Updated October 13, 2021 9:38 am ET
Wall Street stocks opened higher after closely watched consumer price data showed inflation accelerated slightly in September and the first big earnings reports of the season arrived. Here’s what we’ll see ahead of the opening on Wednesday.
JPMorgan Chase JPM -2.67%
and BlackRock BLK 3.70%
started third quarter earnings, and their stocks varied in early trading. BlackRock stock advanced in early trading after hitting a profit in the third quarter when assets under management rose more than 20%. JPMorgan’s earnings rose 24% over the period, but stocks fell slightly.
A Chase bank branch in San Francisco, California, April 12, 2021.
David Paul Morris / Bloomberg News
- Meme stick Koss KOSS -5.63%
rebounded, rising 11% after opening. Trading in the headphone manufacturer’s share was temporarily suspended shortly before the closing bell on Tuesday amid rising volatility.
Plug-in power supply PLUG 11.33%
Stocks were on the rise. The fuel cell power systems company’s stock received a rating upgrade from Morgan Stanley MS 0.62%
and a price target of $ 40 per share. It closed at $ 29.78 on Tuesday.
Delta Air Lines DAL -5.91%
Stocks slipped in early trading. The airline posted a quarterly profit as travel demand began to recover in recent weeks, despite the company saying it is under pressure from rising fuel prices.
Smart Global Holdings SGH 16.72%
Stocks climbed after reporting record quarterly and annual sales.
Pinnacle Financial Partners PNFP 3.79%
reported a year-on-year increase in earnings per share in the last quarter.
Southwest Airlines LUV -2.39%
Pilots said the airline’s breakdown over the weekend, which resulted in the cancellation of more than 2,000 flights, reflected the crew’s long-term fatigue and frustration, leaving them vulnerable to further failures.
Hasbro HAS 0.08%
Chief Executive Brian Goldner died Tuesday just days after taking medical leave.
- Supply chain management software provider E2open Parent Holdings ETWO 0.13%
is due to report receipts after graduation.
Chart of the day
- Seniors and other Americans who will receive Social Security benefits in 2022 are likely to see the largest increase in their payments in decades, reflecting rising inflation during the pandemic.
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