Tesla (NASDAQ:TSLA) is a key stock to watch, trading at $203.26 as of 11:18 AM EDT.
The futures are pointing to a stronger open on Monday, building on the significant gains made at the close of last week, despite a wave of selling in China and anxiety ahead of mega-cap earnings later this week. Here are a few stocks to keep an eye on Monday:
Stocks to Watch
- In premarket trading, Tesla (NASDAQ:TSLA) saw its share price decline as concerns about the Chinese economy increased. Elon Musk’s electric vehicle manufacturer slashed costs in the nation by up to 9%. After the news, shares decreased by over 3%.
- Other EV names had a big drop in premarket trading because many people were worried about the economy after the latest GDP report came out. XPeng (NYSE: XPEV) lost more than 11% of its value before the US Open. Both Nio (NYSE:NIO) and Li Auto (NASDAQ:LI) had a more than 9% decline.
- FedEx (NYSE:FDX) was downgraded by Wells Fargo, which said that Wall Street didn’t notice the company’s shift from growth to efficiency. The company downgraded the package delivery behemoth from overweight to equal weight.
- During premarket trade, Philips (NYSE:PHG) came under pressure due to a mixed results report and a pessimistic projection. The company’s Q3 sales total, which increased by 3% from the prior year, fell short of projections. The company now anticipates that its Q4 comparable sales will decline by a mid-single-digit percentage.
- Discover Financial Services (DFS) is going to share its quarterly results after the market closes. It is anticipated that the financial services firm, which operates the Discover credit card network, will report normalized earnings of $3.72 per share on $3.4 billion in revenue.
For further information on the broader market, see what Wells Fargo predicts will point to the stock market’s eventual bottom.
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Featured Image- Megapixl @ Chatdesbalkans
Author Jowi Kwasu 
