Here’s what we see when the markets kick off on Tuesday.
– –US stock futures rebounded When the recent government bond sell-off paused and huge tech stocks bounced back a little.
S&P 500-linked futures rose 1.1%, suggesting that the broad market benchmark could rise after the opening bell in New York. The Nasdaq 100% futures rose 2.5% and the Dow Jones Industrial Average futures rose 0.4%. The blue chips index hit a new intraday record on Monday. Read our full market report here.
– –Income is due by H&R Block HRB -1.79%
– –China’s consumer price index February is published at 8:30 p.m. It is expected to fall 0.4% year-over-year and the country’s producer price index is expected to increase 1.4% year-over-year.
Watch market movers
Tesla stock rose 7.4% in premarket trading, potentially tracing some of Monday’s loss. The stock has fallen for the last five consecutive trading sessions.
—Home sales website Zillow ZG 9.63%
is up 6.1% and is also reversing direction after five days of losses.
– Tech companies that benefit from people staying at home have increased. E-pinboard company Pinterest PINS 7.99%
6% added and affiliated workout bike company Peloton PTON 14.47%
increased by 5.5%.
Peloton Interactive stationary bikes for sale in the company’s showroom in Dedham, Mass., February 3, 2021.
Adam Glanzman / Bloomberg News
– Stitch Fix SFIX -28.15%
Shares fell 22% ahead of the IPO. The clothing retailer reported second-quarter revenue that fell short of Wall Street’s expectations after trading closed on Monday.
– GameStop GME 26.94%
rises again over 15% ahead of the market after rising over 40% on Monday. Its board of directors formed a committee to try to transform the video game retailer.
– Payment companies are facing the opening bell. PayPal PYPL 6.93%
rose 5.6% and Square SQ 11.50%
– Enphase Energy ENPH 12.60%
5.6% added. The solar inverter company lost over 18% of its value last week.
– The bank stocks are falling. Citigroup C. -1.70%
down 1.5%, Morgan Stanley MS -0.31%
down 1.3%, JPMorgan Chase JPM -0.71%
down 1.1%, Bank of America BAC -2.18%
slipped 1.3% and Goldman Sachs GS -1.08%
decreased by 0.9%.
– Dicks sporting goods DKS -6.34%
fell over 7% after its quarterly earnings report stated that revenue growth will slow or potentially decrease in the new fiscal year.
The Nasdaq Composite has moved at least 1.5% in either direction for six consecutive trading days. It is the longest route since the 15 consecutive trading days from March 2, 2020 to March 20, 2020.
Chart of the day
Energy retailers compete with local utility companies to offer consumers more choice. In almost every state they operate in, retailers have billed more than just regulated incumbents, according to an analysis by the Wall Street Journal.
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