Good Monday morning traders and investors of the r/stocks sub! Welcome to the new trading week and a fresh start! Here are your pre-market stock movers & news on this Monday, April 10th, 2023-
S&P 500 futures decline to start the week as investors’ recession fears grow: Live updates
S&P 500 futures declined on Monday, as investors looked ahead to key inflation data and the start of first-quarter earnings season.
Futures tied to the broad market S&P 500 fell 0.18%, and Dow Jones Industrial Average futures was little changed. Nasdaq 100 futures shed 0.49%.
On Thursday, the major averages rose to end a holiday-shortened trading week. However, only the Dow notched a weekly gain of 0.6% while the S&P 500 and Nasdaq Composite posted weekly losses, ending lower by 0.1% and 1.1%, respectively.
The market was volatile as economic data showed signs of a weakening labor market. The March jobs report on Friday showed a resilient economy and moderate inflation, however, which pushed stock futures and Treasury yields higher. The New York Stock Exchange was closed for Good Friday.
Nonfarm payrolls grew by 236,000 for the month, about in line with the Dow Jones estimate of 238,000, the Labor Department reported. The unemployment fell to 3.5%, against expectations that it would hold from the previous month at 3.6%.
Investors are in for a busy week of economic data, including the latest consumer price index and producer price index data – due out Wednesday and Thursday, respectively – which will be key in determining if or when the Fed will pause or put an end to its rate hiking campaign.
“Our guess is the equity market needs economic Goldilocks, a bit of slowing to continue to cool inflation expectations, but not too much to spark ‘hard landing’ fears,” Raymond James’ Tavis C. McCourt wrote in a Sunday note.
They’ll also get the first batch of companies reporting first-quarter financial results. Tilray Brands kicks things off Monday. The major banks – JPMorgan Chase, Wells Fargo and Citigroup – will report on Friday.
STOCK FUTURES CURRENTLY:
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LAST WEEK'S MARKET MAP:
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TODAY'S MARKET MAP:
(CLICK HERE FOR TODAY'S MARKET MAP!)
LAST WEEK'S S&P SECTORS:
(CLICK HERE FOR LAST WEEK'S S&P SECTORS CHART!)
TODAY'S S&P SECTORS:
(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)
TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)
THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(N/A.)
([CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!]())
EARNINGS RELEASES BEFORE THE OPEN TODAY:
(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)
EARNINGS RELEASES AFTER THE CLOSE TODAY:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!)
FRIDAY'S ANALYST UPGRADES/DOWNGRADES:
(CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
FRIDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR!)
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Micron Technology – Shares jumped more than 6% following news that Samsung Electronics plans to cut memory chip production near term. Many Wall Street analysts said the move could accelerate a recovery within the memory chip industry.
STOCK SYMBOL: MU
(CLICK HERE FOR LIVE STOCK QUOTE!)
Pioneer Natural Resources – The stock popped 7% before the bell after the Wall Street Journal reported that Exxon Mobil has held informal talks to acquire Pioneer. Exxon shares fell 0.6%.
STOCK SYMBOL: PXD
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Tesla – The electric vehicle stock fell nearly 2% before the bell. Tesla said it plans to build a “megapack” battery factory in Shanghai and cut vehicle prices again.
STOCK SYMBOL: TSLA
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First Republic – Shares fell more than 3% after the regional bank suspended dividend payments on preferred stock.
STOCK SYMBOL: FRC
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Taiwan Semiconductor Manufacturing – U.S.-listed shares of the Taiwan-based semiconductor stock fell nearly 1% before the bell after the company reported a monthly drop in revenue.
STOCK SYMBOL: TSM
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Capital One Financial — Shares of the financial company fell more than 4% in premarket trading after Capital One said in a filing that Walmart is moving to end its credit card partnership. Capital One said in a filing that Walmart is suing to end the agreement, while Capital One maintains that the retail giant does not have a right to end the agreement early.
STOCK SYMBOL: COF
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Block – The Square and Cash App parent lost nearly 2% in the premarket following a downgrade to market perform from outperform by KBW. The firm said the company is feeling pressure from a growing list of small risks.
STOCK SYMBOL: SQ
(CLICK HERE FOR LIVE STOCK QUOTE!)
FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
I hope you all have an excellent trading day ahead today on this Monday, April 10th, 2023! :)
[link] [comments] https://www.reddit.com/r/stocks/comments/12hhjun/410_mondays_premarket_stock_movers_news/
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