipated to be up to a yearly speed of 959,000 in April from 1.021 million a month previously.
- A gauge of consumer self-confidence in the U.S. in May is also due at 10 a.m.
- Revenues are due from Nordstrom, Urban Outfitters, Intuit and home contractor Toll Brothers after the close.
Market Movers to View
- Lordstown Motors plunged over 14% premarket. The electric-truck startup said it’s dealing with higher-than-expected costs and has to cut its 2021 production forecast by a minimum of 50%. It’s also seeking to raise more capital.
- < div data-mobile-ratio=" 66.640625%" data-layout-ratio= "66.640625%" data-subtype=" image" class =" image-container responsive-media short article __ inset __ image __ image" > The Lordstown Motors Corp. in Warren, Ohio on June 25, 2020.
- < period class=" wsj-article-credit post __ inset __ image __ caption __ credit" itemprop=" creator "> Image: DAVID MAXWELL/EPA/Shutterstock America’s Car-Mart is up 5.6%. The used-car merchant reported earnings after Monday’s close and stated it had record profits last quarter. Moderna increased 2.4% after reporting that its Covid-19 vaccine worked in a study for 12-to 17-year-olds. It plans to request permission from the Food and Drug Administration and other regulators.
- Airline stocks climbed. United Airlines added 3.2% after it said yields created from ticket sales in the second quarter are better than anticipated, increased by domestic travel. Delta Air Lines likewise increased 2.6%.
- Bitcoin slipped 5% to trade around $37,000, compared to its level at 5 p.m. ET, drawing back after rallying near $40,000 on Monday evening. Elon Musk tweeted: “Consult with North American Bitcoin miners. They devoted to release existing & & organized renewable use & & to ask miners WW to do so. Possibly promising.”
- Shares of Argo Blockchain, a British cryptocurrency miner, are up over 10% in London. It said it joined the newly-formed Bitcoin Mining Council to promote energy usage transparency and more sustainable mining practices after speaking to Mr. Musk.
- Dogecoin decreased almost 7% to 33 cents. Mr. Musk also tweeted a Reddit link requesting designers to submit concepts to assist develop out the cryptocurrency. Another account on Twitter asked him why he’s picking to support dogecoin over other cryptocurrencies. Mr. Musk replied “Doge has dogs & & memes, whereas the others do not.”
- Industrial-machinery firm Nordson rose 4.7% after it improved monetary forecasts for the year following a strong second quarter.
- Nvidia is up 1.2% in premarket trading, appearing like the stock may extend its four-day rally into a 5th day. The chip maker is anticipated to report revenues on Wednesday.
- Amazon is nearing a deal to purchase the Hollywood studio MGM Holdings for nearly $9 billion consisting of debt, The Wall Street Journal reported. Its stock is up 0.7% in premarket trading.
- Ethereum soared as much as 28.7% on Monday, notching the most significant intraday jump since Feb. 6, 2018.
- The Nasdaq Composite had its least expensive trading volume of the year up until now on Monday, when 3.4 billion shares altered hands.
Chart of the Day
- A market reversal has actually been especially terrible on China’s next generation of innovation stars. Because peaking earlier this year, formerly hot stocks like Meituan, Kuaishou and Pinduoduo have lost almost half their value, much more than larger peers like Alibaba or Western heavyweights like Amazon. Find out more here.
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Released at Tue, 25 May 2021 13:05:00 +0000
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