Text size
Wall Street has slumped in September.
Dreamstime
Stock futures fell Monday as Wall Street begins the last week of September, a month that so far has seen the
S&P 500
drop 4.2% and the
Nasdaq Composite
slump 5.9%. Investors will be keying in on U.S. inflation data at the end or the week and monitoring negotiations in Congress over avoiding a government shutdown.
These stocks were poised to make moves Monday:
Striking writers reached a tentative agreement with Hollywood studios that would end a strike that lasted nearly five months. The Writers Guild of America announced the three-year deal in a statement: “We can say, with great pride, that this deal is exceptional—with meaningful gains and protections for writers in every sector of the membership.” Media stocks rose in premarket trading.
Paramount Global
(PARA) rose 2.9%,
Warner Bros. Discovery
(WBD) jumped 3.6%,
Netflix
(NFLX) rose 1%,
Walt Disney
(DIS) was up 0.6%, and
Amazon.com
(AMZN) gained 0.5%.
Amazon
,
meanwhile, will be investing up to $4 billion in artificial-intelligence company Anthropic. Amazon will be taking a minority stake in Anthropic. Amazon’s cloud customers will get early access to Anthropic’s technology through Amazon Bedrock, the company’s AI platform for businesses, and Amazon Web Services will become Anthropic’s primary cloud provider.
HP Inc.
(HPQ) declined 2.5% in premarket trading to $26.10 after Warren Buffett’s
Berkshire Hathaway
(BRK.B) disclosed in filings that it sold 4.8 million shares of the PC and printer maker worth about $130 million in recent days.
Instacart
(CART) rose slightly to $30.04 in premarket trading. Shares of the grocery-delivery app, officially known as Maplebear, were initiated at Wolfe Research on Monday with a Peer Perform rating and a fair value range of $24 to $42 a share. Analysts at BTIG on Friday picked up coverage of Instacart with a Neutral rating. The stock went public last Tuesday at $30 a share and opened for trading at $42. But
Instacart
shares have been falling since their strong trading debut.
Thor Industries
(THO), the recreational-vehicle maker, is scheduled to report quarterly earnings after the closing bell Monday. Reports are expected later in the week from
Costco Wholesale
(CSCO),
Micron Technology
(MU),
Nike
(NKE),
Carnival
(CCL),
Paychex
(PAYX),
Jefferies Financial
(JEF),
Accenture
(ACN),
Jabil
(JBL),
CarMax
(KMX), and
BlackBerry
(BB).
Write to Joe Woelfel at joseph.woelfel@barrons.com
