Stock futures edged down, with futures tied to the S&P 500, the Nasdaq 100 and the Dow Jones Industrial Average all pointing to a slightly lower open.
Housing starts picked up in February by more than expected to an annualized pace of 1.50 million from a downwardly revised 1.35 million January. Building permits were little changed at a 1.46 million rate. The import and export price indexes both slowed by less than expected last month.
Industrial output growth, due at 9:15 a.m., may have slowed to 0.2% to in February, from 0.5% in January, but with manufacturing flipping to a 0.3% month-on-month increase, from a 0.15% decline.
Here are some stocks to watch today.
BYD’s (BYDDY) Hong Kong-listed shares gained 4.1% on Tuesday after the EV-maker said Monday that it had developed an ultra-fast charger able to refill a battery in five minutes. The company’s ADR’s advanced 2.4% premarket after rising 2.6% on Monday. Shares in rival Tesla (TSLA) were down 3.8% before the opening bell.
Google (GOOGL) parent Alphabet’s stock was little changed before the open after Bloomberg reported that the company is in fresh talks to buy cloud-security provider Wiz for about $33 billion, after extended discussions on a potential deal were called off last summer. Wiz is a privately held company.
Nvidia (NVDA) CEO Jensen Huang will give the keynote address Tuesday at his company’s AI developers conference in San Jose, California. Investors will be listening closely for any hints about future plans or demand for the company’s products. He’s due to start speaking at 1 p.m. E.T. today. Nvidia stock slipped Monday and was slightly lower in premarket trading Tuesday.
Tencent Music’s (TME) ADRs gained 3% in premarket trading after the Chinese online entertainment company’s fourth-quarter earnings topped expectations. The company’s Super Premium VIP membership gained traction among users, Reuters reported.
Xpeng’s (XPEV) U.S.-listed shares fell 3.3% before the bell after it posted earnings. The EV maker’s quarterly net loss narrowed by more than expected and revenue was in line with expectations, The Wall street Journal reported.
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