- Futures: Dow off 0.07%, S&P flat, Nasdaq up 0.21%
Nov 9 (Reuters) – U.S. stock index futures traded flat on Tuesday in the run-up to the first of a couple of readings on inflation this week, while General Electric surged on its plan to split into three public companies.
Data from the Labor Department due at 8:30 a.m. ET will likely show its producer price index for final demand rose 0.6% in October, with accelerating inflation and tighter monetary policy becoming a bigger concern for investors than the COVID-19 pandemic. read more
The S&P 500 (.SPX) and the Nasdaq (.IXIC) closed at all-time highs on Monday for the eighth straight session, while the Dow (.DJI) clocked its second consecutive record closing high.
A better-than-expected earnings season, positive developments around COVID-19 antiviral pills and the loosening of travel curbs have recently helped the market continue its record run.
General Electric Co (GE.N) jumped 11.6% in premarket trading after the U.S. conglomerate said it would split itself into three companies focused on aviation, healthcare and power. read more
Tesla Inc (TSLA.O) shares rose 1.4%, rebounding from a nearly 5% fall on Monday after Chief Executive Elon Musk’s Twitter poll proposing to sell a tenth of his holdings garnered 57.9% vote in favor of the sale.
The proposal also raised questions about whether Musk may have violated his settlement with the U.S. securities regulator again. read more
At 6:50 a.m. ET, Dow e-minis were down 25 points, or 0.07%, S&P 500 e-minis were up 1.5 points, or 0.03%, and Nasdaq 100 e-minis were up 34.5 points, or 0.21%.
Robinhood Markets Inc (HOOD.O) slipped 3.1% after the online retail brokerage said a third party had obtained access to the email addresses of about five million of its customers in a security breach incident. read more
Zynga Inc (ZNGA.O) jumped 6.6% after the “FarmVille” creator beat quarterly net bookings estimates, while Tripadvisor Inc (TRIP.O) fell 7.4% after reporting downbeat quarterly earnings and announcing the departure of Chief Executive Stephen Kaufer. read more
Reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Aditya Soni
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