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Data from the Labor Department due at 8:30 a.m. ET will likely
show its producer price index for final demand rose 0.6% in
October, with accelerating inflation and tighter monetary policy
becoming a bigger concern for investors than the COVID-19
pandemic.
The S&P 500 and the Nasdaq closed at all-time highs on Monday
for the eighth straight session, while the Dow clocked its
second consecutive record closing high.
A better-than-expected earnings season, positive developments
around COVID-19 antiviral pills and the loosening of travel
curbs have recently helped the market continue its record run.
General Electric Co jumped 11.6% in premarket trading after the
U.S. conglomerate said it would split itself into three
companies focused on aviation, healthcare and power.
Tesla Inc shares rose 1.4%, rebounding from a nearly 5% fall on
Monday after Chief Executive Elon Musk's Twitter poll proposing
to sell a tenth of his holdings garnered 57.9% vote in favor of
the sale.
The proposal also raised questions about whether Musk may have
violated his settlement with the U.S. securities regulator
again.
At 6:50 a.m. ET, Dow e-minis were down 25 points, or 0.07%, S&P
500 e-minis were up 1.5 points, or 0.03%, and Nasdaq 100 e-minis
were up 34.5 points, or 0.21%.
Robinhood Markets Inc slipped 3.1% after the online retail
brokerage said a third party had obtained access to the email
addresses of about five million of its customers in a security
breach incident.
Zynga Inc jumped 6.6% after the "FarmVille" creator beat
quarterly net bookings estimates, while Tripadvisor Inc fell
7.4% after reporting downbeat quarterly earnings and announcing
the departure of Chief Executive Stephen Kaufer.
(Reporting by Shreyashi Sanyal and Devik Jain in Bengaluru;
Editing by Aditya Soni)
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