Here’s what we’re watching as markets kick into gear on Tuesday.
—U.S. stock futures rallied as a recent selloff in government bonds paused and giant technology stocks recovered some ground.
Futures tied to the S&P 500 gained 0.9%, suggesting that the broad market benchmark may climb after the New York opening bell. Nasdaq-100% futures jumped 2% and Dow Jones Industrial Average futures edged 0.3% higher. The blue-chips index notched a new intraday record on Monday. Read our full market wrap here.
What’s Coming Up
—Earnings are due from
after the close.
—China’s consumer price index for February will be out at 8:30 p.m. It’s expected to fall 0.4% from a year earlier, and the country’s producer price index is expected to increase 1.4% from a year earlier.
Market Movers to Watch
—Tesla shares rose 5.7% in premarket trading, potentially retracing some of Monday’s loss. The stock has fallen for the past five consecutive trading sessions.
—Home-sales website
is up 3.1%, also reversing direction after five days of losses.
—Tech companies benefiting from people staying at home rose. E-pinboard company
added 4.7% and connected workout bike firm
climbed 4.2%.
Peloton Interactive stationary bikes for sale at the company’s showroom in Dedham, Mass., Feb. 3, 2021.
Photo:
Adam Glanzman/Bloomberg News
—
shares plunged 23% premarket. The clothing retailer reported fiscal second-quarter sales that missed Wall Street expectations after Monday’s close.
—Payments companies are up ahead of the opening bell.
rose close to 4% and
climbed 4.4%.
—
added 5.3%. The solar inverter company lost over 18% of its value last week.
—Bank stocks are edging down.
declined 1.4%,
lost 1.3%,
is down 1.2%,
slipped 1.1% and
declined 1.1%.
—
fell 8% after saying in its quarterly earnings report that it expects sales growth to slow or potentially decline in the new fiscal year.
Market Fact
The Nasdaq Composite has moved at least 1.5% in either direction for six consecutive trading days. It is its longest stretch since the 15 consecutive trading days from March 2, 2020 to March 20, 2020.
Chart of the Day
Retail energy companies compete with local utilities to give consumers more choice. But in nearly every state where they operate, retailers have charged more than regulated incumbents, a Wall Street Journal analysis found.
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Read More:Tesla, Zillow, Peloton: What to Watch When the Stock Market Opens Today
2021-03-09 12:15:00
