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Stock futures fell ahead of data on service-sector activity and factory output!
U.S. stock futures retreated. S&P 500 futures fell 0.3%. The benchmark index rose 1.2% last week. Futures for the Dow industrials also fell 0.3%, while Nasdaq-100 futures edged 0.15% lower
Tweet from the market watch
MARKET-WATCH:
Tesla: -4% ahead of the bell, while NIO & Xpeng advanced 6.9% & 12.4%, respectively
Delta Air Lines: stock rises 3%
Apple: plans to shift some of its production outside China
Credit Suisse: shares jumped 2.4% premarket
Activision Blizzard:stock rose 2.8% premarket pic.twitter.com/8873AeP12H— The_Journalbiz (@the_journalbiz) December 5, 2022
FactSet chart on current market fluctuation
Tesla: The electric-vehicle maker plans to lower production at its Shanghai factory, in the latest sign demand in China isn’t meeting expectations, Bloomberg reported. Tesla stock dropped about 4% ahead of the opening bell, while shares in Chinese rivals NIO and Xpeng advanced 6.9% and 12.4%, respectively.
Delta Air Lines: The carrier is offering pilots raises amounting to at least 34% over the term of a proposed deal, another sign of how pilots are pushing the now-booming airline industry for better pay and other benefits.
Apple: The iPhone maker has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company.
Credit Suisse: New York-traded shares of the Swiss bank jumped 2.4% premarket. Saudi Arabia’s crown prince and a U.S. private-equity firm run by Barclays’s former chief executive are among investors preparing to invest $1 billion or more into Credit Suisse’s new investment bank.
Activision Blizzard: The videogame company’s stock rose about 2.8% premarket. The New York Post reported that a rift at the Federal Trade Commission potentially paved the way for Microsoft’s takeover of Activision to get approved.
Baidu, JD.com and Pinduoduo: American depositary receipts in the three Chinese tech companies added more than 4% premarket. The easing of some Covid-19 policies in China had fueled a rally in Hong Kong and mainland Chinese stocks on Monday.
