Here’s what we’re watching ahead of the opening bell on Wednesday.
—U.S. stock futures edged lower Wednesday ahead of key inflation data and a vote by lawmakers on impeaching President Trump during his final week in office. Contracts linked to the S&P 500 and the Nasdaq-100 were both down 0.2%.
What’s Coming Up
The Fed releases its beige book report on U.S. economic conditions at 2 p.m. ET.
Market Movers to Watch
‘s shares climbed 3.3% ahead of the bell after it reported earnings that beat expectations, though the effects of the pandemic on orders and housing starts dragged on revenue.
shares added 1% premarket after the credit-card giant abandoned its $5.3 billion planned acquisition of financial-technology firm Plaid amid a Justice Department antitrust lawsuit that challenged the deal.
shares drove 3.4% higher premarket after having closed at a record high on Tuesday.
Marathon Patent Group
‘s shares dropped more than 19%. It announced a $250 million stock offering that it said would be used to fund operations and expansion.
—Los Angeles-based electric-vehicle company
‘s shares shot more than 24% higher premarket.
—Covid-19 vaccine maker
‘s stock dropped 2.6% premarket.
Shares of blank-check company
ArcLight Clean Transition
more than doubled on Tuesday to close at $25.20. The jump came after it said it had agreed to acquire and take public electric vehicle company Proterra in a deal that gives it an enterprise value of about $1.6 billion.
Chart of the Day
Sudden excitement about the flurry of startups going public through blank-check companies is enriching some of the biggest players in finance, particularly hedge funds.