US STOCKS-Futures muted ahead of inflation data, GE surges

- Advertisement -

(For a Businesshala Live blog on the US, UK and European stock markets, click live/ or type live/ in a news window.)

- Advertisement -

* Futures: Dow off 0.07%, S&P flat, Nasdaq up 0.21%

- Advertisement -

Nov 9 (Businesshala) – US stock index futures traded flat on Tuesday in the first part of some readings on inflation this week, while General Electric hammered its plan to split into three public companies.

Data from the Labor Department due at 8:30 a.m. ET shows its producer price index expected to rise 0.6% for final demand in October, accelerating inflation and tighter monetary policy for investors compared to the COVID-19 pandemic. has become a major concern.

- Advertisement -

The S&P 500 and Nasdaq closed at all-time highs for the eighth consecutive session on Monday, while the Dow closed its second consecutive record high.

Better-than-expected earnings season, positive developments around COVID-19 antiviral pills and easing of travel restrictions have helped the market continue its record high recently.

General Electric Co jumped 11.6% in premarket trading after the American conglomerate said it would split itself into three companies focused on aviation, healthcare and electricity.

Shares of Tesla Inc rose 1.4%, down nearly 5% on Monday after Chief Executive Elon Musk’s Twitter poll, an offer to sell a tenth of his stake, received 57.9% of the vote in favor of the sale.

The resolution also raised questions about whether Musk has again violated his agreement with the US securities regulator.

At 6:50 a.m., the Dow E-Minis were down 25 points, or 0.07%, the S&P 500 E-Minis were up 1.5 points, or 0.03%, and the Nasdaq 100 E-Minis were up 34.5 points, or 0.21%.

Robinhood Markets Inc. slipped 3.1% after the online retail brokerage said a third party had gained access to the email addresses of nearly five million of its customers in the event of a security breach.

Zynga Inc. jumped 6.6% after the “FarmVille” maker beat quarterly net booking estimates, while TripAdvisor Inc. posted a 7.4% drop after announcing quarterly earnings declines and the departure of chief executive Stephen Koffer.

Reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Aditya Soni


- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox