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Stock futures fell to their lows of the day after Federal Reserve Vice Chairman Richard Clarida told CNBC’s Steve Liesman that traders expecting a rate cut could be off. “Market pricing on rate cuts is a little tricky,” Clarida said, noting that he prefers to look at economists’ forecasts over futures markets on Fed rates. Clarida noted the majority of economists do not expect a rate easing soon from the Fed. Fed futures are pricing in about a 50% chance of a rate easing by the Fed through June, according to the CME Group’s FedWatch tool. Dow futures were last down 90 points after being down around 40 points before the Clarida interview.
- Wells Fargo downgraded Advanced Micro Devices to equal weight from overweight
- JPMorgan downgraded Anheuser Busch InBev to underweight from neutral
- Stifel upgraded La-Z-Boy to buy from hold
- Citi upgraded Analog Devices to buy from neutral
- Soc Gen downgraded Workday to sell from hold
- Oppenheimer raised its price target on Home Depot to $288 from $255
- Citi initiated Stanley Black & Decker as buy
Shares of Virgin Galactic vaulted 310% in the past three months and Morgan Stanley says the space tourism stock is due for “a bit of a breather here.” The firm added that “a modest correction is overdue, and frankly, healthy, in our opinion.” Despite the warning, Virgin Galactic shares rose 2% in premarket trading. âSheetz
Shares of Domino’s Pizza rose more than 17% during Thursday’s premarket trading after the company reported fourth quarter earnings that topped analyst expectations. For the quarter the company earned $3.13 per share, compared to consensus estimates of $2.98 per share, according to FactSet. Revenue came it at $1.15 billion, exceeding the expected $1.12 billion. âStevens