Stock futures were lower Wednesday as energy prices soar adding to inflation concerns that could stall the economy's post-pandemic recovery.
Here are some of the top movers in Wednesday's market:
1. Palantir PLTR | Up 8.2%
Shares of Palantir (PLTR) - Get Palantir Technologies Report jumped after the U.S. Army awarded it an $823 million contract to deliver its intelligence data fabric and analytics foundation to modernize Army intelligence.
2. Facebook FB | Down 0.8%
Shares of Facebook (FB) - Get Facebook, Inc. Class A Report slipped a day after whistleblower Frances Haugen testified to Congress that Facebook repeatedly misled the public, choosing to grow at all costs and favoring its profits over user safety.
Facebook Chief Executive Mark Zuckerberg said the social media company's work and motives have been mischaracterized: "Many of the claims don’t make any sense. ... I think most of us just don’t recognize the false picture of the company that is being painted.”
3. Apple AAPL | Down 1.1%
Shares of big tech were under pressure Wednesday as bond yields rose. Shares of iPhone maker Apple (AAPL) - Get Apple Inc. (AAPL) Report fell 1.3%. Shares of Amazon (AMZN) - Get Amazon.com, Inc. Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report edged 0.7% lower.
4. Constellation Brands STZ | Down 1%
The alcoholic-beverages company clocked earnings of 1 cent a share compared with $2.62 a share in the year-earlier period. Constellation's adjusted earnings were $2.38 a share. Analysts surveyed by FactSet had forecast adjusted earnings of $2.79 a share.