Home Dogecoin Alphabet, Pinterest, Mondelez, Dogecoin: What to Watch When the Stock Market Opens Today

Alphabet, Pinterest, Mondelez, Dogecoin: What to Watch When the Stock Market Opens Today

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Alphabet, Pinterest, Mondelez, Dogecoin: What to Watch When the Stock Market Opens Today

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Here’s what we’re watching ahead of Wednesday’s opening bell.

  • U.S. stock futures wobbled as investors awaited insights from the Federal Reserve on the economic recovery as well as earnings reports from giant technology companies.
  • Futures tied to the broad S&P 500 traded mostly flat, while Dow Jones Industrial Average futures edged down 0.2%. Nasdaq-100 futures also slid 0.2%, pointing to further weakness for tech stocks a day after they pulled broader indexes lower. Read our full market wrap here.
What’s Coming Up
Market Movers to Watch
  • Alphabet


    GOOG -0.84%

    shares jumped more than 5% premarket after the Google parent said it would repurchase an additional $50 billion in shares, fulfilling the wishes of investors who had been monitoring the company’s swelling cash reserves.

  • Pinterest


    PINS 1.11%

    shares plunged more than 11% ahead of the bell. The online-pinboard company reported 78% on-the-year revenue growth for the first quarter, but its user growth fell short of analysts’ expectations as pandemic restrictions eased.

Pinterest’s user growth for the recent quarter fell short of expectations.



Photo:

Gabby Jones/Bloomberg News

  • Mondelez


    MDLZ -0.09%

    added 2.5% premarket after the maker of Oreos and other food and beverages reported first-quarter profit and sales above expectations.

  • Capital One


    COF 0.48%

    shares rose 2.7% ahead of the bell. The bank holding company specializing in credit cards, auto loans, banking and savings accounts reported a swing to profit in the first quarter, beating analyst expectations.

  • Visa


    V -0.19%

    ticked up 0.9% in off-hours trading after its latest earnings showed some recovery in spending amid the pandemic.

  • Starbucks


    SBUX 0.20%

    shares slipped 1.4% premarket. The coffee chain said it is operating more efficiently than before the pandemic struck, as it reported a bump-up in quarterly sales.

  • Meme cryptocurrency dogecoin shot up 15% Wednesday to trade at 31 cents. The gains came after Tesla CEO Elon Musk tweeted “The Dogefather” and referenced his upcoming hosting of “Saturday Night Live.”
Market Facts
  • Over recent days, firms eligible to participate in the New York Fed’s reverse repo facility and its 0% return have gone from ignoring it to pumping in cash. The Federal Reserve Bank of New York took in $142.17 billion Tuesday and $101 billion Monday, in what were both overnight operations.
  • Iron-ore rose to an all-time high on the back of booming steel markets. The price paid for iron ore hit $193.85 a metric ton on Tuesday, according to a daily price published by S&P Global Platts. That surpassed a record of $193 a ton reached in February, 2011.
  • On this day in 1942, the World War II bear market hit bottom, as the Dow Jones Industrial Average closed at 92.92, down 0.97 points for the day and 16.3% for the year to date. Over the next four years, the market more than doubled.
Chart of the Day
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