Here’s what we’re watching ahead of Tuesday’s opening bell.
- Stock futures slipped, a day after faltering tech stocks dragged major indexes lower.
- Futures on the S&P 500 and the Dow Jones Industrial Average fell 0.4% apiece. Tech-heavy Nasdaq-100 futures slipped 0.3%.
- 10-year Treasury yields are higher at 1.625%, from 1.599% on Monday. The dollar slipped again. Crude-oil prices are rising ahead of stockpile data from the American Petroleum Institute. Read our full market wrap here.
What’s Coming Up
Market Movers to Watch
shares jumped more than 20% before the bell. The Wall Street Journal reported that
is planning to make a roughly $30 billion topping bid for the railroad operator, likely kicking off a bidding war.
shares rose 2.9% in premarket trading. The tech firm posted higher revenue ahead of a landmark split of the business this year.
- Losing altitude:
fell 2% ahead of the bell. The Chicago-based airline reported a net loss of $1.36 billion for the first quarter.
gained almost 2% premarket. The advance came after Oatly Group filed paperwork for an initial public offering in the U.S., nine months after Blackstone and a handful high-profile celebrities took a stake in the oat milk producer.
shares fell 1.3% premarket. U.S. safety officials are investigating a fatal crash involving a Tesla vehicle, adding to a series of probes into incidents involving the electric-vehicle maker.
gained 2.4% after the maker of food, drink and aerosol packaging reported higher net sales in the first quarter than a year ago.
shares edged down 0.3% after the health company reported earnings.
- By the end of Friday, S&P 500 companies that had already reported quarterly earnings had beaten profit expectations by a combined 30%, according to FactSet, compared with a five-year average of 7%.
- Through Thursday, healthcare stocks have returned about 7% so far this year. That lags behind the S&P 500 by about 5 percentage points.
- On this day in 1720, declaring that he “can calculate the motions of the heavenly bodies, but not the madness of the people,” Isaac Newton sold his 7,000 pounds’ worth of South Sea Co. stock at a 100% profit. But the excitement around England’s first great IPO proved too much even for him, and he soon got back in. Newton ended up losing 20,000 pounds when the bubble burst, and from that moment on, he could “never bear to hear the South Sea referred to for the rest of his life.”
Chart of the Day
European carbon credits are as close as investors can come to a sure thing. Ironically, the chief thing that might trip them up is too much excitement too soon, writes Heard on the Street columnist Rochelle Toplensky.
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