Here’s what we’re looking forward to before Wednesday’s opening bell.
–US futures fell, while investors waited for a day full of major earnings reports and a Federal Reserve meeting.
S&P 500 futures fell 1%, while Nasdaq-100 technology futures fell 0.8%. Dow Jones Industrial Futures was down 1%.
What’s next
–Expected revenue updates: Tesla,
TSLA 0.26%
Apple AAPL 0.17%
and Facebook FB 1.45%
are due after closing. The electric car manufacturer is expected to record its first profit of the year.
Federal Reserve publishes a policy statement at 2 p.m. President Jerome Powell holds a press conference at 2:30 p.m.
Market Movers to watch
–And then there’s GameStop. Its shares appeared again before the bell, rising by 55% in highly volatile transactions. CNBC reported that Melvin Capital, a hedge fund that has suffered heavy losses so far this year, in part because of a bet against the video game retailer’s stock, closed short on Tuesday afternoon. The report caused a stir on the online platform Reddit – popular with day traders who fight short-term hedge fund sellers – where some members wrote that it was an attempt to shoot GameStop GME 92.71%
stock price back. And Elon Musk weighed in again last night with a tweet, “Gamestonk !!“
–The show must go on: Another very short-circuited stock, the cinema operator AMC Entertainment Holdings, saw its shares increase by over 220% with a larger premarket.
“Headset maker Koss KOSS.” 66.67%
he also joined the party and his shares increased by 97% premarket.
– Bed bath and beyond BBBY 20.18%
resumed its upward trajectory, 11% before the bell. Online traders indicate a change in management in early 2020 and the fact that the company buys shares as signs that the share price will continue to rise.
– Microsoft MSFT 1.22%
shares rose 1.9% premarket. The software giant’s profit and sales have risen, driven by pandemic-fueled videogaming demand and the rapid adoption of its cloud computing services.
– Boeing BA -0.64%
shares fell 3.4% in the premarket after the aircraft manufacturer reported the largest annual loss of all time and had a huge financial impact on its new 777X aircraft, reflecting the worsening pandemic.
– Abbott Laboratories ABT 0.01%
equities added the premarket by 1.1% after a strong increase in profit in the last quarter, as increased demand for its Covid-19 diagnostic services contributed to revenue growth.
– Starbucks SBUX 1.20%
the premarket fell 2.9% after the coffee chain reported that sales fell during the holiday quarter, but showed signs of recovery, especially in China. Its chief operating officer, Roz Brewer, is leaving to become CEO of the Walgreens WBA 2.86%
Boots Alliance, where she will be the only woman of color to run a Fortune 500 company. Walgreens shares have risen 5%.
A Walgreens store in Tomball, Texas, January 16, 2021.
Photo:
Jeff Lautenberger for The Wall Street Journal
– AT&T T 2.20%
shares fell 0.4% in the premarket after reporting a loss in the fourth quarter as it recorded a $ 15.5 billion fee for its pay-TV business.
—Chip maker Texas Instruments TXN -0.84%
Shares fell 2.6% in the premarket, even though quarterly results and outlook exceeded Wall Street estimates after Tuesday’s close.
Market fact
Retail order flows reached 20% of the total US stock market, according to UBS research, twice as much as in 2010.
Diagram of the day
GameStop shares have become a favorite of online retailers looking to make money from call options.
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