Good morning traders and investors of the r/stocks sub! Welcome to the new trading day and a fresh start! Here are your pre-market stock movers & news on this Wednesday, May the 10th, 2023-
Stock futures slip ahead of key inflation report: Live updates
Stock futures fell slightly Wednesday as Wall Street braced for a key inflation report.
Futures tied to the Dow Jones Industrial Average dipped 35 points, or 0.1% while S&P 500 futures and Nasdaq-100 futures also pulled back by 0.1% each.
Airbnb and Twilio fell 13% and 16%, respectively, on weak forecasts. Electric vehicle maker Rivian popped 6% on a narrower-than-expected loss. Earnings season continues Wednesday with results from Disney, Roblox and Robinhood.
Investors are bracing for April’s consumer price index due out Wednesday, an important inflation gauge that should offer greater insight into whether the Federal Reserve’s rate hikes are working to ease sticky prices. Economists polled by Dow Jones are calling for a 0.4% month-over-month increase in inflation and 5% rise from a year ago.
“I think what it’s going to tell us is that the path towards normalization is not linear,” said EP Wealth Advisors’ Adam Phillips of Wednesday’s data release.
Despite visible progress in the inflation fight from multidecade highs, he expects little change in the figure.
“It won’t change our thinking for the Fed,” Phillips said. “The market could respond since they respond to anything that’s inflation-related these days, but when you get down to it, I don’t think it’s necessarily going to change the Fed’s calculus either.”
The major averages finished Tuesday’s session lower, with the S&P 500 and Nasdaq Composite falling 0.46% and 0.63%, respectively. The Dow Jones Industrial Average declined 0.17%.
Wall Street monitored the latest updates on the U.S. debt ceiling as worries mount that failing to reach a resolution before the June 1 deadline could lead to default. President Joe Biden held a key meeting with congressional leaders after the bell Tuesday, but comments from leadership on both sides of the aisle suggested that little progress was made.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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THIS AFTERNOON'S AFTER-HOURS EARNINGS CALENDAR:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: [cnbc.com]())
(TO BE POSTED LATER THIS MORNING.) — (TO BE POSTED LATER THIS MORNING.).
STOCK SYMBOL: (TO BE POSTED LATER THIS MORNING.)
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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 Wednesday, May 10th, 2023! :)
[link] [comments] https://www.reddit.com/r/stocks/comments/13dn8me/510_wednesdays_premarket_stock_movers_news/
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