Stocks fell premarket ahead of the release of the Federal Reserve’s favorite inflation measure later on Friday morning. Futures linked to the S&P 500, the Nasdaq 100, and the Dow Jones Industrial Average all pointed to a lower open today.
General Motors (GM-6.94%) and some other automaker shares extended declines overseas and premarket in the wake of Trump’s imposition of 25% tariffs on all imported cars, trucks, and autoparts, announced Wednesday evening.
The core PCE deflator probably picked up to 0.30% month-on-month and 2.7% year-over-year in February, according to consensus estimates in FactSet (FDS+1.78%), from 0.28% and 2.6%, respectively, in January. Monthly personal consumption growth may have accelerated 0.30% while income gains slowed to 0.40%. The numbers are due at 8:30 a.m. EDT.
Economic indicators have been a mixed bag in recent weeks, with surveys showing both consumers and business feeling anxious about their future prospects, while actual data continues to point a strong labor market and ongoing growth — except for manufacturing.
Stocks ended lower yesterday as investors’ concerns about Trump’s trade war outweighed a report showing new jobless claims held steady last week and an upward revision of fourth-quarter GDP.
Here are some stocks to watch today:
AppLovin (APP-15.89%) stock jumped 8% in pre-opening trading, rebounding from Thursday’s 20% decline prompted by the publication of a report by short seller Muddy Waters.
General Motors fell 7.4% premarket, extending declines for a second day after President Donald Trump announced 25% tariffs on all imported cars, trucks and autoparts. Stellantis (STLA-0.88%) fell 1.6% before the bell, while Ford (F-3.25%) edged higher.
Lululemon’s (LULU+0.96%) stock fell 13% premarket after the athleisure wear maker’s projections for full-year sales and profit missed analyst expectations. The company has scrambled to update its product line to compete with trendier brands, Reuters (TRI+0.58%) reported.
Tesla’s (TSLA+2.13%) stock advanced by about 1% in early trading after analysts called Elon Musk’s automaker the clear winner from Trump’s tariffs given its more-localized production — and despite Musk’s own assertion that the company won’t be unscathed by the duties.
The post Tesla, General Motors, Lululemon, AppLovin: Stocks to watch appeared first on Quartz.
