By Mia
Good morning moomooers! Here are things you need to know before the opening bell:
U.S. futures erased a gain as investors worried about the economic recovery and the risks of rising inflation.
Stocks making the biggest moves premarket: AMC, Ford, XPeng and others.
Market Snapshot
As of 08:39 a.m. ET, Dow Jones Industrial Average rose 73 points. S&P 500 futures decreased 1.5 points, and Nasdaq 100 futures traded 14 points lower.
U.S. futures erased a gain as investors weighed the budding economic recovery and progress on vaccines against the risks of rising inflation. The Nasdaq fell modestly as recently slumping tech stocks continued to fight rising bond yields.
Source: Bloomberg
Premovers
Stocks making the biggest moves premarket: AMC, Ford, XPeng and others
$AMC Entertainment Holdings Inc(AMC.US)$ - AMC will begin reopening movie theaters in Los Angeles, starting with two locations today. It plans to open the remaining 23 theaters in Los Angeles on Friday and hopes to have all 56 California locations open by then depending on local approvals. AMC jumped 8.7% in premarket trade.
$Ford Motor Co(F.US)$ - Ford will recall 2.9 million vehicles to check for potentially faulty driver-side Takata airbags. The National Highway Traffic Safety Administration had called on Ford to do so in January, and the automaker plans to begin notifying owners on April 1.
$XPeng Inc.(XPEV.US)$ - XPeng got a $76.8 million investment from the provincial government in Guangdong, where the Chinese electric vehicle maker is based and has two manufacturing plants. XPeng added 4.2% in premarket action.
Top News
U.S. banks will turn last year's fear into this year's profits
In the coming months, banks are expected to free up tens of billions of dollars in reserves they set aside to cover soured loan-losses that still haven't materialized a year into the pandemic.
Europe is still in the throes of Covid, but its stocks are rallying
Stocks in Europe have been on the rise as international investors reposition their portfolios for the global economy to return to normal-a trade that hinges on smooth reopenings in the region.
Commodities supercycle looks like a stretch
Some investors are betting commodity prices will surge over a long period, but history suggests the conditions aren't right.
White House weighs how to pay for economic plans
After the Covid-19 relief package, moderate Democrats may resist taking on more debt to pay for investments in infrastructure, clean energy and education.
Short sellers boost bets against SPACs
Investors who bet against stocks are targeting special-purpose acquisition companies, one of the hottest growth areas on Wall Street.
Source: CNBC, Dow Jones Newswires, Bloomberg
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