(9/11) - Wednesday's Pre-Market News & Stock Movers Good Morning StockBoarders! Happy Hump Day! Stock futures fall as traders brace for August consumer inflation report: Live updates U.S. stock futures slipped Wednesday as investors looked toward the August consumer inflation report. Dow Jones Industrial Average futures fell 100 points, or nearly 0.3%. S&P 500 futures and Nasdaq 100 futures each dipped about 0.1%. The CPI report and Thursday’s producer price index could help determine the size of a widely expected rate cut at the end of the Federal Reserve’s two-day meeting on Sept. 18. Economists polled by Dow Jones expect the headline CPI to have risen 0.2% from the previous month and 2.6% from a year earlier. Fed funds futures trading suggests a 69% chance of a 25-basis-point rate cut and a 31% likelihood of a 50-basis-point reduction, according to CME’s FedWatch Tool. “I think what we’re going to see next week is a Fed that gives us a 25-basis-point rate cut because to give us a 50-basis-point cut will set off alarm bells and would also be an admission of guilt,” said Kristina Hooper, chief global market strategist at Invesco, on CNBC’s “Closing Bell.” “I don’t think that the Fed keeping us at very restrictive monetary policy levels for a long time creates damage that is irreparable, but I do believe every day that we have rates at these levels the odds of a recession increase,” Hooper added. STOCK FUTURES NOW: YESTERDAY'S MARKET HEAT MAP YESTERDAY'S S&P SECTORS: TODAY'S ECONOMIC CALENDAR: THIS WEEK'S ECONOMIC CALENDAR: MOST ACTIVE TRENDING DISCUSSIONS (STOCK SYMBOLS ARE CLICKABLE!): DJT Trump Media & Technology Group Corp. GME GameStop Corp ALT Altimmune Inc ENPH Enphase Energy Inc ALB Albemarle Corp ZVRA Zevra Therapeutics Inc FSLR First Solar Inc RUN Sunrun Inc OCCI OFS Credit Company Inc BNB.X Binance THIS WEEK'S IPO'S: THIS WEEK'S EARNINGS CALENDAR: ($GME $ADBE $ORCL $MANU $BIG $RH $SIG $ASO $RBRK $LMNR $PLAY $BSEM $KR $CVGW $ABVX $AVO $WOOF $CGNT $SKIL $CTLP $HEPS $INNV $MTRX $EPM $BIOX $MAMA $OXM $DBI $CMA $CAL $VRA $LSAK $TEN $TKC $MYTE $FARM $IPHA $ISPR $DLNG $ADSE $LOVE $CDMO) THIS MORNING'S PRE-MARKET EARNINGS RELEASES: BEFORE TODAY'S MARKET OPEN: THIS AFTERNOON'S AFTER-HOURS EARNINGS RELEASES: AFTER TODAY'S MARKET CLOSE: YESTERDAY'S ANALYST UPGRADES/DOWNGRADES: YESTERDAY'S INSIDER TRADING FILINGS: (N/A.) TODAY'S DIVIDEND CALENDAR: THIS MORNING'S PRE-MARKET STOCK NEWS MOVERS: source: cnbc.com Trump Media & Technology – Shares slid more than 11% in the wake of the debate between Republican nominee Donald Trump and Democratic Vice President Kamala Harris. Trump Media is majority owned by the former president. Rentokil Initial – Shares plummeted about 20% following the Terminix parent’s profit warning. Rentokil now expects second-half organic sales growth for North America to slow to around 1% due to weaker-than-expected trading in the region in July and August. Shares of fellow pest control company Rollins fell nearly 5% in sympathy. Dave & Buster’s – The entertainment stock popped more than 13% after topping earnings estimates for the recent quarter by 15 cents a share. Revenues came up short of Wall Street’s expectations. GameStop – The video game retailer’s shares plunged more than 10% in premarket trading after the company reported a steep decline in sales. Revenue of $798 million in the latest quarter marked a more than 20% drop from the $1.16 billion in sales a year ago. GameStop also announced an “at-the-market” stock offering of up to 20 million shares. Williams-Sonoma – The home furnisher popped 3% on the heels of a Jefferies upgrade to buy from hold. Jefferies said the company has “hidden gems” within its portfolio and can benefit from even a modest recovery in the housing market. Novartis – U.S.-listed shares of the Swiss pharmaceutical company shed 2% following a downgrade at Bank of America to hold from buy. The bank sees fewer catalysts for growth ahead for Novartis. Viking Therapeutics – Shares jumped mor than 4%. JPMorgan initiated coverage of the biotech company competing in the GLP-1 space with an overweight rating, saying an upcoming data readout in November will be a positive catalyst for the stock. The Wall Street firm issued an $80 price target implying more than 40% upside. Crypto stocks – Stocks tied to the price of bitcoin were under pressure as the price of the flagship cryptocurrency fell slightly overnight, with crypto traders digesting central bank policy in Japan and looked ahead to key U.S. inflation data. Coinbase fell 2%, while MicroStrategy retreated 3%. The biggest bitcoin miners, MARA Holdings (formerly Marathon Digital) and Riot Platforms lost 3% and 1%, respectively, after rallying Tuesday. Morgan Stanley – Shares of the major bank were down more than 1% after Goldman Sachs downgraded the stock to neutral from buy. Goldman said that Morgan Stanley looks expensive relative to its peers. Have a happy trading day to everyone in here on this Wednesday!
