Wall Street was mixed early today, the Associated Press reports, as corporate earnings streamed in and hopes dwindled for a March interest rate cut. Futures for the S&P 500 ticked up less than 0.1% before the bell, while futures for the Dow Jones Industrial Average shed less than 0.1%.
In equities trading, Tesla continued its slide, falling more than 2% in premarket trading. Elon Musk’s electric car company has lost more than a quarter of its value in the first five weeks of 2024 as recalls mount and doubts on Wall Street grow about Tesla’s future earnings potential.
FMC tumbled 14% in premarket after the Philadelphia chemical maker’s sales and profit fell short of Wall Street expectations.
Streaming music and podcast platform Spotify jumped more than 6% after it reported stronger-than-expected growth in its subscriber base, even as revenue missed analyst targets.
In other trading today, U.S. benchmark crude oil gained 66 cents to $73.44 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, was up 71 cents at $78.70 per barrel.
The dollar slid to 148.47 Japanese yen from 148.68 yen.
