Here’s what we’re watching as markets kick into gear on Tuesday.
- U.S. stock futures drifted higher ahead of earnings from more blue-chip companies and the start of the Federal Reserve’s two-day policy meeting.
- Futures for the S&P 500 ticked up 0.1%, after the benchmark index ground higher to a record on Monday. Contracts for the Dow Jones Industrial Average and technology-heavy Nasdaq-100 also edged up 0.1%. Read our full markets wrap here.
What’s Coming Up
is scheduled to report earnings ahead of the opening bell.
- Earnings are also due from
and snack-food giant
after markets close.
- A gauge of U.S. consumer confidence will be out at 10 a.m. ET.
Market Movers to Watch
slipped 2.5% in premarket trading. The electric carmaker reported a jump in revenue and net profit in the first quarter on Monday after hours, although both came below analysts’ estimates.
rose nearly 7% after posting first-quarter revenue and profit well above Wall Street’s expectations.
- The most popular meme stock,
is rising for the second day. It’s up over 8% premarket after adding 11.7% on Monday. The video game retailer said it raised around $551 million in a share offer.
rose 13%, looking to extend its recent meteoric rise into a fifth straight trading session. The laser-scanning technology developer is up over 47% this week so far amid active discussions on Reddit forums.
fell 3.5% after the software company revised its full-year guidance, which brought its earnings-per-share forecast below analysts’ estimates.
developer of the SnapChat social-media app, declined 2.8%. It said it will issue $1 billion of senior convertible notes in a private placement.
climbed 3.1% after reporting a jump in earnings per share.
slipped 2%. Filings showed that the company’s CEO recently sold 3,000 shares.
- The S&P 500 hit yet another record high on Monday, its 24th this year. It has risen 11.5% since the beginning of the year.
- The Nasdaq also notched another record yesterday, for the 13th time in 2021.
Chart of the Day
Demand for inflation-protected bonds remains high despite a recent decline in Treasury yields, indicating that investors have long-term concerns about the impact of economic growth on interest rates. Read more here.
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