Apple Stock Rises, Nikola Slides, and the Dow Is Rising

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Strong retail sales figures from China, which showed sales at precoronavirus levels, helped to push up U.S. stocks premarket Tuesday. Wall Street also has its eye on industrial production figures for the month of August, which are due to be released at 9:15 a.m. ET. The Federal Reserve’s two-day meeting also kicks off today.

Futures for the

Dow Jones Industrial Average

advanced 200 points, or 0.7%.

S&P 500

futures gained 0.8% and

Nasdaq Composite

futures were up 1.2%. Oil also advanced, with West Texas Intermediate crude climbing 1.5% and Brent crude gaining 1.2%.

Apple

(ticker: AAPL) shares were up 2% premarket ahead of the company’s product launch event, where it is expected to unveil new Apple Watch models and possibly a new iPad.

Nikola

(NKLA) shares slid 5.8% premarket despite soaring 11.4% Monday after the company released a report that refuted claims made by a short seller last week.

Citigroup

(C) shares gained 1.2% following reports that it plans to resume layoffs, which will affect less than 1% of the company. The move comes as Citigroup is finding itself under pressure to improve its risk management systems.

Lennar

(LEN) shares slid 3.8%, despite reporting better-than-expected earnings due to a booming housing market. The company will host a conference call at 11 a.m. ET on Tuesday.

Strong retail sales figures from China, which showed sales at precoronavirus levels, helped to push up U.

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SOURCE: https://www.w24news.com/news/apple-stock-rises-nikola-slides-and-the-dow-is-rising/?remotepost=275178

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