EU and US could reach trade deal this weekend - Reuters
Investing.com -- U.S. stock futures steadied Thursday, with investors digesting news of trade tariffs on imported automobiles, ahead of the release of more important economic data.
Here are some of the biggest premarket U.S. stock movers today:
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General Motors (NYSE:GM) stock slid 6%, Ford (NYSE:F) fell 2.9% and Jeep-maker Stellantis (NYSE:STLA) dropped 1.4% after President Trump announced his plan to implement 25% tariffs on imported cars and light trucks effective next week.
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Tesla (NASDAQ:TSLA) stock rose 0.8%, bouncing from the previous session’s over 5% fall, even after HSBC slashed its target price on the EV manufacturer, seeing more than 50% downside.
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Lululemon (NASDAQ:LULU) stock rose 0.1% ahead of the release of the athleisure wear company’s quarterly results after the closing bell, with investors set to pay particularly close attention to any comments about the broader outlook for discretionary spending.
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Winnebago (NYSE:WGO) stock rose 3.5% after the manufacturer of motorhomes reported better-than-expected fiscal second-quarter revenue and a narrowed loss.
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Nio (NYSE:NIO) ADRs fell 7.6% after the Chinese electric vehicle maker announced a proposed offering of approximately 118.8 million shares, representing 5.4% of its total outstanding shares.
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Advanced Micro Devices (NASDAQ:AMD) stock fell 3.4% after Jefferies downgraded its stance on the chipmaker to “hold” from “buy”, citing the company’s “limited traction” in artificial intelligence.
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Northrop Grumman (NYSE:NOC) stock rose 0.6% after RBC Capital Markets upgraded the aerospace and defense company to “outperform” from “sector perform”, saying the company is the likeliest choice for the Department of Defense’s Navy F/A-XX Stealth Fighter program.
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GameStop (NYSE:GME) stock fell 7.7% after the video game retailer said it would offer $1.3 billion of convertible senior notes, planning to use some of the net proceeds to buy bitcoin.