Dow Futures down nearly 200 points Novavax up more than 6% in premarket trading

2022-05-01 0 By

Top three stock index futures fell slightly, Dow futures down 0.63%, S&P 500 futures down 0.44%, Nasdaq futures down 0.05%;In Europe, Germany’s DAX index was up 0.49% at press time, France’s CAC40 was down 0.01% and Britain’s ftse 100 was up 0.03%.U.S. WTI crude rose 0.16 percent to $87.37 a barrel.Brent crude was down 1.68 percent at $89.12 a barrel.Chinese companies posted pre-market gains, with JD.com up more than 3%, Pinduoduo up 3.6% and Baidu up 1%.Economists expect the MONETARY Policy Committee to raise rates by a quarter of a percentage point on Thursday, taking them to 0.5 per cent.It would be the bank’s first successive rate rises since 2004 as it seeks to steer the economy out of persistently high inflation.The international energy agency, the European energy crisis hit the global natural gas demand growth After European gas demand growth of 5.5% in 2021, is expected to decline 4.5% high gas prices more attractive to make coal for power generation global demand for natural gas will be only a modest growth this year, cause is a decline in the European natural gas usage after killing the pandemic recovery of natural gas consumption.Demand growth will slow to 0.9% from 4.7% last year, the International Energy Agency said in its quarterly gas report.While usage is expected to increase in Asia and North America, demand is expected to fall sharply in Europe.With more Fed rate hikes now expected than when the S&P 500 forecast was released earlier, the risks to the s&p’s year-end 5,100 target appear to be on the downside, according to Goldman Sachs strategists led by David Kostin.Novavax rose more than 6% to $88.29 in premarket trading after reaching a deal with Israel to supply COVID-19 vaccines.In news, Israel has signed an agreement to purchase 5 million doses of COVID-19 vaccine from Novavax, the Israeli Ministry of Health said last Friday.The health Ministry says the vaccine will arrive in Israel in the coming months, but still needs regulatory approval.Vodafone has teamed up with Intel and other chip suppliers to design a proprietary chip architecture for the emerging OpenRAN network technology.Vodafone said about 20 chip supply chains had joined the programme, including Qualcomm, Broadcom, Arm and Lime Microsystems, half of which were from Europe.Spotify says it’s working to add alerts to any podcasts on its platform that discuss COVID-19.CEO Daniel.Daniel Ek said the new feature would direct users to factual information about the coronavirus.Mackenzie Scott, the former wife of Amazon founder Jeff Bezos, sold $8.5 billion of her amazon shares last year after shedding 2.5 million shares.She also owns 14.9 million shares, which would still be worth $42.9 billion at Friday’s close of $2879.56.Credit Suisse said the slump in growth stocks in the latest month has created an attractive buying point for Tesla.Upgraded Tesla to outperform from neutral, with a price target of $1,025, based on strong fundamentals going forward.