U.S. stock futures edged down and bond yields rose in the wake of Jerome Powell’s nomination to continue as Federal Reserve chairman. Here’s what we’re watching ahead of Tuesday’s opening bell.
- Zoom Video Communications dropped almost 9% in premarket trading. Sales growth slowed last quarter as more people returned to the office.
- Urban Outfitters shares tumbled 12% after the clothes company said in-store sales fell in the third quarter.
- Agilent Technologies slipped 3% even though the maker of laboratory equipment posted higher profits in its fourth quarter.
- Royalty Pharma rose 3.1% after the buyer of biopharmaceutical royalties said it had bought additional royalty interests in BCX9930 and Orladeyo from BioCryst Pharmaceuticals.
- Dell Technologies, HP, Abercrombie & Fitch, VMware and Dollar Tree are among the companies reporting earnings.
- Goldman Sachs Group analysts recommended selling shares of Allstate, sending the insurer down 2.7%.
- VTB Capital analysts recommended buying shares of EPAM Systems, boosting the software company 1.8% premarket.
- Aptiv lost 3.1%. Analysts at Barclays, Raymond James and Credit Suisse have raised their stock price target for the maker of auto parts this month.
- PG&E rose 1.9% premarket. Shares of the Californian utility have edged higher since August.
Write to Joe Wallace at joe.wallace@wsj.com
