Here’s what we’re watching ahead of Wednesday’s opening bell.
- U.S. stock futures slipped as the global Covid-19 infection rate and potential for new variants led to concerns about the pace of world economic recovery.
- Futures tied to the S&P 500 fell 0.2%, and contracts on the Dow Jones Industrial Average edged down 0.1%. Technology-heavy Nasdaq-100 futures slid 0.3%. Read our full market wrap.
What’s Coming Up
Market Movers to Watch
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shares were down 8% premarket. Subscriber growth for the first quarter was weaker than expected, a potential warning sign for the company as consumers start to emerge from lockdowns and streaming competition increases.
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shares were up 1% premarket. The oil-services company moved to a first-quarter profit despite lower revenue year over year as business activity picked up compared with the last three months of 2020.
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shares ticked up 1.6% premarket. Analysts at Raymond James and Morgan Stanley raised their price targets on the stock.
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added 3% premarket. The company reported earnings after-hours Tuesday and updated its outlook.
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shares dropped 3.5% premarket. The stock closed at $8.59 a share on Tuesday, after
set a price target of $9 a share.
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shares edged down 0.2% ahead of the bell. The railroad operator’s top line fell in the first quarter and its net earnings declined from a year ago.
A CSX Transportation freight train travels through Covington, Ky., Jan. 13, 2020.
Photo:
Luke Sharrett/Bloomberg News
Market Facts
- The S&P 500 Real Estate Sector on Tuesday closed at a record for the first time since Feb. 14, 2020. The S&P 500 Energy Sector meanwhile closed in correction territory.
- Dogecoin, the digital currency created as a joke, pared gains after climbing more than 8,000% this year. By Tuesday, it fell to 31 cents, according to CoinDesk, despite some online users’ efforts to push it to $1 to recognize what some have called “Doge Day.”
- On this day in 1982, futures contracts on the S&P 500 index became available for the first time, as they opened for trading in the pits of the Chicago Mercantile Exchange.
Chart of the Day
added a paid subscription to its podcast app, along with other new products including an updated high-end iPad. Heard on the Street’s Dan Gallagher writes that the new iPad and iMac might seem a bit late to the game, but there is good reason to think they will still find their mark.
Must Reads Since You Went to Bed
Corrections & Amplifications: Chipotle, Whirlpool and Equifax quarterly earnings are due out after Wednesday’s close. An earlier version of this article incorrectly said they would be out before the open. Verizon and Nasdaq reported before the open, whereas an earlier version said they would report after the close.
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