Wall Street futures are rising at the start of the month, pointing to modest opening gains for the S&P 500 before another batch of earnings. This is what we see before the bell.
- Novavax said it has completed its renewed submission to Health Canada to allow a Covid-19 vaccine candidate. Shares jumped 15% in pre-market trading.
- At Moderna, there was no good news. The Food and Drug Administration is delaying a decision on the company’s request to allow the use of the Covid-19 vaccine in teens to assess whether the shot increases the risk of myocarditis. Shares fell 2.7%.
- US-listed Nio shares fell 4.5% ahead of the market. The China-based electric car company said deliveries fell by more than a quarter from a year earlier in October.
- Also in the electric vehicle territory, US-listed XPeng shares added 2.8% ahead of the market. The Chinese automaker reported strong sales for the month of October.
- Tesla gained 2.8% ahead of the market. Ganfeng Lithium said it has signed a contract to supply the electric car maker with battery products from 2022 to 2024. Tesla The options in the hands have changed at a frantic pace lately.
- CrowdStrike shares lost 2.6% after BTIG downgraded the stock from “buy” to “neutral”.
- Plug Power, which develops hydrogen fuel systems and whose stock is often subject to large price swings, rose 4.9 percent. Stocks were among the most heavily traded pre-market.
- Day trader favorite AMC Entertainment gained 2.5%. AMC said ticket revenue from US movie theaters was the highest in any month since February 2020.
- Trading is also taking place at a fast pace: Palantir Technologies. The software company rose 1.5%.
High-speed trading firms pay brokers billions of dollars annually to execute options orders, which leads them to promote risky deals that have boomed in popularity among small investors. Here’s how Robinhood Markets capitalized on the derivatives frenzy.