Stocks are set for a higher open as investors assess better-than-expected news about retail sales.
Futures on the
Dow Jones Industrial Average
gained 54 points, or 0.15%, while those on the
both rose 0.25%
Retail sales for June rose 0.6% from May, while economists had expected a decline of 0.4%. Sales had fallen 0.7% sequentially in May. Investors want affirmation that economic growth isn’t being meaningfully held back by supply shortages.
“It’s all about retail sales tomorrow,”
founder and chief investment officer at Navellier & Associates said on Thursday.
Here are five stocks making moves in Friday’s premarket action:
Moderna (MRNA) stock rose 7.7% as it will join the S&P 500.
(AA) stock rose 2% after the aluminum producer reported a profit of $1.49 a share, beating estimates for $1.29 a share. Sales were $2.83 billion, above expectations for $2.65 billion.
) stock gained 1.3% after getting upgraded to Outperform from Market Perform at Cowen.
Olin (OLN) stock rose 1.4% after getting upgraded to Buy from Neutral.
(ZTS) stock dropped 1.6%. Raymond James downgraded the shares to Market Perform from Outperform.
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