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Stock futures pointed to a weaker start for Wall Street on Monday as investors anticipated U.S. inflation data this week and the start of the second-quarter earnings season.
These stocks were set to move on Monday:
American certificates of deposit of
Ali Baba
(BABA) fell 1.2% in premarket trading. U.S.-listed shares of the Chinese e-commerce giant jumped 8% on Friday after Chinese financial regulators fined Alibaba subsidiary Ant Group nearly $1 billion. The move signals that the regulatory pressures on Ant Group and the entire Chinese tech sector may finally be coming to an end. Ant Group, meanwhile, said it would buy back up to $6 billion in shares.
Metaplatforms
(META) fell 0.4% as Threads, the company’s microblogging app and Twitter rival, surpassed 100 million users since its launch on Wednesday.
Icahn Enterprises
(IEP) rose 4.6% after the Wall Street Journal reported that activist investor Carl Icahn and major banks finalized amended loan agreements that untie his personal loans from the company’s stock price. a key risk that was raised by short-seller Hindenburg Research.
Reports on the results are expected Monday from
Helen of Troy
(HELE), which sells products such as Revlon cosmetics and Pur water filters,
WD-40
(WDFC), the janitorial products company, and membership-based retailer
smart price
(GMTP).
Earnings season kicks into high gear later in the week with reports of
PepsiCo
(PEP) and
Delta Airlines
(DAL) Thursday, and
JPMorgan Chase
(JMP),
Wells Fargo
(WFC),
Citigroup
(VS),
UnitedHealth
(UNH), and
black rock
(BLK) Friday.
Write to Joe Woelfel at joseph.woelfel@barrons.com