Stock futures today: Live updates

Moments Ago

Amazon, software stocks among biggest Nasdaq laggards

24 Mins Ago

Oil prices jump Tuesday on growing supply concerns

Oil prices surged more than $1, marking a fourth consecutive session of gains as weak U.S. shale output added to supply concerns from extended production cuts by Saudi Arabia and Russia.

Here’s how prices fared Tuesday morning:

Prices have gained for three consecutive weeks, with both benchmarks reaching their highest since last year.

— Pia Singh

56 Mins Ago

Disney falls 3% on plan to spend $60 billion on parks, cruises

Disney shares fell 3% during early morning trading after revealing plans to nearly double its planned investment in its parks and and cruise business, according to securities filings released Tuesday.

The entertainment giant said it will invest roughly $60 billion in this segment over the next decade.

— Lillian Rizzo, Samantha Subin

An Hour Ago

Barclays begins coverage of Supermicro, highlights AI exposure

Barclays says Supermicro stock can jump thanks to exceptional artificial intelligence exposure.

The firm began coverage of the computer technology stock on Tuesday with an overweight rating.

“On the back of the compelling AI investment trend, we believe SMCI’s robust AI server offerings will enable it to seize the increasing opportunity in this area, leading to strong revenue growth over the next few years,” analyst George Wang said.

CNBC Pro subscribers can read the full story here.

— Brian Evans

An Hour Ago

Stocks open lower

Stocks were down as trading kicked off.

The Dow and S&P 500 each slid 0.2% shortly after 9:30 a.m. ET. The Nasdaq Composite slipped 0.3%.

— Alex Harring

2 Hours Ago

Central banks take center stage around the world

It’s a big week for central banks — both within the U.S. and abroad.

The Federal Reserve begins its two-day policy meeting Tuesday. Traders are pricing in a 99% probability the Fed skips a rate hike when announcing policy on Wednesday, according to CMEGroup’s FedWatch tool, which gauges pricing in fed funds futures. The Fed will also offer economic forecasts on Wednesday.

The central banks of multiple other countries are also expected to announce policy decisions this week. Here’s a list of the countries scheduled to release decisions in the 36 hours following the Fed’s announcement expected at 2 p.m. ET on Wednesday, per Bespoke Investment Group:

  • Brazil
  • Indonesia
  • Japan
  • Norway
  • South Africa
  • Sweden
  • Switzerland
  • Taiwan
  • Turkey
  • The United Kingdom

Sam Stovall, chief investment strategist at CFRA Research, said investors around the globe “are on edge waiting to find out what their central banks are likely to do.”

— Alex Harring

2 Hours Ago

Rocket Lab shares drop after first launch failure in more than two years

Rocket Lab shares dropped in premarket trading after the aerospace company suffered its first launch failure in more than two years early Tuesday morning. The stock was last lower by roughly 20%.

The company said its 41st Electron rocket launch – lifting off from New Zealand and carrying the Acadia 2 satellite for San Francisco-based Capella Space – failed about 2 minutes and 30 seconds into the flight. Rocket Lab said it has begun working with the Federal Aviation Administration on investigating the root cause of the issue, which appeared to happen around the time the rocket’s first and second stages separated.

The aerospace stock is set to open below $5. Shares closed Monday at $5.04.

See Chart…

Rocket Lab USA shares 1-day

— Michael Sheetz, Sarah Min

3 Hours Ago

Stocks making the biggest moves premarket

Check out the companies making headlines before the bell:

  • CarnivalRoyal Caribbean Group — The cruise lines both gained about 2% after being upgraded by Truist. The Wall Street firm moved Royal Caribbean to buy from hold and Carnival to hold from sell, citing forward-looking trends for 2024 and 2025 that look “exceptionally strong.” Truist maintained its hold rating on Norwegian Cruise Lines, which was up more than 1% in premarket trading.
  • Deere & CompanyCNH Industrial — The two stocks slid in the premarket after Evercore ISI downgraded each to in-line from outperform, citing agricultural production cuts. Deere fell 1.4%, CNH declined 1.2%.
  • Starbucks — Shares fell 1.2% after TD Cowen downgraded the coffee giant over the “worrisome” macro backdrop in China. The firm believes slower consumer spending in China could hit share growth and affect Starbucks’ multiple.

Read the full list here.

— Sarah Min

3 Hours Ago

TD Cowen downgrades Starbucks on China headwinds

Starbucks shares slid more than 1% before the bell after TD Cowen said slower consumer spending and macroeconomic headwinds China could hurt the coffee chain.

The firm downgraded the stock to market perform from outperform on Tuesday.

“While we forecast consensus 2023-25E EPS is achievable, in our view the multiple isn’t discounted enough vs the 5Y [average] that leads us to expect shares will be in a holding pattern,” analyst Andrew Charles said. “We like the long-term story but move to the sidelines as we monitor China macro & competitive dynamics.”

CNBC Pro subscribers can read the full story here.

— Brian Evans

3 Hours Ago

Monday brought muted moves for stocks

The three major indexes finished Monday’s session little changed as investors readied for the Federal Reserve meeting that begins Tuesday.

The Dow ended the session 0.02% higher, while the Nasdaq Composite inched up just 0.01%. Meanwhile, the S&P 500 was the most changed with a gain of 0.07%.

— Alex Harring

7 Hours Ago

European markets open lower

European markets opened lower Tuesday, with investors looking ahead to the start of the U.S. Federal Reserve’s two-day monetary policy meeting.

The pan-European Stoxx 600 index opened 0.2% lower, with sectors spread across tentatively positive and negative territory. Health-care stocks made the biggest losses, down 0.7%, while travel and leisure stocks were up 0.2%.

— Hannah Ward-Glenton

16 Hours Ago

Square CEO to depart company

The CEO of Square is set to depart the company, according to regulatory filings released Monday.

Alyssa Henry is slated to leave the unit of fintech company Block on Oct. 2 after more than nine years at the company.

Shares of Block dipped nearly 2% in extended trading.

— Samantha Subin

16 Hours Ago

Cathie Wood stands by her wildly bullish call on Tesla

Ark Invest’s Cathie Wood reiterated her massively bullish call on her EV darling Tesla, seeing it hitting $2,000 in five years driven largely by a robotaxi boom.

“About a third of our valuation is associated with electric vehicles,” Wood said on CNBC’s “Fast Money” Monday. “Two thirds of our evaluation is around autonomous [driving] and autonomous taxi platforms.”

Wood’s bear case on Tesla is a $1,400 target by 2027 and $2,500 as her bull case. Tesla is the biggest holding in her flagship Ark Innovation ETF (ARKK) fund, with a 11.5% weighting. Shares of Tesla have mpre than doubled this year after losing 65% in 2022.

— Yun Li

16 Hours Ago

Instacart prices IPO at $30 a share

Instacart priced its IPO at $30 a share Monday evening, valuing the grocery delivery company at roughly $10 billion.

The company is set to debut Tuesday on the Nasdaq under the “CART” ticker symbol.

The puts the offering at the top end of the $28 to $30 a share range expected.

— Ari Levy, Samantha Subin

17 Hours Ago

Stock futures open little changed

Stock futures opened little changed on Monday evening as Wall Street looked ahead to the start of the Federal Reserve’s policy meeting.

Futures tied to the Dow Jones Industrial Average added 13 points, or 0.03%, while S&P 500 futures and Nasdaq 100 futures inched up 0.02% and 0.06%, respectively.

— Samantha Subin

Read More:Stock futures today: Live updates

2023-09-19 14:55:00

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