Stock futures rose in premarket trading on Tuesday, with meme stocks in focus as markets await earnings from GameStop and the trading debut of Donald Trump’s Truth Social.
Trump Media & Technology Group, the parent company of Donald Trump’s Truth Social, is set to begin trading under the ticker “DJT” on Tuesday after merging with blank check company Digital World Acquisition Corp. (DWAC). Markets are also awaiting quarterly earnings from the original meme stock, GameStop (GME), after the bell.
Bitcoin held above $70,000 after surging yesterday from less than $67,000. The dollar inched lower while gold climbed to about $2,200.
Stocks slipped yesterday, giving up some of last week’s gains that followed the Federal Reserve’s forecast for three interest rate cuts this year.
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Gains:
- Trump Media & Technology Group Corp. (DJT): Shares of Truth Social parent company, which previously traded as Digital World Acquisition Corp. (DWAC), soared more than 20% ahead of its first day of trading under its new name.
- Krispy Kreme Inc. (DNUT): Shares of the donut maker jumped more than 18% after it inked a deal to have its donuts sold in McDonald’s locations nationwide by the end of 2026.
- Reddit Inc. (RDDT): Shares of the newly public social media company surged 10% after jumping 30% yesterday as options on the stock began trading.
- McCormick & Co. Inc. (MKC): Shares of the spice maker rose more than 6% after it reported better-than-expected earnings of 63 cents per share for the three months ended Feb. 29.
- United Parcel Service Inc. (UPS): Shares of the delivery company rose more than 1% after it released long-term financial targets, including a goal of consolidated revenue of between $108 billion and $114 billion in 2026.
Losses:
- Baidu Inc. (BIDU): Shares of the Chinese internet company slipped 1% after gaining more than 3% yesterday amid reports Apple was in talks to use its artificial intelligence on Chinese iPhones.
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Futures contracts connected to the Dow Jones Industrial Average were up 0.2% in premarket trading on Tuesday.
S&P 500 futures were 0.4% higher.
Nasdaq 100 futures traded 0.5% higher about an hour before markets opened.
