Dow Futures Edge Lower As Investors Turn Cautious Ahead Of Inflation Data: ORCL, KLAR, HOOD, GME Among Stocks To Watch
U.S. stocks appeared set for a negative opening on Wednesday as investors awaited the release of wholesale inflation data on Wednesday and consumer inflation numbers on Thursday, days before the Federal Open Market Committee's (FOMC) September meeting.
While Dow Jones futures edged lower by 0.15% at the time of writing, the S & P 500 futures rose 0.25%, and the tech-heavy Nasdaq 100's futures gained 0.19%. Futures of the Russell 2000 index were down 0.31%.
Meanwhile, the SPDR S & P 500 ETF (SPY) was up 0.28% at the time of writing, and Invesco QQQ Trust (QQQ) gained 0.24% on Wednesday morning. Retail sentiment around the S & P 500 ETF on Stocktwits was in the 'bullish' territory.
Asian markets ended Wednesday's trading session on a positive note, with the KOSPI leading with gains of 1.67%, followed by the TWSE Capitalization Weighted Stock index at 1.36%, and the Hang Seng index at 1.11%.
The Nikkei 225 gained 0.7%, while the Shanghai Composite index rose 0.13%.
Stocks To Watch
- Oracle Corp. (ORCL): Oracle shares soared more than 31% pre-market on Wednesday, heading for its best day since 1999, after the company issued an upbeat earnings outlook and stated that its remaining performance obligations (RPO) are likely to exceed half a trillion dollars. Klarna Group Plc. (KLAR): Klarna is scheduled to make its debut on the New York Stock Exchange (NYSE) on Wednesday, after having raised $1.37 billion, beating its $1.27 billion target. Robinhood Markets Inc. (HOOD): Robinhood announced a slew of new advanced tools for traders, including the ability to short stocks, take positions in overnight index options, and more. Robinhood shares edged up by 0.7% in Wednesday's pre-market trade. GameStop Corp. (GME): GameStop shares surged nearly 12% pre-market after the company reported earnings per share (EPS) of $0.25 in the second quarter (Q2), beating an estimated EPS of $0.19, according to Stocktwits data. Its revenue of $972 million also came ahead of analyst expectations of $900 million.
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