Dow Futures Flat Premarket As Fed Meeting Kicks Off Today: TSLA, ORCL, GOOGL, CMG Among Stocks To Watch

U.S. stocks appear poised for a cautious opening on Tuesday as the Federal Reserve begins its two-day meeting to discuss the direction of monetary policy amid soft inflation and a weakening labor market.

Data from the CME FedWatch tool indicates a 96.1% probability of a 25-basis-point interest rate cut at the September meeting.

While Dow Jones futures were flat at the time of writing, the S&P 500 futures rose 0.2%, while the tech-heavy Nasdaq 100’s futures gained 0.33%. Futures of the Russell 2000 index were up 0.06%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was up 0.19% at the time of writing, while Invesco QQQ Trust (QQQ) gained 0.3% on Tuesday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

Asian markets ended Tuesday’s trading session on a largely positive note, with the KOSPI leading with gains of 1.23%, followed by the TWSE Capitalization Weighted Stock index at 1.06%, the Nikkei 225 index at 0.53%, and the Shanghai Composite at 0.04%.

The Hang Seng index declined 0.04%.

Stocks To Watch

• Tesla Inc. (TSLA): Tesla shares continued to rise, gaining nearly 2% in Tuesday’s premarket session following a surge on Monday after co-founder and CEO Elon Musk acquired 2.57 million shares of the company on Friday, at an aggregate value of nearly $1 billion.
• Oracle Corp. (ORCL): Oracle shares gained nearly 5% premarket amid reports that the company remains a top contender for the TikTok deal between the U.S. and China.
• Alphabet Inc. (GOOG) (GOOGL): Alphabet’s shares gained over 1% premarket, continuing to build its gains as the company’s market capitalization surged past $3 trillion.  Ahead of President Donald Trump’s visit to the U.K., Google announced that it would invest nearly $7 billion in the country.
• Chipotle Mexican Grill Inc. (CMG): Chipotle shares rose nearly 2% premarket after the company announced a $500 million stock buyback plan.
• The New York Times Co. (NYT): President Trump threatened a $15 billion suit against The New York Times over alleged defamation and bias.

Also See: Elon Musk’s Tesla Stock Purchase Is A ‘Clear Signal Of Confidence’ From The CEO, Says William Blair

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on