Tesla, General Motors, Lululemon, AppLovin: Stocks to watch
Stocks fell premarket after the Federal Reserve’s favorite inflation measure came in slightly hotter than expected. Futures linked to the S&P 500, the Nasdaq 100, and the Dow Jones Industrial Average all pointed to a lower open on Friday.
General Motors (GM) and some other automaker shares extended declines overseas and premarket in the wake of Trump’s imposition of 25% tariffs on all imported cars, trucks, and auto parts, announced Wednesday evening.
The core PCE picked up to 0.37% month-on-month in February — faster than the expected 0.30% — from 0.30% in January. The year-over-year increase accelerated to 2.8% from an upwardly revised 2.7%. Monthly personal consumption grew a faster-than-projected 0.43% while income gains unexpectedly sped up to 0.80%.
Economic indicators have been a mixed bag in recent weeks, with surveys showing both consumers and businesses feeling anxious about their future prospects, while actual data continues to point a strong labor market and ongoing growth — except for manufacturing.
Stocks ended lower yesterday as investors’ concerns about Trump’s trade war outweighed a report showing new jobless claims held steady last week and an upward revision of fourth-quarter GDP.
Here are some stocks to watch today:
AppLovin
AppLovin (APP) stock jumped 9% in pre-opening trading, rebounding from Thursday’s 20% decline prompted by the publication of a report by short seller Muddy Waters.
General Motors
General Motors fell 1.2% premarket, extending declines for a second day after President Donald Trump announced 25% tariffs on all imported cars, trucks and auto parts. Stellantis (STLA) fell 1.6% before the bell, while Ford (F) edged higher.
Lululemon
Lululemon’s (LULU) stock fell 11% premarket after the athleisure wear maker’s projections for full-year sales and profit missed analyst expectations. The company has scrambled to update its product line to compete with trendier brands, Reuters (TRI) reported.
Tesla
Tesla’s (TSLA) stock advanced 0.5% in early trading after analysts called Elon Musk’s automaker the clear winner from Trump’s tariffs given its more-localized production — and despite Musk’s own assertion that the company won’t be unscathed by the duties.