Stocks were set for a higher open as the market bounced back from its worst day in months.
Futures on the
gained 230 points, or 0.7%, while
futures rose 0.4% and
futures advanced 0.4%
On Monday, all three major indexes fell more than 1% each. Investors feared the Delta variant of Covid-19, sending not only stocks lower, but also bond yields, which typically rise and fall with expectations for inflation and economic demand. The 10-year Treasury yield fell to as low as 1.18%.
Tuesday, markets seemed to calm, with equity futures rising. “Equity futures are cautiously rebounding,” writes
Tom Essaye,
founder of Sevens Report Research.
Here are five stocks making moves in Tuesday’s premarket action:
IBM (ticker:
) stock rose 3.3% after reporting a profit of $2.33 a share, beating estimates for $2.29 a share, on sales of $18.75 billion, above expectations for $18.3 billion.
(TRV) stock gained 1.2% after reporting a profit of $3.45 a share, beating estimates for $2.39 a share, on sales of $8.7 billion, above the expected $7.5 billion.
(SPG) stock gained 1.8% after getting upgraded to Buy from Hold at Stifel.
(RKT) stock dropped 3.6% after getting downgraded to Underperform from Neutral at Wedbush.
(ED) stock dropped 0.4% after getting downgraded to Underweight from Sector Weight at KeyBanc Capital Markets.
Write to Jacob Sonenshine at jacob.sonenshine@barrons.com
