| What to watch today: Stocks set to bounce after Wall Street's losing week | | |  | MON, JUN 06, 2022 | | | | AS OF MON, JUN 06, 2022 • 08:41 ET | | Dow Jones Fut | | 32,899.70 | | Current: | 33,175.00 | | Change: | 287.00 | | Impl. Open: | 286.30 | | | S&P 500 Fut | | 4,108.54 | | Current: | 4,154.75 | | Change: | 47.75 | | Impl. Open: | 47.21 | | | NASDAQ 100 Fut | | 12,548.03 | | Current: | 12,751.25 | | Change: | 200.25 | | Impl. Open: | 201.22 | | | Russell 2000 Mini | | 1,883.05 | | Current: | 1,903.40 | | Change: | 22.10 | | Impl. Open: | 19.35 | | | At the end of this trading week, investors and the Federal Reserve get a look at the latest consumer price index. Economists see inflation at the retail level in May rising a robust 8.2% year over year but again ticking lower for the second straight month. (CNBC) | | | Whether the U.S. has seen peak inflation or not, the surge in gas prices is showing no signs of abating. The national average at the pump reached nearly $4.87 per gallon as of Monday, according to AAA. California continued as the highest of any state, with gas costing an average of $6.34 per gallon there.
The reasons for the increases: more demand ahead of the summer driving season and a continued to rise in oil prices. In fact, West Texas Intermediate and Brent crude traded to around $120 per barrel as traders doubted whether a 50% increase in OPEC+'s monthly output target would help ease tight supply. (Reuters) | | Spirit Airlines (SAVE) jumped 6% in the premarket after JetBlue (JBLU) on Monday sweetened its bid, including its break-up fee, for the ultra low-cost carrier. Spirit rejected JetBlue's previous offer, favoring a lower bid from Frontier Airlines, on the thought that regulators would not approve a JetBlue combination. Last week, the parent of Frontier (ULCC) increased its break-up fee. (Reuters) | | | | Starbucks (SBUX) is considering only external candidates to be its next CEO, according to interim Chief Executive Officer Howard Schultz. He told The Wall Street Journal that the company needs to add new talent to its executive ranks. Starbucks was up 1.8% in the premarket. | | | | Apple (AAPL) shares rose in the premarket as the company's annual Worldwide Developers Conference was set to begin Monday. Apple stock has lost 16.9% so far this year amid concerns about a slowdown in demand. Apple gained 1.4% in premarket trading. (The Verge) | | | | Shares of Chinese ride-hailing giant Didi (DIDI) surged more than 50% in premarket trading in the U.S. on Monday after The Wall Street Journal reported that regulators in China are concluding yearlong investigations into the company. According to the Journal, Chinese authorities plan as early as next week to lift a ban on Didi adding new users and to reinstate the company's app in domestic app stores. | | | | Tesla (TSLA) CEO Elon Musk said Saturday the electric vehicle maker's total head count will increase over the next 12 months, but the number of salaried staff should be little changed. Those comments seemed to backtrack from last week's email to employees that said job cuts of 10% were needed. Tesla jumped 3% in Monday's premarket after dropping 9% on Friday. (Reuters) |  | Shares of solar equipment providers rose in premarket trading, following a Reuters report saying the White House would declare a 24-month exemption from solar panel tariffs as well as other moves to spur U.S. solar panel production. | | | | Keurig Dr Pepper (KDP) will be added to the S&P 500 index prior to the opening of trading on June 21, along with ON Semiconductor (ON) and real estate investment trust VICI Properties (VICI). Keurig rallied 7.9% in premarket action, with ON Semiconductor surging 7.2% and VICI jumping 8.4%. | | | | Under Armour (UAA) stock is among those being replaced in the S&P 500 on June 21. Under Armour will move to the S&P MidCap 400, along with laser maker IPG Photonics (IPGP). Under Armour lost 1.2% in the premarket. | | | | Eli Lilly (LLY) rose 1.2% in premarket trading, after announcing successful results in studies involving diabetes drugs Trulicity and Jardiance. | | | | Revlon (REV) is in talks with lenders on pushing back debt payment deadlines as the cosmetics maker tries to avoid a bankruptcy filing, according to The Wall Street Journal. Revlon added 1.6% in premarket trading. | | |
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