Today’s Stock Futures: Live Updates

24 minutes ago

Disney’s plan to spend $60 billion on parks and rides fell 3%

Disney shares fell 3% in early morning trading after revealing plans to nearly double planned investment in its parks and cruises business, according to securities filings released Tuesday.

The entertainment giant said it plans to invest about $60 billion in the segment over the next decade.

– Lillian Rizzo, Samantha Subin

37 minutes ago

Barclays Initiates Coverage of Supermicro, Highlights AI Exposure

Barclays says Supermicro stock will rise thanks to exceptional artificial intelligence exposure.

The firm initiated coverage on the computer technology stock with an Overweight rating on Tuesday.

“On the back of a compelling AI investment trend, we believe SMCI’s strong AI server offerings will help it capitalize on the growing opportunity in this area, leading to strong revenue growth over the next few years,” analyst George Wang said.

CNBC Pro subscribers can read the full story here.

– Brian Evans

An hour ago

Stocks open lower

Stocks fell as trading opened.

The Dow and S&P 500 were each down 0.2% after 9:30 a.m. ET. The Nasdaq composite fell 0.3%.

– Alex Haring

An hour ago

Central Banks play an important role throughout the world

It’s been a big week for central banks — both in the U.S. and abroad.

The Federal Reserve begins its two-day policy meeting on Tuesday. Traders are pricing in a 99% probability that the central bank will avoid a rate hike when it announces policy on Wednesday, according to CMEGroup’s FedWatch tool, which measures prices in Fed funds futures. The central bank will also release economic forecasts on Wednesday.

Several central banks are also expected to announce policy decisions this week. Here is a list of countries scheduled to release results within 36 hours of the Fed’s announcement at 2pm ET on Wednesday, according to Bespoke Investment Group:

  • Brazil
  • Indonesia
  • Japan
  • Norway
  • South Africa
  • Sweden
  • Switzerland
  • Taiwan
  • Turkey
  • United Kingdom
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Sam Stovall, chief investment strategist at CFRA Research, said investors around the world were “waiting on the edge to find out what their central banks might do.”

– Alex Haring

2 hours ago

Rocket Lab shares plunged after its first launch failure in more than two years

Rocket Lab shares dropped in premarket trading Tuesday morning after the space company suffered its first launch failure in more than two years. The stock was last down about 20%.

The company’s 41st Electron rocket launch — lifting off from New Zealand and carrying the Acadia 2 satellite to San Francisco-based Capella Space — failed about 2 minutes and 30 seconds into the flight. The rocket lab said it has begun working with the Federal Aviation Administration to investigate the root cause of the problem, which occurred when the rocket’s first and second stages separated.

The space stock is set to open below $5. Shares closed Monday at $5.04.

Check out the chart…

Rocket Lab USA 1 Day Stocks

– Michael Sheets, Sarah Min

2 hours ago

Stocks that make the biggest moves in the premarket

Check out the companies making headlines ahead of time:

  • Cruise ships both gained about 2% after improvements by Carnival, Royal Caribbean Group – Trust. The Wall Street firm, which moved Royal Caribbean from hold to buy and put Carnival on hold for sale, noted that the outlook for 2024 and 2025 was “exceptionally strong.” Trust maintained its hold rating on Norwegian Cruise Lines, which was up more than 1% in premarket trading.
  • Deere & Company, CNH Industrial – Both stocks fell in the premarket after Evercore ISI cut each to in-line prices, citing agricultural production cuts. Deere fell 1.4%, CNH fell 1.2%.
  • Starbucks — Shares fell 1.2% after TD Cowen downgraded the coffee company on a “worrisome” macro backdrop in China. The company believes that slower consumer spending in China will hit stock growth and hurt Starbucks’ multiples.
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Read the full list here.

– Sarah Min

2 hours ago

DD Cowen downgrades Starbucks amid China headwinds

Starbucks shares fell more than 1% before the hour after TD Cowen said slower consumer spending and macroeconomic interventions could hurt the China coffee chain.

The company downgraded the stock to market activity on Tuesday.

“While we forecast 2023-25E EPS to be achievable, the multiple is not discounted against 5Y in our view. [average] “We expect the stock to be in a holding pattern,” said analyst Andrew Charles. “We like the long-term story, but move sideways as we monitor China’s macro and competitive dynamics.”

CNBC Pro subscribers can read the full story here.

– Brian Evans

3 hours before

Stocks were closed on Monday

All three major indexes ended the session little changed on Monday as investors braced for the Federal Reserve’s meeting starting on Tuesday.

The Dow ended the session 0.02% higher, while the Nasdaq composite rose just 0.01%. Meanwhile, the S&P 500 was little changed with a gain of 0.07%.

– Alex Haring

7 hours ago

European markets are opening less

European markets opened lower on Tuesday as investors awaited the start of the US Federal Reserve’s two-day monetary policy meeting.

The pan-European Stoxx 600 index opened 0.2% lower, with sectors temporarily trading in positive and negative territory. Health-care stocks were the biggest losers, down 0.7%, while travel and leisure stocks rose 0.2%.

– Hannah Ward-Glenton

15 hours ago

Square CEO leaving the company

15 hours ago

Kathy Wood is standing by her radical call for Tesla

ArcInvest’s Kathy Wood reiterated her big bullish call on her EV darling Tesla, which has seen it hit $2,000 in five years thanks to the robotaxi boom.

“One-third of our estimate is related to electric vehicles,” Wood said on CNBC’s “Fast Money” Monday. “Two-thirds of our assessment is autonomous [driving] and autonomous taxi platforms.”

Woods’ bear case on Tesla is a $1,400 target by 2027 and his bull case is $2,500. Tesla is the largest holding in its flagship Ark Innovation ETF ( ARKK ) fund with an 11.5% weighting. Shares of Tesla have more than doubled this year after losing 65% in 2022.

– Yun Li

16 hours ago

Instacart priced the IPO at $30 per share

Instacart priced its IPO Monday evening at $30 per share, valuing the grocery delivery company at roughly $10 billion.

The company is set to debut on the Nasdaq on Tuesday under the ticker symbol “CART.”

That puts the offer at the upper end of the expected $28 to $30 per share range.

– Ari Levy, Samantha Subin

16 hours ago

Stock futures have changed little

Stock futures were little changed on Monday evening as Wall Street awaited the start of the Federal Reserve’s policy meeting.

Futures linked to the Dow Jones industrial average added 13 points, or 0.03%, while S&P 500 futures and Nasdaq 100 futures added 0.02% and 0.06%, respectively.

– Samantha Subin

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