US stock futures waved as traders prepared for data releases that will offer insight about the health of the US economy and the Federal Reserve’s interest-rate path.
These stocks made moves Tuesday:
Tesla - Tesla's sales in China logged their best month for the year so far in August, with the U.S. electric vehicle maker benefiting from brisk sales in smaller cities. Additionally, Tesla denied the report that it plans to produce a six-seat variant of its Model Y car in China from late 2025. The shares gained 1.2% in premarket trading.
Nvidia - Nvidia shares dropped another 1.6% in premarket trading after sinking 7.7% last week. Nvidia once again beat Wall Street’s expectations when it reported earnings. But for a company that’s been on a stunning growth streak over the past two years, merely great numbers may no longer be enough to impress investors.
Novavax - The U.S. Food and Drug Administration granted emergency use authorization for an updated version of Novavax's COVID shot. Novavax shares rose 1.6% in premarket trading.
NIO - NIO shares rose 1% in premarket trading. NIO delivered 20,176 vehicles in August, the fourth straight month above the 20,000 mark. That was up 4.38 percent from 19,329 a year earlier, but down 1.57 percent from 20,498 in July. The company is slated to release second-quarter 2024 results on Sep. 5, before the opening bell.
XPeng - XPeng delivered 14,036 vehicles in August, its sixth consecutive sequential increase. That's up 26 percent from 11,145 in July and up 2.53 percent from 13,690 in the same month last year. XPeng shares rose 1.7% in premarket trading.
Li Auto - Li Auto delivered 48,122 vehicles in August, down 5.64 percent from 51,000 in July, but up 37.83 percent from 34,914 a year ago. Li Auto shares dropped 2% in premarket trading.
GameStop - GameStop shares gained another 2.3% in premarket trading after a two-day surge last week on retro gaming push and debt reduction. GameStop is scheduled to report Q2 earnings on September 10 after the market closes.
U.S. Steel - Kamala Harris said US Steel should remain “American owned and American operated” during a visit to Pennsylvania on Monday, dealing the latest blow to Nippon Steel’s hopes of buying the company. U.S. Steel shares dropped 4.3% in premarket trading.
RLX Technology - RLX Technology shares gained 4.1% in premarket trading. China Tobacco's new e-cigarette rules stated that the ex-factory prices and suggested retail prices of e-cigarette products produced and sold in China will be determined independently by the e-cigarette product manufacturing enterprises and e-cigarette brand holding enterprises.
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