| What to watch today: Wall Street looks to break major three-day losing streak |
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TUE, DEC 21, 2021
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AS OF TUE, DEC 21, 2021 • 08:31 ET
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Dow Jones Fut |
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34,932.16 |
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Current: |
35,095.00 |
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Change: |
282.00 |
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Impl. Open: |
280.84 |
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S&P 500 Fut |
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4,568.02 |
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Current: |
4,598.00 |
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Change: |
39.50 |
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Impl. Open: |
39.68 |
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NASDAQ 100 Fut |
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15,627.64 |
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Current: |
15,786.75 |
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Change: |
165.50 |
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Impl. Open: |
166.11 |
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Russell 2000 Mini |
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2,139.87 |
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Current: |
2,160.80 |
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Change: |
24.90 |
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Impl. Open: |
26.63 |
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Dow futures rebounded Tuesday, one day after a big slide on Wall Street capped three straight down sessions on concern about a surge in Covid cases due to the omicron variant. Stocks that benefit from the economy staying open saw some relief-buying. Adding to premarket strength, Dow stock Nike jumped 3.6%, the morning following better-than-expected quarterly earnings and revenue. (CNBC)
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So far in December, the Dow Jones Industrial Average is up 1.3%; the S&P 500 is flat; and the Nasdaq is down nearly 3.6%. The U.S. stock market is closed on Friday for Christmas Eve. Heading into the new year, investors will also assess the prospect for President Joe Biden's economic agenda. (CNBC)
* Cramer expects omicron-related stock slump to be short-lived (CNBC)
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Moderna (MRNA) CEO Stephane Bancel told a Swiss newspaper that work on an omicron-specific booster could begin within a few weeks, adding that only minor adjustments to the original formula would be needed. Earlier this week, Moderna said a booster of its current vaccine dramatically increases protection against omicron.
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Nikola has agreed to pay $125 million to settle SEC charges of defrauding investors by misleading them about its products, technical capacity and business prospects. Shares of the electric truck maker rose 3% in the premarket after falling 7% on Monday. SEC officials said they hope the penalty would serve as a warning to all companies hoping to go public via SPACs. (CNBC)
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Micron Technology (MU) beat estimates by 5 cents a share, with quarterly profit of $2.16 per share. The chip maker's revenue also came in above consensus. Micron gave an upbeat forecast, amid continued strong demand for its chips. Shares leaped about 8% in the premarket.
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Braze (BRZE) reported a lower-than-expected loss and better-than-expected revenue in the cloud computing company's first report since going public in mid-November. The stock surged 11.9% in the premarket.
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Citrix Systems (CTXS) nearly surged 8% in premarket trading following a Bloomberg report that Elliott Investment Management and Vista Equity Partners are considering a joint bid for the software maker.
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General Mills (GIS) missed earnings estimates by 6 cents a share, with quarterly profit of 99 cents per share. The food producer's revenue was above Wall Street forecasts. The company raised its full-year sales forecast, as at-home dining demand remains elevated, but said it is still dealing with higher input costs and supply chain disruptions. Shares fell roughly 2% in the premarket.
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Rite Aid (RAD) earned a profit of 15 cents per share, compared to expectations of a 32 cents per share quarterly loss. Rite Aid also announced a store closure program, initially targeting 63 stores with an expected annual savings of about $25 million. The stock rallied 4% in premarket trading.
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Financial information provider FactSet (FDS) earned $3.25 per share for its latest quarter, 25 cents a share above estimates. Revenue came in above consensus as well, boosted by higher sales of analytics and research solutions.
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