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Stocks are down after new data showing supplier prices rose more than expected last month, adding to concerns that the Federal Reserve will need to hold interest rates higher for longer.
Jobless claims also remained historically low last week. It’s the latest data dampening hopes for a Fed pivot on interest rates.
Tweet on Trending stocks
Marketwatch:
Cisco Systems: Shares rose 3.1% premarket.Roku: Shares were up 12% premarket.
Shopify: the stock was down more than 9% premarket
Apple: Shares declined slightly premarket.
*DraftKings is expected to report earnings later Thursday.#Trending #stocks pic.twitter.com/3KlehW5sfY
— The_Journalbiz (@the_journalbiz) February 16, 2023
Factset on trending stocks today
Trending stocks today are:
Cisco Systems: The networking-equipment company raised its outlook for the year after posting better-than-expected results. Shares rose 3.1% premarket.
Roku: The nation’s largest maker of streaming hardware said it saw some signs of improvement in the advertising market, where it gets most of its revenue. Shares were up 12% premarket.
Shopify: The e-commerce company reported a better holiday quarter than expected, but the stock was down more than 9% premarket amid concerns over future revenue growth.
Apple: The Justice Department has ramped up work in recent months on drafting a potential antitrust complaint against the company. Shares declined slightly premarket.
*DraftKings is among the companies expected to report earnings later Thursday.
