With the S&P 500 attempting to break a six-session losing streak, the major U.S. equity averages look poised for a solid upswing at the start of Thursday's trading. U.S. stocks are once again taking their cues from news from the U.K.
In general, momentum and macro stories will likely dominate trading, with U.S. CPI data playing a role as well. Still, some names will move on stock-specific news. Here are some stocks to watch for Thursday:
- Digital World Acquisition ( NASDAQ: DWAC ), the SPAC set to bring Donald Trump's media company public, surged in premarket trading. The stock jumped nearly 8%, with investors reacting to news that the Truth Social social media app appeared on Google's Play Store for the first time.
- Walgreens Boots ( WBA ) rose in premarket action after reporting better-than-expected quarterly results. The drug store chain also predicted adjusted EPS for the full year of $4.45 to $4.65, compared to analysts' consensus of $4.49. Boosted by the news, the stock rose about 5% before the opening bell.
- Taiwan Semiconductor ( TSM ) also edged higher in the wake of its quarterly report . The company beat expectations on both the top and bottom lines. Revenue rose 36% from last year to reach $20.23B -- beating expectations by more than $1B.
- BlackRock ( BLK ) issued quarterly results that exceeded projections, helped by increased revenue from its technology platform, Aladdin. The alternative investment firm said long-term net inflows came in at $65B in Q3, down from $69B in Q2.
- Amazon ( AMZN ) is reportedly launching a set of cost-trimming moves, including shutting down some of its more speculative ventures. According to Bloomberg, this includes the firm's Amazon Explore product, a digital travel offering.
For more on the general market, see why MKM argues that the chances of a "powerful rally" have increased .
For further details see:
5 stocks to watch for Thursday: Trump SPAC, Amazon, Walgreens and more