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The future of US stocks fell on Wednesday morning, as Wall Street was concerned about continuing tensions between the US and China, as well as continuing fears about the coronavirus and the cost it has affected. to the economy.
On the US-China front, tensions escalated after the US State Department ordered China to close its consulate in Houston, saying the move was made to protect American intellectual property and information. deprived of citizens. China promised retaliation.
Dow Jones Industrial Average futures were down 60 points, or 0.2%, matching the loss of percentage points in S&P 500 futures. Nasdaq compound futures were up 0.2%.
Oil prices also fell early Wednesday morning, with West Texas Intermediate, or WTI, falling 1.6% to $ 41.24 per barrel. The price of Brent crude fell 1.4% to $ 43.70 per barrel.
The shares of Pfizer (ticker: PFE) and BioNTech SE (BNTX) appeared in the premarket after obtaining close to $ 2 billion from the US government to produce and deliver 100 million doses of its coronavirus vaccine. . The government has the option to purchase an additional 500 million doses. Pfizer shares rose 4.7% while BioNTech shares rose 6.1%.
Shares in Best Buy (ABY) rose 5.1% after management reported an increase in sales during the previous quarter, as households rushed to equip their homes to work and play during orders to stay in House. Those gains even continued in the current quarter, the company said in reporting its financial results on Tuesday night.
Snap (SNAP) shares fell 7% despite the company behind Snapchat delivering second-quarter results that were largely in line with analyst targets on Tuesday night. Wall Street appears to have been scared when the company warned that third-quarter sales growth would slow down.
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