Palantir banal jumped connected a U.S. Army contract; Airlines are slipping arsenic substance costs surge
Updated Oct. 6, 2021 9:41 americium ET
Stocks dropped aft the opening bell, with exertion shares starring losses arsenic enslaved yields extended rises. Here’s what we’re watching arsenic Wednesday’s trading heats up.
- Palantir Technologies jumped 7% successful aboriginal trading. The data-software institution said it was selected for a U.S. Army quality programme contract.
- Facebook shares ticked 1.1% little aft the institution spent a time successful the headlines amid a whistleblower’s testimony on Capitol Hill and a widespread outage of its services.
- But the downdraft successful large tech shares was hitting astir of the giants. Microsoft slipped 0.8% , Apple shed 1.4%, Google-parent Alphabet fell 0.8% and Netflix gave up 0.4%.
- Cryptocurrencies turbo-charged by Tesla CEO Elon Musk got different boost Wednesday. The token Shiba Inu gained 48% implicit the erstwhile 24 hours, adding to a days-long rally aft Mr. Musk posted a caller photograph of his Shiba Inu puppy named Floki connected Monday. The coin present has a marketplace worth of $9 billion, making it the twentieth largest cryptocurrency, according to CoinMarketCap.com. Dogecoin, a favourite of Mr. Musk’s, besides roseate 3% implicit the erstwhile 24 hours.
- Shares of American Airlines Group lost 2.5% and Delta Air Lines shed 1.7%, weighed down by concerns astir substance costs and a slowing economical growth.
- Acuity Brands soared 13% aft the industrial-technology institution said its nett for the fiscal 4th fourth roseate arsenic income benefited from improved work levels and an improving economy.
- Vaccine makers Moderna and Novavax look acceptable to stay stuck successful the doldrums that began aft Merck’s palmy trial of its Covid-19 treatment. Novavax dropped 3.1% and Moderna fell 4%. Pfizer was besides down, by 0.8%.
- Business-development institution Saratoga Investment ‘s banal nudged up 1.8% aft it reported grounds repayments during the 2nd quarter.
- Levi Strauss will springiness an net update aft the close.
Chart of the Day
- Silver prices conscionable wrapped up their worst four-month agelong since November 2014, dragged down by expectations for higher involvement rates and a slowdown successful manufacturing activity.
Write to James Willhite astatine james.willhite@wsj.com
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