U.S. stock index futures were higher Wednesday morning as investors saw the first potentially pivotal inflation report slated for release this week.
Market Snapshot
At 08:32 a.m. ET, Dow e-minis were up 203 points, or 0.59%, S&P 500 e-minis were up 33.25 points, or 0.74%, and Nasdaq 100 e-minis were up 145.75 points, or 0.96%.
Pre-Market Movers
NVIDIA Corp - It gained slightly in premarket trading on a report that said Arm was discussing bringing in Nvidia as an anchor investor while the chip designer moves ahead with plans for an initial public offering later this year.
Coty - Stocks rose nearly 4% in premarket trading as Kim Kardashian was in talks to buy back the minority stake of her beauty company, SKKN by Kim, which she had sold to the company.
Terex - Its board approved a 13% increase to its quarterly dividend to 17 cents a share. It’s the second time this year Terex has raised its dividend. Stocks rose over 1% in premarket trading
Walt Disney - It is exploring strategic options for its Star India streaming business. The talks, which are in the early stages, include a joint venture or a sale. It gained slightly in premarket trading
SOS Limited - It jumped over 5% in premarket trading and gained 70% in 3 days. US prosecutors and IRS agents are deploying undercover agents and closely examining records to build criminal and civil cases against wealthy individuals suspected of illegally taking advantage of tax breaks offered by Puerto Rico.
Roku Inc - It climbed 2% before the opening bell. A day earlier, the company announced a partnership with Shopify to allow purchases straight from Roku TV.
Beyond Meat, Inc. - It added 2% on Wednesday morning. The company said Tuesday that its steak product would expand to be now be sold at roughly 14,000 stores across the U.S., including Whole Foods and Wegmans. Beyond Meat shares popped 4% in the previous session.
SunPower - It soared nearly 6% in premarket trading after an upgrade from Raymond James, which said the stock’s recent weakness is “excessive.”
Market News
A federal judge in San Francisco has denied the Federal Trade Commission’s motion for a preliminary injunction to stop Microsoft from completing acquisition of video game publisher Activision Blizzard.
A key way that Amazon.com's cloud division aims to set itself apart from rivals perceived to have a leg up on artificial intelligence is by competing on price, an executive said on Tuesday.
Urs Holzle, one of Alphabet’s earliest and most senior employees will step back from an executive management role, in a shakeup of the company’s cloud unit.
Arm is in talks to bring in NVIDIA Corp as an anchor investor, while the SoftBank-owned company presses ahead with plans for a New York listing as soon as September, several people briefed on the talks said.
Texas again deferred a vote on grants of federal funds to build electric vehicle chargers to Aug. 16 amid pushback from some charging companies over its plan to include Tesla Motors's technology in charging stations.
IBM is considering the use of artificial intelligence chips that it designed in-house to lower the costs of operating a cloud computing service it made widely available this week, an executive said Tuesday.
Roku Inc entered into a partnership with Shopify that gives viewers the option to seamlessly buy products directly from their TVs.
Goldman Sachs initiated coverage on XPeng Inc. with a Buy rating and a 12-month price target of $18.10 as analysts expect Chinese auto OEMs’ overseas sales volume to rise from 2.7 million to 8.5M in 2022-2030E, driven by leading technology and product competencies of Chinese EV models.
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