—U.S. stock futures edged lower as investors awaited fresh comments from
Jerome Powell
a day after the Federal Reserve chairman soothed unsettled markets.
Futures tied to the S&P 500 lost 0.3%, while contracts on the Dow Jones Industrial Average slipped 0.2%. Futures on the technology-heavy Nasdaq-100 dropped 0.9%. Read our full market wrap.
What’s Coming Up
—Earnings are due from
and
after the close.
—Federal Reserve Chairman Jerome Powell testifies on monetary policy before the House Financial Services Committee at 10 a.m. Livestream here.
—U.S. new-home sales for January, due at 10 a.m., are expected to rise to an annual pace of 850,000 from 842,000 a month earlier.
Market Movers to Watch
—Electric-vehicle startup
‘s shares soared 19% premarket. Foxconn has agreed to assemble cars for Fisker, the latest deal for the Apple iPhone assembler in its eager expansion into the automotive sector over the past year.
—
shares jumped 20% ahead of the bell after drug and medical-device developer
agreed to acquire it.
—Shares of home-improvement retailer
climbed 1.1% after it delivered its premarket earnings report. Its profit beat expectations as same-store sales climbed. It also said it is planning a share buyback.
—Cybersecurity firm
‘s shares shot 8% higher premarket. It reported earnings after Tuesday’s close and said it was targeting $50 million in cost savings over the next 12 months after a recent restructuring.
—Shares
gained 2.7%.
added 1.7%.
—
shares fell 2.8% after its premarket earnings report reflected both profit and sales taking a hit amid Covid-19-related store closures.
—
shares dropped 4.5%, though the payments company reported a profit in its fourth quarter, which was lifted by its investment in
—
shares slipped 2.3% premarket. The luxury homebuilder reported higher profit and sales for the fiscal first quarter as low mortgage rates, tight housing inventory and the pandemic helped boost demand.
—
shares added 2.1% premarket, building on gains that came during Tuesday’s investor presentation, KeyBanc raised its price target for the stock.
—
shares dropped 2.4% ahead of the bell. The maker of financial management tools TurboTax, QuickBooks and Mint posted lower profit in the recent quarter as costs and expenses rose, but it saw 11% revenue growth in its small business and self-employed group business.
TurboTax is among the financial tools produced by Intuit.
Photo:
Andrew Harrer/Bloomberg News
Market Fact
The Dow Jones Transportation Average added 0.2% on Tuesday, rising 21.69 points to 13403.11, a new record close.
Chart of the Day
This year’s furious rally in cryptocurrencies lost steam, knocking prices for bitcoin and ether from recent highs, alongside drops in other risky assets including tech stocks.
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