A trader works on the floor of the New York Stock Exchange.
Michael Nagle/Bloomberg
Stock futures were trading lower Monday after China cut interest rates following data that showed the world’s second-largest economy slowed in July.
S&P 500 futures were down 0.4% and Dow Jones Industrial Average futures fell 0.5%. Futures for the tech-heavy Nasdaq Composite were 0.2% lower.
These are some of the stocks making moves in premarket trading Monday.
American depository receipts of Li Auto (ticker: LI) fell 6.3% after the Chinese electric-vehicle company guided for lower third-quarter deliveries than analysts expected. ADRs of fellow Chinese electric-vehicle makers also fell with NIO ( NIO
) down 1.8% and XPeng declining 3.7%.
Moderna ’s (MRNA) bivalent Covid vaccine booster for adults aged 18 and older was authorized by a U.K. regulator. The stock fell 0.2%.
Illinois Tool Works (ITW) was 2.2% lower after Deutsche Bank lowered its rating on the industrial products and equipment manufacturer to Sell from Hold.
Peloton Interactive was down 2.5% in premarket trading Monday after jumping 13.6% on Friday. The at-home fitness company said last week it was cutting nearly 800 jobs as part of a strategic overhaul.
Walmart (WMT), Target (TGT) and Home Depot (HD) will report second-quarter earnings results this week, with the reports giving investors some insight into how U.S. retail and the consumer are holding up amid a period of record-high inflation. All three stocks were little changed in the premarket session. Coming into Monday’s session, Walmart shares have declined 8.6% in 2022, Target has fallen 26% and Home Depot has dropped 24%.
Write to Angela Palumbo at angela.palumbo@dowjones.com
Source: finance.yahoo.com