Stock futures slipped on Wednesday as investors awaited the release of U.S. consumer price index (CPI) data. Economists predict that CPI climbed at a 3.6% annual pace in August, up from the 3.2% pace recorded in July.
Stocks in Focus Today
Here are some stocks that are expected to make moves today:
Apple's stock is rising by 0.2% today, rebounding slightly after declining by 1.7% following the launch of its new iPhone lineup. Although there were expectations of price increases across the Pro lineup, Apple surprised by only raising the starting price of its iPhone 15 Pro Max phone by $10.
U.S.-listed shares of BP have risen by 2.4% in premarket trading after Chief Executive Bernard Looney resigned amidst an investigation into new allegations regarding his personal relationships with colleagues. Looney had been a strong advocate for BP's transition to clean energy.
NIO (NIO), XPeng (XPEV), and Li Auto (LI)
American depositary receipts of NIO declined by 2.3%, XPeng was down by 2.7%, and Li Auto fell by 1.6%. This came after European Commission President Ursula von der Leyen announced plans to launch an anti-subsidy investigation into Chinese electric-vehicle makers.
Rocket Pharmaceuticals (RCKT)
Rocket Pharmaceuticals saw a jump of 17% in its stock price after the pharmaceutical company announced that it had reached alignment with the Food and Drug Administration (FDA) regarding its global Phase 2 trial for the treatment of Danon disease, a fatal genetic cardiac disease.