Wall Street pointed higher today, the Associated Press reports, with futures for the S&P 500 rising 0.3% and futures for the Dow Jones Industrial Average ticking up 0.2%.
Rivian shares tumbled more than 7% after the electric truck and SUV maker lowered its production guidance for the year due to a parts shortage. Rivian said the disruption began in the third quarter and has since gotten worse.
Spirit Airlines shares plunged 33% after The Wall Street Journal reported that the budget airline was exploring bankruptcy protection. Spirit shares have fallen to all-time lows just above $2 in the wake of its failed merger with JetBlue earlier this year. They were poised to open below $2 when markets opened.
Benchmark U.S. crude added $1.17 to $74.68 per barrel. Brent crude, the international standard, jumped $1.16 to $78.78 per barrel. On Thursday, Brent leaped 5% after starting the week below $72. It’s potentially on track for its biggest weekly percentage gain in nearly two years.
In currency trading, the U.S. dollar slipped to 146.59 Japanese yen from 146.83 yen.
