| What to watch today: Stocks set to continue Tuesday's rally at the open, bond yields dip |
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WED, FEB 09, 2022
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AS OF WED, FEB 09, 2022 • 08:49 ET
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Dow Jones Fut |
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35,462.78 |
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Current: |
35,589.00 |
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Change: |
247.00 |
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Impl. Open: |
252.22 |
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S&P 500 Fut |
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4,521.54 |
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Current: |
4,554.75 |
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Change: |
42.25 |
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Impl. Open: |
41.41 |
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NASDAQ 100 Fut |
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14,747.03 |
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Current: |
14,921.50 |
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Change: |
187.00 |
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Impl. Open: |
187.47 |
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Russell 2000 Mini |
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2,045.37 |
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Current: |
2,060.40 |
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Change: |
19.60 |
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Impl. Open: |
19.23 |
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Dow futures rose nearly 250 points, or nearly 0.7%, on Wednesday. S&P 500 and Nasdaq futures pointed to even stronger gains at the open, one day after all three stock benchmarks mounted a solid rally. The Nasdaq's second positive session in the past three was helping the index move closer to getting out of correction territory. (CNBC)
Earnings are once again the story on Wall Street, with Dow stock Disney scheduled to come out with quarterly results after the bell Wednesday.
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House Speaker Nancy Pelosi, D-Calif., is moving to ban stock trading on Capitol Hill, after having consistently opposed such a measure, Punchbowl News reports, as cited by Axios. This adds unprecedented momentum to an issue that also has bipartisan support on the Senate side.
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CVS Health (CVS) shares fell 2.7% in the premarket after the pharmacy chain said Wednesday that demand for Covid vaccines and at-home Covid tests lifted overall store sales, helping the company top expectations for fourth-quarter earnings and revenue. CVS is overhauling its stores to have a health-care focus. (CNBC)
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Yum Brands (YUM) shares rose nearly 1.5% in the premarket after the Taco Bell, KFC and Pizza Hut owner said Wednesday higher costs weighed on profits, leading to a quarterly earnings miss. Revenue slightly beat estimates. All the company's restaurant chains saw shrinking margins. However, all three chains reported higher same-store sales for the quarter, with Taco Bell leading the way with an 8% rise. (CNBC)
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Chipotle Mexican Grill (CMG) shares soared 7.5% in Wednesday's premarket, the morning after the company reported quarterly earnings that beat estimates and revenue that matched expectations. Chipotle said its customers stuck with the restaurant chain despite menu price increases to deal with high food and labor costs. The company also said it's likely prices will go up again later this year. (CNBC)
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Lyft (LYFT) shares trimmed earlier losses in the premarket after the ride-hailing service reported Tuesday evening ridership below analysts' estimates. Lyft said higher fares and longer trips helped quarterly earnings slightly beat estimates. Revenue also exceeded expectations. Rival Uber is set to issue its results after the bell Wednesday. (CNBC)
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New York's governor and health officials are deciding whether to end or extend two Covid mask mandates, one in schools, the other in most other public indoor settings, like grocery stores, shops and offices. Gov. Kathy Hochul, a Democrat, plans to make an announcement Wednesday. Dropping the mask orders would put New York in line with many so-called blue states making similar moves. (AP)
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The Justice Department said it seized more than $3.6 billion in allegedly stolen cryptocurrency linked to the 2016 hack of Bitfinex. As part of the operation, authorities detained a New York couple on allegations they planned to launder the digital goods. Officials said they arrested Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31. (CNBC)
Morgan wrote an article in Forbes last summer with the headline: "Experts Share Tips To Protect Your Business From Cybercriminals." She's also an aspiring rapper and goes by the name Razzlekhan, calling herself the "infamous Crocodile of Wall Street." She can be seen on a video rapping in front of the New York Stock Exchange.
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Senate Minority Leader Mitch McConnell, R-Ky., on Tuesday admonished the Republican National Committee for voting to censure two GOP members, Reps. Liz Cheney and Adam Kinzinger, over their participation in the House probe of the Jan. 6 Capitol riot. "We all were here. We saw what happened," McConnell said. (CNBC)
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Xpeng (XPEV) leaped 6.8% in the premarket after the electric vehicle maker's Hong Kong shares were included in a trading link to mainland China. Inclusion in the Shenzhen-Hong Kong Stock Connect link allows Chinese investors easier access to those shares.
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Nikola (NKLA)denied a report that it instituted a hiring freeze and that the electric truck maker has lost nearly its entire supply chain leadership. Nikola said its supply chain department is "intact" and it continues to hire. The stock added 1.4% in premarket trading.
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Enphase Energy (ENPH) surged 20.3% in premarket action following a better-than-expected quarterly report from the maker of solar and battery systems. Enphase earned an adjusted 73 cents per share for the quarter, beating the 58-cent consensus estimate.
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XPO Logistics (XPO) jumped 3.4% in the premarket after its quarterly results exceeded analyst forecasts. The logistics company said strong North American trucking business was among the factors driving those results.
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Container Store (TCS) tumbled 26% in the premarket despite better-than-expected profit and sales for the company's most recent quarter. Overall sales were down 3% from a year ago and online sales tumbled by 36% compared with a year earlier.
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Reynolds Consumer Products (REYN) fell 1.8% in premarket trading after the consumer products company reported a mixed quarter: beating bottom-line estimates but reporting revenue that fell short of Wall Street forecasts. Reynolds also forecast weaker-than-expected revenue for the current quarter.
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NCR (NCR) soared 11.3% in premarket trading after the financial technology and services company said it would conduct a strategic review of its operations, adding that it believes there is substantial shareholder value yet to be unlocked.
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Canada-based cannabis producer Canopy Growth (CGC) rallied 6% in the premarket after reporting a narrower-than-anticipated loss as well as better-than-expected revenue for its latest quarter. Cannabis sales declined but were offset by growth in its drinks and vapes categories.
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