Palantir, Shiba Inu, Apple, American Airlines: what to watch for when the stock market opens today

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Updated October 6, 2021 at 8:06 a.m. ET

Futures point to another massive sell-off on Wall Street, as bond yields extend their rise and energy prices soar. Here’s what we’re watching ahead of Wednesday’s opening.

  • Palantir Technologies PLTR 0.17%

    jumped 6.4% before the opening bell. The data software company said it was selected for a U.S. military intelligence program contract.

  • Facebook Facebook 2.06%

    shares were down 1.2% pre-market after the company spent a day in the headlines amid testimony from a whistleblower on Capitol Hill and a widespread outage of its services.

  • But the downdraft of major tech stocks was hitting most of the giants. Microsoft MSFT 2.00%

    slipped 1.2% before commercialization, Apple AAPL 1.42%

    lost 1.2%, Google Alphabet GOOG 1.80%

    fell 1.3%, Netflix NFLX 5.21%

    dropped 0.7% and Nvidia NVDA 3.64%

    lost 2%.

Tim Cook spoke about the new iPhone 13 at the Apple event on September 16, 2021.


Photo:

Apple Inc.

  • Cryptocurrencies supercharged by Tesla CEO Elon Musk received another boost on Wednesday. The Shiba Inu token has gained 65% in the previous 24 hours, adding to a multi-day rally after Mr Musk posted a new photo of his Shiba Inu puppy named Floki on Monday. The coin now has a market value of $ 8.5 billion, making it the twentieth largest cryptocurrency, according to CoinMarketCap.com. Dogecoin, a favorite of Mr. Musk, also rose 3.8% in the previous 24 hours.
  • American Airlines AAL group shares 0.37%

    lost 3.5% before marketing and Delta Air Lines DAL -0.49%

    lost 1.7%, weighed down by concerns over fuel costs and slowing economic growth.

  • Brands Constellation STZ.B 0.06%

    was down 0.5%. The alcoholic beverage company saw an increase in sales in the fiscal second quarter as growth in beer brands led to higher revenues, although the company’s adjusted profit was lower than expected.

  • Brands Acuity AYI 1.36%

    added 1.7% after the industrial technology company said its profit for the fiscal fourth quarter increased, with sales benefiting from improved service levels and an improving economy.

  • Moderna MRNA vaccine manufacturers 1.92%

    and Novavax NVAX -4.64%

    seems poised to get stuck in the doldrums that began after Merck’s successful test of its Covid-19 treatment. Novavax fell 4.7% pre-market and Moderna fell 3.4%. Pfizer PFE -0.24%

    is also down, by 0.9%.

  • Saratoga Investment SAR Business Development Corporation 1.73%

    S shares rose 1.2% in the extended session after reporting record redemptions in the second quarter.

  • Levi Strauss 1.55%

    will provide an update on the results after the close.

Card of the day
  • Silver prices have just ended their worst four-month period since November 2014, dragged down by expectations of higher interest rates and a slowdown in manufacturing activity.

Write to James Willhite at [email protected]

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