The stock market is buzzing with activity as several companies are making big moves before the bell. Under Armour shares dropped 5.3% as founder Kevin Plank returns as chief executive, signaling a shift in strategy. Electric vehicle developer Fisker is facing potential bankruptcy, causing its shares to plummet. On the other hand, Robinhood saw a 41% increase in equity trading volumes, leading to a 12% climb in its shares.
In other news, the producer price index rose more than expected in February, with core PPI also showing a gain. This data release comes just before the Federal Reserve’s meeting in March.
Investors are also advised to take steps to save on taxes related to their investments. By enhancing the tax efficiency of their portfolios and considering asset allocation, they can minimize the tax hit when filing next spring.
Furthermore, the House’s proposed bill to divest or ban TikTok could have broader stock market ramifications, particularly affecting technology companies with Chinese exposure. If passed, the bill could impact mega-cap names like Alphabet, Meta, and Microsoft.
Lastly, stock futures opened marginally higher, indicating a positive start to the trading day. Stay tuned for more updates on the market’s movements.
