S&P 500 Futures Higher in Premarket; Darden Restaurants, Mobileye Global Advance
Market Overview
The S&P 500 futures are pointing to a positive open in premarket trading, with futures currently up 0.2%. The Dow Jones Industrial Average futures are also up 0.2%, while the Nasdaq Composite futures are up 0.3%. Major indices closed with gains on Tuesday, with the S&P 500 gaining 0.5% to close at 4,019.81. The Dow Jones Industrial Average gained 0.4% to close at 33,912.18. The Nasdaq Composite gained 0.7% to close at 11,590.40. The Russell 2000 gained 1.2% to close at 1,939.13.
Company News
Darden Restaurants (DRI) is up 2.5% in premarket trading after reporting better-than-expected earnings for its fiscal fourth quarter. The company reported earnings per share of $1.73, beating analysts' estimates of $1.64. Revenue also came in above expectations, with the company reporting revenue of $2.24 billion, beating analysts' estimates of $2.19 billion.
Mobileye Global (MBLY) is up 2.0% in premarket trading after announcing a partnership with Volkswagen to develop self-driving cars. The two companies will work together to develop a self-driving system that will be used in Volkswagen's cars. The system is expected to be launched in 2025.
Economic Data
The economic calendar is relatively light today, with the only major data release being the weekly jobless claims report. The report is expected to show that jobless claims rose by 3,000 to 225,000 last week. Continuing claims are also expected to continue to decline.
Comments