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Futures Slide Ahead Of Data Dump, Yuan Rampage Continues

U.S. stock index futures ticked lower ahead of an economic data dump that will reveal the latest durable goods, cap goods orders, jobless claims, GDP, PCE, and Personal Consumption data, amid fears that signs of an improving economy would lead the Federal Reserve to start tapering following comments on Wednesday that the Fed’s Quarles is open to talk about adjusting the Fed’s bond purchases. At 7:15 a.m. ET, Dow e-minis were up 3points, or 0.01%, and S&P 500 e-minis were down 6.50 points, or 0.16%. Nasdaq 100 e-minis were down 45.5 points, or 0.33%, as tech giants Apple, Amazon.and Tesla slipped between 0.2% and 0.7%.

Meme favorites GameStop and AMC dipped in premarket trading after soaring for the past three days. Here are today’s notable premarket movers:

  • Bitcoin mining company Bit Digital (BTBT) jumps 26% premarket, indicating an extension of Wednesday’s rally after the appointment of Brock Pierce, chairman of the Bitcoin Foundation, to its advisory board and leadership team.
  • Snowflake (SNOW) drops 4.4% in premarket trading after the software provider’s earnings report. Guidance for the year undershot expectations set by a 1Q revenue beat, according to Barclays analysts.
  • Vir Biotechnology (VIR) shares extend gains in premarket trading after the FDA approved an emergency use authorization for sotrovimab to treat mild-to-moderate Covid-19.
  • Vertex Energy (VTNR) doubles in premarket trading after it agreed to buy an Alabama refinery from Shell for $75 million in cash plus the value of the hydrocarbon inventory.
  • Zosano Pharma (ZSAN) surges in U.S. premarket trading after announcing clinical data which supported evidence that its drug Qtrypta has potential for being a long-term option for patients with migraines if approved.

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