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Lordstown Motors, Nvidia, Bitcoin: What to Watch When the Inventory Market Opens At the moment

Right here’s what we’re watching as Tuesday’s buying and selling will get underway.

  • U.S. inventory futures rose, placing indexes on the right track for additional good points as traders awaited contemporary knowledge on the well being of the housing market.
  • Futures tied to the broad S&P 500 index rose 0.3%, whereas blue-chip Dow Jones Industrial Common futures gained 0.2%. Nasdaq-100 futures rose 0.5%, placing expertise shares on the right track to rise after the opening bell, a day after they led broader markets larger. Learn our full markets wrap right here.
What’s Coming Up
  • U.S. new-home gross sales, due at 10 a.m., are anticipated to fall to an annual tempo of 959,000 in April from 1.021 million a month earlier.
  • A gauge of shopper confidence within the U.S. in Might can also be due at 10 a.m.
  • Earnings are due from

    Nordstrom,


    JWN -0.69%

    City Outfitters,


    URBN 2.66%

    Intuit


    INTU 1.61%

    and residential builder

    Toll Brothers


    TOL 1.14%

    after the shut.

Market Movers to Watch
  • Lordstown Motors


    RIDE 0.94%

    plunged over 14% premarket. The electrical-truck startup mentioned it’s dealing with higher-than-expected prices and has to chop its 2021 manufacturing forecast by a minimum of 50%. It’s additionally searching for to lift extra capital.

The Lordstown Motors Corp. in Warren, Ohio on June 25, 2020.



Picture:

DAVID MAXWELL/EPA/Shutterstock

  • America’s Automobile-Mart


    CRMT 1.96%

    is up 5.6%. The used-car retailer reported earnings after Monday’s shut and mentioned it had report revenues final quarter.

  • Moderna


    MRNA 1.68%

    rose 2.4% after reporting that its Covid-19 vaccine was efficient in a research for 12-to 17-year-olds. It plans to use for authorization from the Meals and Drug Administration and different regulators.

  • Airline shares climbed.

    United Airways


    UAL 1.52%

    added 3.2% after it mentioned yields generated from ticket gross sales within the second quarter are higher than anticipated, boosted by home journey.

    Delta Air Strains


    DAL 2.12%

    additionally rose 2.6%.

  • Bitcoin slipped 5% to commerce round $37,000, in comparison with its stage at 5 p.m. ET, pulling again after rallying near $40,000 on Monday night. Elon Musk tweeted: “Spoke with North American Bitcoin miners. They dedicated to publish present & deliberate renewable utilization & to ask miners WW to take action. Probably promising.”
  • Shares of

    Argo Blockchain,


    ARB 11.02%

    a British cryptocurrency miner, are up over 10% in London. It mentioned it joined the newly-formed Bitcoin Mining Council to advertise power utilization transparency and extra sustainable mining practices after talking with Mr. Musk.

  • Dogecoin declined almost 7% to 33 cents. Mr. Musk additionally tweeted a Reddit hyperlink asking for builders to submit concepts to assist construct out the cryptocurrency. One other account on Twitter requested him why he’s selecting to assist dogecoin over different cryptocurrencies. Mr. Musk replied “Doge has canines & memes, whereas the others don’t.”
  • Industrial-machinery agency

    Nordson


    NDSN 0.51%

    rose 4.7% after it boosted monetary projections for the yr following a robust second quarter. 

  • Nvidia


    NVDA 4.14%

    is up 1.2% in premarket buying and selling, wanting just like the inventory could prolong its four-day rally right into a fifth day. The chip maker is anticipated to report earnings on Wednesday.

  • Amazon


    AMZN 1.31%

    is nearing a deal to purchase the Hollywood studio MGM Holdings for nearly $9 billion together with debt, The Wall Avenue Journal reported. Its inventory is up 0.7% in premarket buying and selling.

Market Information
  • Ethereum soared as a lot as 28.7% on Monday, notching the largest intraday soar since Feb. 6, 2018.
  • The Nasdaq Composite had its lowest buying and selling quantity of the yr up to now on Monday, when 3.4 billion shares modified arms.
Chart of the Day
  • A market reversal has been notably merciless on China’s subsequent technology of expertise stars. Since peaking earlier this yr, previously scorching shares like Meituan, Kuaishou and Pinduoduo have misplaced almost half their worth, excess of greater friends like Alibaba or Western heavyweights like Amazon. Learn extra right here.
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