Stocks fell premarket as President Donald Trump escalated the trade war by vowing to impose 200% tariffs on wine and other alcohol from the European Union. LVMH, Remy Cointreau and Pernod Ricard fell in European trading on the news.
This may have overwhelmed good news on the inflation and job fronts, as new reports showed wholesale inflation slowed more than expected in February and that both new and continuing jobless claims last week were lower than the consensus estimates.
Futures point to the S&P 500, Nasdaq 100 and Dow Jones indexes all opening slightly lower today. Tesla (TSLA) shares fell about 0.6% in premarket trading.
Here are some stocks that may be active today:
Adobe (ADBE) fell about 7% before the open after the software firm gave a mixed outlook on its current quarter — with the forecast for earnings per share slightly trailing the consensus estimate — despite beating expectations for the three months ending Feb. 28.
Dollar General (DG) stock gained 5% premarket after the discount retailer projected comparable sales — revenue excluding new outlets — would rise as much 2.2% this year, compared with the consensus estimate of 1.8%, according to FactSet.
Intel (INTC) stock jumped by almost 13% premarket after the chipmaker said tech executive and former board member Lip-Bu Tan will be the company’s new CEO, effective March 18.
SentinelOne (S) stock plunged 13% in premarket trading after the cybersecurity company’s projection for fiscal first-quarter revenue missed expectations. Executives told analysts that it plans to stop selling “Deception” products that came with its Attivo purchase, Investors Business Daily reported.
Taiwan Semiconductor Manufacturing Co. shares fell 2.6% before the bell after the stock fell 2.3% in trading in Taipei on Thursday. The chip foundry has fallen almost 10% over the past 12 sessions as foreign investors unloaded shares, Bloomberg News reported, citing exchange data.
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