Here Are 4 Hot Things to Know About Stocks Right Now
- Dow Jones futures point to a 281 point drop when markets open. S&P 500 mini futures were down 1.04% and Nasdaq futures were off 1.05%.
- Action Alerts PLUS holding Facebook (FB - Get Report) shares are down 1% in premarket trading ahead of CEO Mark Zuckerberg's second round of in front of U.S. lawmakers. Shares gained 4.5% while he testified in front of the Senate Tuesday.
- SoftBank Group Corp. (SFTBY) and Deutsche Telekom AG (DTEGY) , the respective owners of Sprint (S - Get Report) and T-Mobile US (TMUS - Get Report) surged on reports of more merger talks.
- Maybe Trump is right about Action Alerts PLUS holding Amazon (AMZN - Get Report) : Jefferies estimates that about 62% of Amazons packages flow through the USPS. Via @BrianSozzi
Wall Street futures were in the red Wednesday, April 11, ahead of key inflation data out of the U.S. expected at 8:30 am ET. Futures fell significantly after President Donald Trump tweeted Wednesday morning telling Russia to "get ready" for Syria Missile Strikes.
Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and "smart!" You shouldn't be partners with a Gas Killing Animal who kills his people and enjoys it!— Donald J. Trump (@realDonaldTrump) April 11, 2018
The Dow Jones Industrial Average futures at 7:36 am ET point to a 282 point drop when markets open. S&P 500 mini futures were down 1.03% and Nasdaq futures were off 1.03%.
The U.S. consumer price index is expected by economists to come in at 2.3%, and the core inflation reading will likely hit 2%, according to Factset concensus data, the Federal Reserve's inflation target.
Facebook Inc. (FB - Get Report) shares were down 1.02% in premarket trading at $163.39, after rising 4.5% on Tuesday while CEO Mark Zuckerberg testified in front of testified before Congress for the first time, answering questions about Cambridge Analytica, antitrust regulation and the company's transparency with its users. Zuckerberg faces more questioning Wednesday from a House committee.
Twenty-First Century Fox Inc. (FOXA) lost 1.6% in premarket trading to $35.69 after the European Commission raided its London offices. The EC is investigating potential abuse by Fox of its dominant position in broadcasting of major sporting events. Sky plc (SKYAY) shares were down 0.52% to 1,319 pence, as Fox awaits the outcome of a regulatory review of its proposed acquisition of the 61% of Sky it doesn't already own.
Tesla Inc. (TSLA - Get Report) was marked 1.63% lower at $299.74 in premarket trading. Goldman Sachs analysts on Tuesday advised investors to sell their Tesla stock on worries about the Model 3 production, according to CNBC. CEO Elon Musk hit out at the analysts on Twitter.
Place your bets …— Elon Musk (@elonmusk) April 10, 2018
Global markets were struggling to find direction on Wednesday as investors weigh a possible U.S. military strike in Syria and despite hopes for an easing of the trade tensions between the U.S. and China.
European markets opened lower, with Germany's Dax fell 0.82% to 12,296 and France's Cac 40 lost 0.58% to 5,276.
London's FTSE 100 down 0.23% at 7,250, after data out of Britain showed a surprise fall in manufacturing and and construction output which point to a slowing economy, sending the pound down. The FTSE has an inverse relationship with the pound.
Deutsche Telekom AG (DTEGY) , the German owner of T-Mobile, surged, gaining 3.17% to €13.98, its biggest rise since May 2017, on reports that T-Mobile US (TMUS - Get Report) and Sprint (S - Get Report) have resumed takeover talks. This would mark the third time the companies have held talks in four, the reports suggest the two are not yet close to a deal. Sprint's Japanese owner SoftBank Group Corp. (SFTBY) shares gained as much as 4.8% in Tokyo on Wednesday, before paring gains to 3.54%. Sprint shares surged more than 17% on Tuesday after the reports, but were down 0.66% in premarket trading Wednesday.
Tesco plc (TSCDY) , the U.K.'s No.1 supermarket, after it reported pre-tax profit of £1.3 billion ($1.8 billion) in the 12 months to February. The retailer also announced its first annual dividend in five years. Tesco's same-store sales increased 2.5% in the year. Shares were jumped 5.69%, changing hands at 222 pence.
Asian markets were mixed, with China's Shanghai Composite Index up 0.28% and Hong Kong's Hang Seng up 0.53%. Japan's Nikkei lost 0.49% and the Topix was down 0.38%.
Global markets surged on Tuesday after Chinese President Xi Jinping after Chinese President Xi Jinping pledged to open more sectors to foreign companies but also warned against a "Cold War mentality" amid a trade dispute with the U.S.
The Dow Jones Industrial Average jumped 428 points, or 1.79%. The S&P 500 rose 1.67% and the Nasdaq rose 2.07%.