Dow Jones futures, S&P 500 futures, and Nasdaq futures all fell early Wednesday. Debt-ceiling discussions have begun, and the CPI inflation data is due out Wednesday morning.
Axon Enterprise (AXON), Airbnb (ABNB), and Celsius Holdings (CELH) were among the firms that reported profits on Tuesday night, with the stocks trading at purchase marks.
The stock market rise slowed marginally on Tuesday. The main indices are not far off their all-time highs, but market breadth was thin. Salesforce.com (CRM) has completed a brief consolidation, presenting a purchasing opportunity. Shockwave Medical (SWAV) climbed marginally on results, putting itself in line for an early entrance.
Aside from ABNB, Duolingo (DUOL), Flywire (FLYW), Exact Sciences (EXAS), Toast (TOST), GXO Logistics (GXO), and Wynn Resorts (WYNN) also reported Tuesday night, all closing in or around official or early purchase zones.
Li Auto (LI) surged after reporting first-quarter earnings early Wednesday. The New York Times (NYT) and Performance Food Group (PFGC) reported mixed results, with their stocks still inactive. Catalyst Pharmaceuticals (CPRX) is also scheduled to trade before the market opens. LI stock and the others are trading around their purchase prices.
Despite surpassing expectations and proposing a $2.5 billion repurchase, Airbnb fell more than 10% early Wednesday. Bookings and Q2 forecast fell short. Axon dropped somewhat after hours.
CRM stock and Shockwave are among the stocks on the IBD Leaderboard to keep an eye on. The IBD 50 includes CELH shares, Shockwave, Catalyst Pharma, Duolingo, and Axon Enterprise. The IBD Big Cap 20 includes AXON shares and Salesforce. Salesforce was the IBD Stock of the Day on Tuesday.