By Jacob Sonenshine
Stocks were set for a lower open as concerns continue to rise.
The Dow Jones Industrial Average dropped 200 points, or 0.55%, while the S&P 500 fell 0.45% and the Nasdaq Composite declined 0.35%.
Markets were concerned about the Delta strain, which is disrupting both global demand and supply chains.
"U.S. futures are lower this morning," writes Tom Essaye, founder of Sevens Report Research.
Elsewhere, U.S. retail sales missed expectations. They fell 1.1% month-over-month for July, worse than the estimated 0.3% drop raising concerns that the U.S. consumer may be starting to retrench. "The 1.1% m/m fall in retail sales in July could be a sign that some consumers are to stay away from public spaces again and is consistent with real consumption growth slowing sharply in the third quarter," writes Andrew Hunter, senior U.S. economist at Capital Economics.
Here are five stocks making moves in Tuesday's premarket action:
$Tesla, Inc.(TSLA.US)$ stock fell 1.8% after CEO Li Xiang of electric vehicle maker Li Auto (LI), said the industry should limit using terms of autonomous driving. Li stock has dropped 2%.
$Walmart Inc(WMT.US)$ stock fell 0.2% after reporting a profit of $1.78 a share, beating estimates of $1.57 a share, on sales of $141 billion, above expectations for $137 billion.
$Sea Limited(SE.US)$ stock rose 3.8% after reporting a loss of 61 cents a share, worse than estimates of a 49 cent loss, on sales of $2.3 billion, above expectations for $2 billion.
$AppLovin Corporation(APP.US)$ stock rose 1.5% after getting upgraded to Equal Weight from Underweight at Morgan Stanley.
$Alibaba Group Holding Ltd(BABA.US)$ has dropped 3.1% after Chinese regulators said that they will continue to target competition and data safety.
Write to jacob.sonenshine@barrons.com
(END) Dow Jones Newswires
August 17, 2021 09:19 ET (13:19 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Comment(1)
“Tesla is dropping, Alibaba is falling”, when will these stocks raising
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