By Mischa Frankl-Duval
Here's what we are watching as markets kick into gear Tuesday.
-- U.S. stock futures slid as political gridlock on both sides of the Atlantic weighed on sentiment amid a continued uptick in coronavirus cases. Futures tied to the S&P 500 fell 0.4%, suggesting that the broad market gauge may pull back for a second day. Nasdaq-100 futures edged down 0.2%. Read our full market wrap here.
What's Coming Up
-- Videogame retailer GameStop and online pet-products company Chewy will report earnings after the market closes.
Market Movers to Watch
-- Tesla shares fell 2.4% premarket after the company said it would sell up to $5 billion in shares over an unspecified timeframe. The company's shares had been trading up more than 3% before the announcement.
-- Shares of Stitch Fix jumped 37% offhours after the online clothing company reported quarterly results that beat expectations. It said active client numbers rose 10% year-on-year.
-- Shares of connected-fitness company Peloton fell 2% after Apple unveiled Fitness+, a range of workouts built around its Apple Watch product. Shares of Spotify also fell around 2%.
-- Shares of ON Semiconductor rose 4% premarket. KeyBanc today raised its rating on the stock.
-- Uber shares fell 2.3% premarket. The company yesterday said it had sold its self-driving car unit to a Silicon Valley competitor.
-- Shares in Coupa Software, which creates software focused on helping businesses manage their spending, climbed 4.7% after the company reported better-than-expected revenue and raised its full-year financial targets.
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(END) Dow Jones Newswires
12-08-20 0919ET