The future is mixed, as the UAW strikes show signs of recovery in the Chinese economy

Stocks premarket big moves

10 minutes ago

Beneficiaries:

• Unity Software ( U ): Shares of the software company rose 3%, recovering slightly from a 2-day, 8% drop after its new fee charged to developers using its platform, the Unity Engine.
• Arm Holdings Plc. (ARM): Shares of the chip designer, which rose 25% yesterday in its first day of trading on the Nasdaq, rose 3%.
• Moderna Inc. (mRNA): The vaccine maker’s shares rose nearly 1% after UK regulators approved its updated Covid-19 vaccine.

Losers:

• Adobe Inc. (ADBE): Shares of the design software maker fell more than 3% in its third quarter despite beating Wall Street’s top and bottom line estimates.
• ASML Holding NV (ASML): Shares in the maker of advanced semiconductor manufacturing equipment lost more than 3% as leading chipmaker Taiwan Semiconductor (TSM) and other suppliers delayed equipment deliveries. Rivals Applied Materials ( AMAT ) fell more than 2%.
• Ford Motor Co. (F): Shares of the automaker fell 1% after the United Auto Workers (UAW) union called for targeted strikes against General Motors (GM), and Stellantis NV (STLA). New electric vehicles and will significantly raise future costs.

5 things to know before the market opens

40 minutes ago

Here’s what investors need to know to start their day:

1. For the first time, the United Auto Workers union has launched a simultaneous strike against the Big Three Detroit auto companies, with nearly 12,700 workers planning to stop work at the targeted facilities.
2. Arm Holdings ( ARM ) shares rose nearly 2% in pre-market trading after the British chip designer’s initial public offering was successful, with the company’s first day of trading up as much as 25%.
3. Shares of used-car dealers rose as talks stalled between auto workers and Detroit automakers.
4. Content creation software Adobe ( ADBE ) reported earnings slightly ahead of analyst estimates as it promoted a new suite of artificial intelligence (AI) tools for its products.
5. The preliminary September reading of the Michigan Consumer Sentiment Index is forecast to drop to 69.2 from 69.5 a month earlier when it is released at 10 a.m. ET.

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— Terry Lane

Stock futures were mixed ahead of the market open

1 hour 3 minutes ago

Futures contracts linked to the Dow Jones industrial average rose 0.2% in premarket trading on Friday.

S&P 500 futures traded 0.1% higher.

Nasdaq 100 contracts fell about 0.1%.