Stock futures are wavering after closely watched consumer-price data showed inflation accelerated slightly in September, and the first major earnings reports of the season rolled in. Here’s what we’re watching before Wednesday’s open.
- JPMorgan Chase JPM -0.77% and BlackRock BLK -0.42% kicked off third-quarter earnings, and shares of both were inching higher premarket, by 0.5% and 1.5% respectively. BlackRock delivered a profit beat for the third quarter as its assets under management climbed more than 20%. JPMorgan’s earnings for the period rose 24%.
- Meme stock Koss KOSS 24.95% was bouncing back to life premarket with a 12% jump. Trading in the headphone maker’s stock had been briefly halted just before Tuesday’s closing bell amid surging volatility.
- Plug Power PLUG 7.70% shares jumped 6.8% ahead of the bell. The fuel-cell power systems company’s stock got a ratings upgrade from Morgan Stanley MS 0.50% and a price target of $40 a share. It closed on Tuesday at $29.78.
- Delta Air Lines DAL 0.81% shares slipped 1.3% premarket. the carrier posted a quarterly profit as travel demand began to recover in recent weeks, though the company said it faces pressure from rising fuel prices.
- Smart Global Holdings SGH 0.78% shares climbed 11% premarket after it reported record quarterly and annual revenue.
- Pinnacle Financial Partners PNFP 1.26% reported an increase in earnings per share during the recent quarter from a year ago. Its stock added 2% off hours.
- Southwest Airlines LUV 0.99% pilots said the airline’s weekend meltdown that led to the cancellation of more than 2,000 flights reflected longer-running fatigue and frustration among its crew, leaving it vulnerable to further outages.
- Hasbro HAS -0.55% Chief Executive Brian Goldner died Tuesday, just days after he took a leave of absence for medical care.
- Supply-chain management software company E2open Parent Holdings ETWO 0.18% is due to report earnings after the close.
Chart of the Day
- Seniors and other Americans receiving Social Security benefits in 2022 are likely to see the largest increase in their payments in decades, reflecting surging inflation during the pandemic.
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