Tesla, GameStop, UPS: What to Watch When the Stock Market Opens | Sidnaz Blog

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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
Market Movers to Watch

A United Parcel Service driver leaves with his truck from a UPS facility that is delivering vaccines to Washington, D.C. and Maryland areas on March 15, 2021 in Landover, Maryland.



Photo:

Alex Wong/Getty Images

  • The most popular meme stock,

    GameStop,


    GME 11.74%

    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.

  • MicroVision


    MVIS 47.13%

    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.

  • Cadence Design Systems


    CDNS 1.51%

    fell 3.5% after the software company revised its full-year guidance, which brought its earnings-per-share forecast below analysts’ estimates.

  • Snap,


    SNAP -2.09%

    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.

  • SS&C Technologies


    SSNC -0.66%

    climbed 3.1% after reporting a jump in earnings per share.

  • Lululemon Athletica


    LULU -0.93%

    slipped 2%. Filings showed that the company’s CEO recently sold 3,000 shares.

Market Facts
  • 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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