Stocks were little changed in premarket trading. Futures tied to the S&P 500, the Nasdaq 100, and the Dow Jones Industrial Average point to a slightly higher op ahead of economic indicators including consumer confidence and new home sales later on Tuesday.
Markets rose on Monday after Donald Trump’s comments about tariffs due to be unveiled on April 2. The president said reciprocal duties may stop short of his pledge to equalize with levels charged by foreign countries on U.S. goods. The administration may also delay duties on particular types of products.
Consumer confidence for March, due at 10 a.m. today, is in focus. Consensus is for the index to drop to 94.5 from 98.3 in February. New home sales may have picked up last month to an annualized rate of 677,500 from 657,000 in January. The Richmond Fed Index probably fell to -2.
Federal Reserve Atlanta President Raphael Bostic told Bloomberg TV he now sees just one interest-rate cut as likely this year as tariff hikes impede progress on inflation, anticipating a return to the 2% target only in early 2027.
Here are some stocks in focus today:
Boeing
Boeing’s stock edged higher premarket after the Wall Street Journal reported that the planemaker is seeking to withdraw its earlier agreement to plead guilty in a criminal case that alleged it deceived regulators before two fatal crashes of its 737 MAX jets. The Trump administration is inclined to at least modify parts of the agreement, the newspaper said, citing people familiar.
BYD
BYD’s Hong Kong-listed shares fell 3.5%, failing to sustain post-earnings gains in the U.S. on Monday after the electric vehicle maker’s earnings surged by more than expected.
GameStop
GameStop’s stock gained about 0.6% premarket. The game distributor will report fiscal fourth-quarter earnings after the close on Tuesday. Consensus is for per-share earnings of 8 cents on sales of $1.48 billion, according to StreetAccount’s survey of analysts.
McCormick
McCormick & Co.’s shares fell 3.6% before the open after the food flavorings company said that fiscal first-quarter sales and per-share profit missed the consensus expectations compiled by StreetAccount. The company reaffirmed its earnings projections for the full year.
Tesla
Tesla’s European sales and market share declined again in February despite overall growth in EV registrations in the region during the month, Reuters reported, citing European Automobile Manufacturers Association data. The stock nonetheless rose 1.6% premarket.
Trump Media
Trump Media’s stock jumped 8.1% before the bell after it announced a tie-up with Crypto.com to start exchange-traded funds (ETFs) through the Truth.Fi brand that will combine digital assets with securities with a “made in America” focus in industries such as energy.
23andMe
23andMe’s stock dropped 5.5% premarket following its 59% plunge yesterday after it filed for Chapter 11 bankruptcy to facilitate a sale process.
Xiaomi
Xiaomi’s stock fell 6.3% in Hong Kong after the phone and EV maker said it’s raised HK$42.5 billion ($5.5 billion) to fund its expansion through the private sale of 800 million new shares at HK$53.25 each.
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