Powell speech takes center stage in Tuesday’s economic events
Investing.com - U.S. stock futures pointed sharply higher on Monday, as investors noted a potentially more conciliatory tone from President Donald Trump after he previously threatened to slap steep new tariffs on China.
Here are some of the biggest premarket U.S. stock movers today:
- U.S.-listed shares in rare earths materials companies rose, as investors hunted for alternatives to Chinese names during the ongoing trade spat between Beijing and Washington. Critical Metals, MP Materials, Compass Diversified and USA Rare Earth were among the biggest gainers in the sector. Last week, China announced new export restrictions on some rare earth minerals, partly fueling a tit-for-tat tariff threat from Trump.
- Shares of U.S.-listed precious metals miners rallied, after spot gold spiked to a new all-time high as investors sought out bullion’s traditional safe-haven status during a time of renewed trade tensions. Newmont, Equinox, Wheaton Precious Metals, Barrick Mining and Kinross Gold all gained more than 2%.
- Silver miners also gained after the metal notched its own record peak. Coeur Mining jumped by nearly 8%, First Majestic Silver added 7.4%, and Silvercorp Metals rose by 5.9%.
- Fastenal shares slumped over 5% after the maker of industrial and construction fasteners posted third-quarter operating income and margin that came up short of expectations.
- StubHub shares climbed after Wall Street analysts widely backed the ticketing platform’s long-term growth potential despite a choppy market debut last month. It was an upbeat note for analysts’ coverage of the stock following an industry-mandated quiet period.
- Estee Lauder shares increased after analysts at Goldman Sachs improved their rating of the beauty company to "buy" from "neutral."
- Netskope shares ticked higher on a series of bullish analyst ratings following the cloud security group’s initial public offering.