Shares are expected to open lower.
Parliament Speaker Nancy Pelosi and Finance Minister Steven Mnuchin plan to resume talks to stimulate the coronavirus on Wednesday. On Tuesday, White House Chief of Staff Mark Meadows told CNBC that the two sides had made “good progress” but “still had a long way to go” to reach an agreement.
However, Goldman Sachs economist Alec Philips noted that “the biggest problems remain unresolved and the deal does not seem particularly close.” And even if the White House and Democrats make a deal, Senate Majority Leader Mitch McConnell will have to submit the bill to the Senate seat on time.
Stocks with larger movements in the premarket:
Netflix (NFLX) – Netflix reported a quarterly earnings of $ 1.74 per share for its most recent quarter, lacking the consensus estimate of $ 2.14 per share. However, revenues were above Wall Street forecasts. In addition to losing profits, Netflix shares have also been squeezed by the weakest subscriber growth in four years. The shares lost 5% in pre-trading.
iRobot (IRBT) – iRobot reported quarterly earnings of $ 2.58 per share, well above the forecast of $ 1.00 per share. Revenues also appeared above, thanks to the high demand for the company’s Roomba robotic vacuum cleaners.
AutoNation (AN) – The retailer reported a quarterly earnings of $ 2.38 per share, well above the expected $ 1.65 per share. Revenue was also above forecasts, and AutoNation increased its share repurchase authorization to $ 500 million. Shares jumped 8% in pre-trading.Source: Bloomberg Pro Terminal
Chart: Used with permission from Bloomberg Finance L.P.
Junior Trader Mert Mustafa