| What to watch today: Stock futures are basically flat as major banks report earnings | | |  | THU, APR 14, 2022 | | | | AS OF THU, APR 14, 2022 • 08:53 ET | | Dow Jones Fut | | 34,564.59 | | Current: | 34,494.00 | | Change: | 12.00 | | Impl. Open: | 25.41 | | | S&P 500 Fut | | 4,446.59 | | Current: | 4,433.00 | | Change: | -9.25 | | Impl. Open: | -8.89 | | | NASDAQ 100 Fut | | 14,217.29 | | Current: | 14,187.75 | | Change: | -33.75 | | Impl. Open: | -31.54 | | | Russell 2000 Mini | | 2,025.10 | | Current: | 2,016.90 | | Change: | -5.50 | | Impl. Open: | -5.50 | | | Stocks had a strong Wednesday. The S&P 500 and tech-heavy Nasdaq Composite broke three-day losing streaks, climbing 1.12% and 2.03%, respectively. The Dow Jones Industrial Average added 344 points, or 1.01%. (CNBC) | | | | Retail sales in March narrowly missed estimates, the Commerce Department said Thursday, rising 0.5% for the month compared with Dow Jones forecasts of 0.6%. | | | | Initial jobless claims rose for the week ended April 9, increasing 18,000 from the previous week to 185,000, according to the Labor Department. Dow Jones estimates called for 172,000 initial unemployment filings. | | Elon Musk made an offer to buy Twitter for $54.20 a share, just days after the Tesla CEO and world's wealthiest person reversed course on joining the social media company's board of directors. In a letter to Twitter's chairman, Musk said he thinks Twitter "needs to be transformed as a private company." (CNBC) | | |  | UnitedHealth Group (UNH) reported an adjusted quarterly profit of $5.49 per share, 11 cents above estimates, with revenue also topping Wall Street forecasts. Results were helped by growth in the company's Medicare Advantage business, and it also raised its full-year outlook. | | | | Rite Aid (RAD) lost an adjusted $1.63 per share for its latest quarter, larger than the 57 cent loss expected by Wall Street analysts, although revenue exceeded estimates. Rite Aid also projected a fiscal 2023 loss that is smaller than analysts had been anticipating, as well as detailing a cost reduction program. Shares rose as much as 5.5% in premarket trading before retreating. | | | | UPS (UPS) rose 1% after Loop Capital upgraded it to to buy from hold, saying the call was largely based on an attractive valuation for the delivery service's stock. | | | | Western Digital (WDC) and Seagate Technology (STX) were downgraded by Susquehanna Financial. The firm moved Western Digital to neutral from positive and Seagate to negative from neutral, on expectations of weaker demand in 2023. Western Digital fell 3% in premarket trading while Seagate lost 3.3%. | | | | Rent The Runway (RENT) The fashion rental company's stock was volatile in premarket trading after it reported a smaller-than-expected loss, as well as revenue and profit margins that exceeded Street forecasts. The stock had initially dipped in off-hours trading as investors focused on a lighter-than-expected forecast for the current quarter, then moved higher before losing its gains again. | | |
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