Dow Jones Today: Stock Futures Slip as Oil Continues to Rise

Stocks Making the Biggest Moves Premarket

13 minutes ago

Gainers:

• Micron Technology Inc. (MU): The chipmaker’s shares gained nearly 2% after it was upgraded by analysts at Deutsche Bank, who see Micron benefiting from an end to the microchip downcycle. 
• GSK Plc (GSK): Shares of the British drug maker gained more than 1% after the FDA approved its drug Ojjaara for use as a treatment for a rare type of bone marrow cancer. 
• DoorDash Inc. (DASH): Shares of the food delivery platform gained more than 1% after it was upgraded by Mizuho analysts, who see moderating food inflation and resilient consumer spending boosting key metrics throughout the year.

Losers: 

• Arm Holdings Plc (ARM): Shares of the semiconductor designer lost more than 3% after gaining nearly 20% in its first two days of trading last week. 
• Stellantis NV (STLA): The car maker’s shares lost about 2% after the United Auto Workers (UAW) rejected its offer of a 21% pay raise.
• Paypal Holdings Inc. (PYPL): Shares of the payments company fell 1% after MoffettNathanson downgraded the stock to market perform from outperform and lowered its price target. Analysts wrote that while they “are excited for the fresh start at PayPal under new CEO Alex Chris,” they see profit growth remaining lackluster.

5 Things to Know Before Markets Open

32 minutes ago

Here’s what investors need to know to start their day:

1. Shares of the “Big Three” Detroit car makers were mixed as negotiations with the United Auto Workers (UAW) resumed over the weekend amid a limited strike against the companies.
2. Chevron (CVX) shares moved up 0.2% in pre-market trading after it was able to resume full production at one of its liquefied natural gas (LNG) export facilities in Australia, despite a strike from union workers.
3. Shares of Clorox (CLX) shares fell 2.2% in pre-market trading after it said a cybersecurity attack on the company would have a “material” impact on its fiscal first-quarter results.
4. Shares of British chip designer Arm (ARM) traded 1.4% lower in pre-market trading after it gave up some of its gains from its blockbuster initial public offering last week.
5. The NAHB/Wells Fargo Housing Market Index is expected to decline to a reading of 49.5 in September from 50 in August when it is released at 10 a.m. ET.

-Terry Lane

Futures Slip As Bond Yields, Oil Rise

1 hour ago

Futures contracts connected to the Dow Jones Industrial Average were down 0.1% in premarket trading Monday.

S&P 500 futures contracts lost 0.2%.

Nasdaq 100 futures fell 0.3%.