| What to watch today: Stocks set to slip after Wall Street's Fed-driven decline | | |  | THU, JUN 17, 2021 | | | | AS OF THU, JUN 17, 2021 • 08:32 ET | | Dow Jones Fut | | 34,033.67 | | Current: | 33,802.00 | | Change: | -103.00 | | Impl. Open: | -112.67 | | | S&P 500 Fut | | 4,223.70 | | Current: | 4,198.00 | | Change: | -15.00 | | Impl. Open: | -16.20 | | | NASDAQ 100 Fut | | 13,983.01 | | Current: | 13,907.25 | | Change: | -65.50 | | Impl. Open: | -68.76 | | | Russell 2000 Mini | | 2,314.69 | | Current: | 2,298.50 | | Change: | -11.60 | | Impl. Open: | -9.69 | | | The Fed on Wednesday left rates unchanged and made no mention of adjusting its massive Covid-era bond-buying quantitative easing program. Looking ahead, central bankers indicated two rate hikes in 2023. In March, they had expected no rates increases until at least 2024. The Fed on Wednesday also raised its inflation expectation to 3.4%, but stuck with the "transitory" language. (CNBC) | | | | Taking a step back from Covid-era lows, the Labor Department reported Thursday morning that initial jobless claims rose to 412,000 last week. Economists had expected 360,000. Two weeks ago, new filings for unemployment benefits went below 400,000 for the first time since March 2020. (CNBC) | | A bipartisan senators' group working on a $1 trillion infrastructure compromise has more than doubled to 21 members, a key threshold giving momentum to their push as President Joe Biden returns from overseas at a pivotal time for his big legislative priority. Biden wants a bigger bill, more like what he proposed in his trimmed-down $1.7 billion American Jobs Plan. (CNBC & AP) | | | | CureVac shares plunged nearly 50% in Thursday's U.S. premarket, the morning after the German biopharma firm released disappointing preliminary results for its Covid vaccine candidate. It demonstrated an interim efficacy of 47% against the disease "of any severity," missing the main goal and throwing in doubt the potential delivery of hundreds of millions of doses to the European Union. (CNBC & Reuters) | | | | The Honest Company (HNST) reported a wider-than-expected loss in its first quarter as a public company, although revenue was better than analysts had anticipated. Sales got a boost from pandemic-induced demand for sanitizing products. The stock tumbled 8.3% in premarket trading. | | | | Tenet Healthcare (THC) shares jumped 3.5% in the premarket, after it announced the sale of five hospitals and associated physician practices in Florida to Steward Health Care for about $1.1 billion. | | | | Lennar (LEN) earned $2.65 per share for its latest quarter, beating the $2.36 a share consensus estimate. Revenue topped forecasts as well. The home builder is dealing with higher input costs and a labor shortage, but the lack of homes for sale in the U.S. helped push prices higher and expand Lennar's profit margins significantly over a year earlier. Shares rose 1% in the premarket. | | | | Dell Technologies (DELL) was chosen by Dish Network (DISH) to build key parts of the 5G network the satellite TV operator is building in the U.S. Dish will launch 5G service in Las Vegas later this year and plans to cover 70% of the U.S. with its network by mid-2023. The stocks were little changed in Thursday's premarket. | | | | Fisker (FSR) shares added 2.8% in the premarket after the electric vehicle maker signed a long-term manufacturing agreement with Magna International (MGA). Magna will build the Fisker Ocean electric SUV starting in November 2022. | | | | The Justice Department sued to block insurance company Aon's (AON) deal to buy consulting firm Willis Towers Watson (WLTW) for $35 billion. The DOJ said the combination could eliminate competition in several different markets. The firms said the move showed a lack of understanding of their businesses, clients and the markets in which they operate. | | | | A variety of financial institutions, governments and airlines experienced brief website outages early Thursday. Some of the outages were linked to a failure at web services company Akamai Technologies (AKAM), according to media reports. Akamai said it was aware of the issue and was working to restore service as soon as possible. Shares fell 1.5% in premarket trading. | | As the U.S. Open golf tournament tees off at Torrey Pines in California on Thursday, local hero Phil Mickelson, 51, following a PGA Championship win just last month, is seeking the one major title that would complete his career Grand Slam. Mickelson has won the PGA twice, The Masters three times, and the British Open once. (AP) | | |
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