Monday’s Headlines: Stock Futures Look To Recover
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
Ford Motor Company (F) +6.7%
Evolent Health (EVH) +3.7%
StoneCo (STNE) +2.8%
Copart (CPRT) +2.4%
Pure Storage (PSTG) +2.0%
Moving Down ⬇️
Ctrip (TCOM) -3.7%
Chegg (CHGG) -3.0%
Etsy (ETSY) -2.8%
ShotSpotter (SSTI) -2.6%
Zoom Communications (ZM) -2.6%
1. Following two straight weeks of losses, U.S. stock futures are on the rise this morning. The Dow Jones Industrial Index (DIA), S&P 500 (VOO), and the tech-heavy Nasdaq (QQQ) are all in the green, despite large Bitcoin losses over the past week inflicting damaging sell-offs on some more speculative stocks that have become involved with the volatile currency. In more directly related stock market news, analysts await earnings reports from a number of retail companies, including Nordstrom (JWN) and Ulta Beauty (ULTA), which may give some insight into how consumer sentiment stands as reopening continues. Read more here.
2. Shares in Ford Motors (F) rose more than 6% on Friday due to growing optimism surrounding its upcoming F-150 Lightning electric pickup truck. The new design was revealed last Wednesday at a company event and has received a largely positive response, especially regarding its relatively low starting price of just $40,000, the same as Tesla’s (TSLA Cybertruck. Friday’s leap comes as a result of Ford’s revelation that close to 50,000 reservations for the truck were placed in the first 48 hours of the truck’s reveal, indicating strong demand and strength in the automaker’s EV ambitions. Read the full story here.
3. Apple (AAPL) CEO Tim Cook was in the hot seat in court on Friday during the company’s trial with ‘Fortnite’ maker, Epic Games. The CEO was grilled about the App Store’s 30% fee for all purchases, with suggestions that Apple should give users information on how to make purchases directly from the company itself, thus bypassing the fees. The three-week trial will conclude on Monday, but the judge preceding has warned that it may take weeks or months until she makes a decision, at which point an appeal will be likely. We’re far from the finish line here folks. Read more here.
Get this week’s full earnings calendar here.