Tesla, General Motors, Lululemon, AppLovin: Stocks to watch
Futures point lower as Fed's favorite inflation measures comes in hotter than expected
Stocks fell premarket after the Federal Reserve’s favorite inflation measure came in slightly hotter than expected. Futures linked to the S&P 500, the Nasdaq 100, and the Dow Jones Industrial Average all pointed to a lower open on Friday.
Suggested Reading
General Motors (GM) 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 auto parts, announced Wednesday evening.
Related Content
The core PCE picked up to 0.37% month-on-month in February — faster than the expected 0.30% — from 0.30% in January. The year-over-year increase accelerated to 2.8% from an upwardly revised 2.7%. Monthly personal consumption grew a faster-than-projected 0.43% while income gains unexpectedly sped up to 0.80%.
Economic indicators have been a mixed bag in recent weeks, with surveys showing both consumers and businesses 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
AppLovin (APP) stock jumped 9% in pre-opening trading, rebounding from Thursday’s 20% decline prompted by the publication of a report by short seller Muddy Waters.
General Motors
General Motors fell 1.2% premarket, extending declines for a second day after President Donald Trump announced 25% tariffs on all imported cars, trucks and auto parts. Stellantis (STLA) fell 1.6% before the bell, while Ford (F) edged higher.
Lululemon
Lululemon’s (LULU) stock fell 11% 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) reported.
Tesla
Tesla’s (TSLA) stock advanced 0.5% 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.