Stock futures pointed higher Friday after Wall Street kicked off the first trading day of the new year finishing lower in a volatile session.
These stocks were poised to make moves Friday:
Tesla Motors rose 1.4% in premarket trading after the electric-vehicle maker tumbled 6.1% on Thursday following weaker-than-expected fourth-quarter EV deliveries. The result led to a sales decline in 2024, the company's first year-over-year sales decline since the introduction of the Model S Sedan, Tesla's first true production vehicle, in 2012.
Drone maker companies rose. SES AI Corp rose 29%; Ondas Holdings Inc. rose 27%; Red Cat Holdings Inc. rose 6%.
U.S. Steel was falling 8.3% after reports from The New York Times and Washington Post said President Biden has decided to block the $14 billion sale of the U.S. steel company to Japan's Nippon Steel. An announcement is expected as soon as Friday, the reports said. Biden was blocking the deal on grounds that the sale poses a threat to national security, the Times reported, citing people familiar with the matter.
Shares of Vistra Energy Corp. were up 1.3% in premarket trading. The electricity and power-generation company rose 8.6% on Thursday and was the S&P 500's best performer during the session. Vistra soared 258% last year as it rode the adoption of artificial intelligence by tech companies to significant gains. The company, like other utilities, provides electricity for giant AI data centers.
Another utility company, Constellation Energy Corp, jumped 8.4% on Thursday after the nuclear power plant owner signed two deals with the U.S. government that are expected to pay out about $1 billion over the next several years. In premarket trading, the stock was rising 2%.
Apple declined 2.6% on the first trading day of 2025, and in premarket trading was down a further 0.1%. It finished 2024 with a gain of more than 30%. It closed the year at $250.42, off its all-time closing high of $259.02 but remains within striking distance of $264.63, which would make the iPhone maker the first company ever to be worth $4 trillion.
Chewy, Inc. was up 3% after analysts at Wolfe Research upgraded shares of the online pet products retailer to Outperform from Peer Perform with a price target of $42.
Comments