Here’s what we’re watching ahead of Wednesday’s opening bell.
- U.S. stock futures wobbled as the global Covid-19 infection rate and potential for new variants led to concerns about the pace of world economic recovery.
- Futures tied to the S&P 500 and the Dow Jones Industrial Average wavered between gains and losses after two straight days of declines. Technology-heavy Nasdaq-100 futures slid 0.3%. Read our full market wrap.
What’s Coming Up
Market Movers to Watch
- Netflix shares were down more than 8% premarket. Subscriber growth for the first quarter was weaker than expected, a potential warning sign for the company as consumers start to emerge from lockdowns and streaming competition increases.
- Halliburton shares were up 2.3% premarket after the oil-services company delivered its latest quarterly earnings report.
- Tenet Healthcare added 1.7% premarket. The company reported earnings after-hours trading Tuesday and updated its outlook.
- FuelCell Energy shares dropped 3.4% premarket. The stock closed at $8.59 a share on Tuesday, after Wells Fargo set a price target of $9 a share.
- CSX shares dropped 1% ahead of the bell. The railroad operator’s top line fell in the first quarter and its net earnings declined from a year ago.
- The S&P 500 Real Estate Sector on Tuesday closed at a record for the first time since Feb. 14, 2020. The S&P 500 Energy Sector meanwhile closed in correction territory.
- Dogecoin, the digital currency created as a joke, pared gains after climbing more than 8,000% this year. By Tuesday, it fell to 31 cents, according to CoinDesk, despite some online users’ efforts to push it to $1 to recognize what some have called “Doge Day.”
- On this day in 1982, futures contracts on the S&P 500 index became available for the first time, as they opened for trading in the pits of the Chicago Mercantile Exchange.
Chart of the Day
Apple added a paid subscription to its podcast app, along with other new products including an updated high-end iPad. Heard on the Street’s Dan Gallagher writes that the new iPad and iMac might seem a bit late to the game, but there is good reason to think they will still find their mark.
Must Reads Since You Went to Bed
Corrections & Amplifications: Whirlpool’s quarterly earnings are due out after Wednesday’s close. An earlier version of this article incorrectly said they would be out before the open.
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