apple,-nvidia,-micron,-cintas:-what-to-watch-when-the-stock-market-opens-today

Apple, Nvidia, Micron, Cintas: What to Watch When the Stock Market Opens Today

Shares of major technology firms were clawing back some of Tuesday’s losses

Micron Technology headquarters in Boise, Idaho, March 28, 2021.



Photo:

Jeremy Erickson/Bloomberg News

Futures are pointing to a partial relief rally after Tuesday’s rout on Wall Street. Here’s what we’re watching before Wednesday’s trading heats up.

  • Major technology shares that closed with losses on Tuesday were inching higher premarket. Microsoft 0.8% added, Google parent Alphabet edged up 0.6%, Apple gained 0.8% and chip maker Nvidia climbed 1.1%.
  • Micron Technology slipped 3.4% premarket. The memory chip maker beat expectations in its recent quarterly earnings but failed to impress Wall Street with its outlook.
  • Shares of discount retailer Dollar Tree jumped 4.2% premarket after the company said early Wednesday that it had added about $1 billion to its share repurchase plan.
  • Computer hardware maker HP slid 0.8% premarket. JPMorgan cut both its rating and the price target for the stock.
  • Earnings are due from Cintas , Herman Miller and Jabil before the opening bell.
  • Bitcoin was up 1.2% on Wednesday from its 5 p.m. ET price on Tuesday, and popular crypto wallet provider Coinbase was also up 1.2% premarket.
  • Major U.S. airlines were inching higher ahead of the bell, with American Airlines up 0.7%, Delta Air Lines up 0.6%, United Airlines up 0.4% and Southwest Airlines up 0.6%.
  • Vaccine makers that were hit in Tuesday’s market decline were staging a rebound. Moderna gained 2.2% premarket and Novavax climbed 2.5%.
  • Cal-Maine Foods climbed 1.9% premarket. The egg producer’s losses narrowed in the fiscal first quarter as sales rose 13% due to higher selling prices.
  • Landec  will report results after Wednesday’s close.
Chart of the Day
  • A swift rise in government-bond yields is hitting shares of technology stalwarts that have powered major indexes higher for years, testing investors’ faith in some of the stock market’s most popular trades.

Write to James Willhite at james.willhite@wsj.com

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