Tesla, SpaceX, CoreWeave, Netflix, and More Stocks That Explain Today's Market

Dow Jones10-16 18:28

Stock futures were rising Friday after Federal Reserve Chairman Kevin Warsh didn't say much about inflation at an IMF meeting, strengthening hopes the central bank will hold rates steady at its Oct. 27-28 monetary policy gathering.

Tesla jumped 5.1% in premarket trading after the electric vehicle maker unveiled its new Roadster sports car. The car's SpaceX thrusters will enable it to hover in the air. SpaceX stock added 2.5%.

CoreWeave dropped 3.6% ahead of the opening bell as investors continued to fret about artificial-intelligence spending. Shares have slumped 15% over the past five sessions as yields on CoreWeave's debt soar.

Strategy fell 3% after MSCI approved new rules that could exclude the Bitcoin investor and other companies with mainly nonoperating assets from its global equity indexes from Nov. 30.

Netflix slid 2.4% after the video streamer said Peter Rice would replace Bela Bajaria as its chief content officer, effective Oct. 26. Netflix has struggled to ease worries about declining engagement this year.

Alcoa climbed 2% after the aluminum producer's third-quarter earnings beat analysts' expectations, thanks so the run-up in commodity prices.

J.B. Hunt Transport Services declined 1.4% after the trucking company narrowly beat Wall Street's third-quarter earnings target. Shares are still reeling after CFO Brad Delco told investors J.B. Hunt's profit would slump between 5% and 10% due to higher fuel prices.

 

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