5 Things to Know Before the Stock Market Opens

Stock futures are down slightly this morning as investors digest corporate earnings reports and await key economic data; the Census Bureau is scheduled to release its report on December retail sales; Coca-Cola stock is losing ground after the beverage giant’s fourth-quarter sales came in below estimates; trading platform Robinhood is set to release its earnings report after the closing bell; and Spotify shares are soaring after the streaming giant reported strong quarterly results. Here’s what you need to know today.

Stock Futures Slip After Two Days of Gains

Stock futures are slightly lower after two consecutive days of solid gains for major indexes. Futures tied to the Dow Jones Industrial Average were down 0.2% recently, while those linked to the S&P 500 and the tech-heavy Nasdaq slipped 0.1%. Big gains for tech stocks fueled Monday’s strong performance, after a volatile stretch of trading for stocks tied to the AI boom. The Dow closed at a record high yesterday after surging above 50,000 for the first time on Friday. Bitcoin was trading at $68,500, down from an overnight high of $70,800 but well above the low near $60,000 hit last week. Gold futures were down slightly at $5,070 an ounce, while WTI crude oil futures held steady ay $64.35 per barrel. The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, was at 4.17%, down from 4.20% yesterday and near a four-week low.

Retail Sales Report for Holiday Season Due

Investors will get some key economic data on Tuesday, with the delayed report on retail sales for December due out this morning at 8:30 a.m. ET. The report will provide detail on how much Americans spent during the holiday shopping season amid lingering inflation pressures. The NFIB small business optimism index and import price index reports for December are also scheduled to be released this morning, along with the employment cost index for the fourth quarter. The January jobs report and a report on consumer price inflation, due to be released on Wednesday and Friday, respectively, are the big data events of the week. The Federal Reserve is keenly focused on the labor market and inflation as it considers its next moves on interest rates.

Coca-Cola Stock Drops as Sales Fall Short of Estimates

Shares of The Coca-Cola Company (KO) are losing ground after the company’s latest earnings report failed to impress. The beverage giant reported $11.8 billion of revenue, below Wall Street forecasts, along with adjusted earnings per share of 58 cents, just 1 cent above the analysts’ consensus compiled by Visible Alpha. Analysts said ahead of the report that Coca-Cola’s stock faced a hurdle given its high valuation compared to peers. The stock closed at a record high just above $79 on Friday as investors have rotated into more-defensive consumer staple shares amid volatility in tech stocks. Coca-Cola shares were down 4% at around $75 in recent premarket trading. The company is preparing to transition to a new CEO at the end of March, with company veteran and current COO Henrique Braun succeeding James Quincey.

Robinhood Set to Report Earnings After Closing Bell

Retail trading platform Robinhood (HOOD) is set to report fourth-quarter results after the market closes Tuesday. The online brokerage’s stock has been volatile lately, sinking over the last few weeks because of its connection to bitcoin as it expands its efforts in cryptocurrency, though shares have recovered some ground in the last few days. Analysts expect Robinhood to report $1.34 billion in revenue, a record, with earnings of 62 cents per share. The company has expanded its efforts beyond its original mission of bringing stock trading to regular people, with projects in cryptocurrency, credit cards, and the booming world of prediction markets. Robinhood shares were down about 1% ahead of the opening bell.

Spotify Stock Surges On Strong Results

Shares of Spotify Technology (SPOT) soared after the music and podcast streaming service reported fourth-quarter results that topped estimates. Revenue of 4.53 billion euros ($5.39 billion) came in narrowly above estimates, while earnings per share of 4.43 euros, and the company’s 751 million monthly active users and 290 million premium subscribers, all came in well above the analyst consensus compiled by Visible Alpha. Co-CEO Alex Norström said Spotify recorded its largest ever quarterly net additions in monthly active users, with 38 million new users added. Spotify shares were up more than 8% premarket, after being down nearly 30% since the start of the year entering Tuesday.

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