|
Apple Inc, Microsoft Corp, Meta Platforms, Amazon.com, Google
owner-Alphabet Inc and Tesla Inc rose between 1.2% and 2.5% in
premarket trading.
Goldman Sachs Group added 1.3% to lead gains among the big
banks.
On Monday, the benchmark S&P 500 index ended below 4,000 for the
first time since late March 2021 and the Nasdaq dropped more
than 4%.
Both the indexes have dropped about 16% and 26%, respectively,
this year due to the war in Ukraine, China's COVID-19 lockdowns
roiling global supply chains and rising bond yields as traders
adjust to higher U.S. interest rates.
The quick rise in yields, the war-related trouble in oil markets
and other factors have already strained some parts of the
financial system, the Federal Reserve reported on Monday in a
biannual update that warned of a system poised for potentially
"sudden" disruption.
Meanwhile, a closely watched inflation report due on Wednesday
is expected to show consumer prices increased at a slower pace
in April.
At 6:43 a.m. ET, Dow e-minis were up 281 points, or 0.87%, S&P
500 e-minis were up 39.75 points, or 1%, and Nasdaq 100 e-minis
were up 176.5 points, or 1.45%.
A slew of Fed policymakers are also scheduled to speak later in
the day, with investors parsing for clues on future path of
interest rates.
Among other stocks, Novavax Inc plunged 22.5% after the vaccine
maker revealed a sharp drop in first-quarter COVID-19 research
funding and said it shipped less than a fourth of the total
vaccine deliveries slated for 2022.
AMC Entertainment added 4.2% after it posted
better-than-expected quarterly revenue and a narrower loss, as
the release of big-ticket films such as "The Batman" drew crowds
to movie halls of the world's largest theater chain.
(Reporting by Amruta Khandekar in Bengaluru; Editing by Sriraj
Kalluvila)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
