Wall St. Tries To Regain Footing, Stocks Static| MENAFN.COM

Monday, 15 August 2022 04:50 GMT

Wall St. Tries To Regain Footing, Stocks Static

(MENAFN- Baystreet.ca) Wall St. Tries to Regain Footing, Stocks Static


Stock futures were mixed on Wednesday morning, a day after the major averages made a failed attempt at a bounce.
Futures for the Dow Jones Industrials added 21 points, or 0.1%, early Wednesday to 30.954.
Futures for the S&P 500 lopped off 1.25 points to 3,824.25.
Futures for the NASDAQ Composite index handed over 13.25 points, or 0.1%, to 11,661.
Carnival Corp slid nearly 8% in premarket trading after Morgan Stanley cut its price target on the stock in half and said it could potentially go to zero in the face of another demand shock. The call dragged other cruise stocks lower. Royal Caribbean lost 4% and Norwegian Cruise Line Holdings fell 3%.
In early trading, Bed Bath & Beyond shares plummeted more than 14% after the company posted a huge miss on quarterly earnings and revenue expectations and announced its CEO is stepping down.
Meanwhile, Pinterest shares jumped more than 4% on news that CEO Ben Silbermann is stepping down.
General Mills shares rose more than 2% after the company topped earnings and revenue forecasts for its most recent quarter.
Investors are looking ahead to comments from Federal Reserve Chairman Jerome Powell at the European Central Bank forum. Earnings from Bed Bath & Beyond, General Mills and McCormick are also on deck.
In Japan, the Nikkei 225 fell 0.9% Wednesday. In Hong Kong, the Hang Seng declined 1.9%
Oil prices gained $1.40 to $113.16 U.S. a barrel.
Gold prices captured $5.50 to $1,826.70 U.S. an ounce.


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