Stock futures are wavering after the S&P 500 reached its 55th record close of the year. Here’s what we’re watching ahead of Friday’s action.
-
Snap
SNAP -0.71%
shares plummeted 21% premarket. The social-media company said it expects growth to slow in the current quarter because of recent changes to
Apple
AAPL 0.15%
‘s App Store privacy rules.
Snap said it expects growth to slow due to Apple’s new App Store privacy rules.
Photo:
Richard Drew/Associated Press
- Other big names in social media were dragged down as well.
Facebook
FB 0.32%
fell 4.1% premarket, and
Twitter
TWTR -0.61%
shed 4.5%.
- The SPAC that agreed to merge with Donald Trump’s social-media company,
Digital World Acquisition,
was extending its surge premarket. The stock added 65% ahead of Friday’s opening bell, after having more than quadrupled in value during Thursday’s session.
-
Intel
INTC 1.14%
shares dropped 9.9% premarket. The semiconductor company disappointed investors even as it posted stronger third-quarter earnings, as component shortages weighed on computer shipments and China’s crackdown on gaming hurt server-chip sales.
-
American Express,
AXP -1.19%
Honeywell
HON 0.39%
and
HCA Healthcare
HCA 3.64%
are due to report earnings before the opening bell.
-
Zoom Video Communications
ZM -0.34%
gained 2.4%. The stock got a ratings upgrade from JPMorgan.
-
Chipotle Mexican Grill
CMG 1.14%
edged down 0.4% after the burrito chain said higher menu prices helped boost its profit as it deals with increased labor and commodity costs.
-
Mattel
MAT 2.26%
shot 6.3% higher. The toy maker raised its full-year sales outlook after posting better than expected third-quarter results, with strong sales continuing for key brands like Barbie and Hot Wheels.
-
Whirlpool
WHR -0.64%
slid 3.3% after the appliance maker’s chief executive said shortages of dishwashers and refrigerators are likely to stretch well into next year, as supply-chain problems constrain production and consumer demand remains strong.
Chart of the Day
- A key measure of investors’ inflation expectations has climbed in recent weeks, adding fuel to concerns about lasting pressures on consumer prices.
Write to James Willhite at james.willhite@wsj.com
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