Space Race, Nvidia and IBM: What to Watch When the Market Opens
To the moon! Well, not quite, but to space at least today for Jeff Bezos, the billionaire e-commerce mogul. Nor does Amazon AMZN go to the moon -0.67%
shares, although it is up 0.5% before trading on Tuesday morning.
- One reason for Bezos’ rocket trip is the more earthly goal of winning government contracts for the less exciting kinds of science projects that provide reliable income. His company Blue Origin is catching up with Elon Musk’s SpaceX.
- Tesla, Mr. Musk’s electric vehicle maker,
is getting a little boost Tuesday morning before the open, rising 0.7% pre-market. It’s also gaining more attention on message boards among daily traders, according to Topstonks.com. The company reports earnings next Monday and tends to see its shares rise in the coming days as investors start to wait for exciting announcements.
- In broader markets, US stock futures are trending up ahead of the post-sell-off Monday. S&P 500 futures were up 0.5% as were Nasdaq-100 futures, while Dow futures were up 0.6%.
Nvidia NVDA 15.18%
it is up 0.9% in large volumes after a 15% increase on Monday. The shares have risen nearly 80% over the past year, putting the chipmaker on the list of the top 10 US public companies.
IBM International Business Machines -0.71%
it is up 4% before Tuesday’s open after posting decent second-quarter numbers the Monday after the close. The computing group’s efforts to refocus on cloud-based computing and spin off its old IT services business are gaining traction among investors. At the same time, it has benefited from companies starting to invest again as the economy reopens.
Advanced AMD Micro Devices 0.80%
is climbing the chat charts on social media platforms, according to Topstonks.com, gaining popularity among retail merchants. Its shares were up 0.8% pre-trade on good volumes after a similar rise on Monday.
- Growing Talk and Voluminous Volumes Tuesday Morning for Another Perennial Retail Favorite: AMC Entertainment.
The theater chain’s shares have suffered a bit so far this month, but are 1% higher before going to market on Tuesday.
Zoom Video Communications ZM -2.15%
is rebounding slightly Tuesday morning, with pre-market trading up 2.4% after a 2.2% drop on Monday when it revealed it would buy customer service software company Five9..
Target stocks rose nearly 6% on Monday, but are flat before trade.
- Shares of large US investment banks, which took a hit on Monday with the financial markets downturn, look set to rally a bit Tuesday: Goldman Sachs,
JPMorgan Chase JPM -3.25%
and Morgan Stanley MS -2.08%
they are up about 1% in premarket operations.
- Bitcoin fell below $ 30,000 on Tuesday for the first time in a month.
United Airlines UAL -5.54%
and Chipotle Mexican Grill CMG -0.60%
should report earnings after Tuesday close.
Chart of the day
- Stocks, commodities and other financial markets faltered on Monday on mounting concerns about the robustness of the post-Covid-19 global recovery.
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