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Boeing shares are lower in the premarket session.
Scott Olson/Getty Images
Stock futures were lower Monday, extending losses for Wall Street after Federal Reserve Chairman Jerome Powell made hawkish comments Friday about the central bank’s fight against inflation.
Dow Jones Industrial Average
futures and futures for the
S&P 500
were both down 0.8%.
Nasdaq Composite
futures fell 1%.
Here are some of the stocks making notable moves in premarket trading Monday.
Growth companies, such as U.S. tech giants, are more vulnerable to higher interest rates. Tech stocks fell Friday after Powell’s hawkish comments about fighting inflation. Many of the stocks also were poised to open lower Monday, including
Apple
(ticker: AAPL), which was down 1.4% in the premarket session,
Amazon.com
(AMZN), which fell 1.5%, and
Microsoft
(MSFT), which was 1.1% lower. Also,
Alphabet
(GOOGL) fell 1.2% while
Meta Platforms
(META) was 1.3% lower.
The National Aeronautics and Space Administration has scheduled a test launch Monday of its newest rocket. The Artemis I mission is an uncrewed practice run that will launch NASA’s rocket.
Boeing
(BA) is the biggest contractor for the space agency’s Space Launch System program. Shares of
Boeing
were down 1.6% early Monday.
Bitcoin
-related stocks were trading lower Monday after Bitcoin, the largest cryptocurrency, fell below $20,000 for the first time in more than a month.
Coinbase Global
(COIN) fell 3.5%,
Marathon Digital Holdings
(MARA) was down 5.6% and
MicroStrategy
(MSTR) was 5.3% lower.
Dow Inc. (DOW) fell 2.4% after an analyst from KeyBanc downgraded the rating on the stock to Underweight from Sector weight and wrote in a research note that “we expect [fourth quarter 2022] margins and earnings to approach ‘trough’ or ‘recession’ levels, while we move to sub-normalized 2023 estimates.”
Write to Angela Palumbo at angela.palumbo@dowjones.com