Wall Street drifted modestly lower before the bell today, according to the Associated Press, as markets digested corporate earnings while waiting for an important inflation update from the government coming Friday. Futures for the S&P 500 were essentially flat, while futures for the Dow Jones Industrial Average dipped 0.2%.
Chipmaker Nvidia rose in off-hours trading, taking back more of the losses incurred during a recent three-day stretch in which 13% of its value vanished.
Shares of Rivian soared 37% on news that Volkswagen has agreed to invest up to $5 billion in a new joint venture with the electric vehicle maker.
FedEx jumped 14.6% after it beat Wall Street’s fourth-quarter sales and profit targets, boosted by recent cost-cutting initiatives.
In other dealings early today, U.S. benchmark crude oil picked up 47 cents to $81.30 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, was up 45 cents at $84.67 per barrel.
The dollar breached the 160 yen level, rising to 160.32 Japanese yen from 159.70 yen.
