Wall Street pointed toward gains before the opening bell Tuesday as earnings season winds down during a holiday-shortened trading week, according to the Associated Press. Futures for the S&P 500 and Nasdaq each rose 0.3%, and futures for the Dow Jones Industrial Average ticked up 0.1%.
Southwest Airlines rose 1.9% after the carrier announced that it was eliminating 1,750 jobs, with the focus on corporate offices.
Chipmaker Intel jumped 5.1% in premarket on media reports that rivals Broadcom and Taiwan Semiconductor were looking into acquiring separate divisions of the California company. Broadcom is interested in Intel’s chip-design and marketing business, while Taiwan Semiconductor is eyeing control of some or all of Intel’s chip plants, The Wall Street Journal reported Friday.
Constellation Brands soared 6.9% after Warren Buffett’s Berkshire Hathaway took a more than 3% stake in the New York beverage company. Constellation, whose shares had been down more than 25% this year with President Donald Trump’s tariffs looming, is particularly sensitive to trade issues. It owns the exclusive rights to import Corona and Modelo brand beer to the U.S. from Mexico.
Packaged food giant Conagra tumbled 5.1% after it trimmed its profit guidance due to supply constraints involving problems with frozen chicken and vegetable production.
Benchmark U.S. crude added 35 cents to $71.06 per barrel. Brent crude, the international standard, retreated 17 cents to $75.05 per barrel.
The U.S. dollar strengthened to 151.67 Japanese yen from 151.51 yen.
