Stocks on Wall Street opened higher after closely watched consumer-price data showed inflation accelerated slightly in September, and the first major earnings reports of the season rolled in. Here’s what we’re watching before Wednesday’s open.
- JPMorgan Chase JPM -2.30% and BlackRock BLK 2.39% kicked off third-quarter earnings, and their shares took divergent courses in early trading. BlackRock’s stock gained in early trading after it delivered a profit beat for the third quarter as its assets under management climbed more than 20%. JPMorgan’s earnings for the period rose 24%, but its shares were edging down.
- Meme stock Koss KOSS 6.88% was bouncing back to life, jumping 11% after the open. Trading in the headphone maker’s stock had been briefly halted just before Tuesday’s closing bell amid surging volatility.
- Plug Power PLUG 9.28% shares were on the rise. The fuel-cell power systems company’s stock got a ratings upgrade from Morgan Stanley MS -0.36% and a price target of $40 a share. It closed on Tuesday at $29.78.
- Delta Air Lines DAL -3.98% shares slipped in early trading. the carrier posted a quarterly profit as travel demand began to recover in recent weeks, though the company said it faces pressure from rising fuel prices.
- Smart Global Holdings SGH 10.65% shares climbed after it reported record quarterly and annual revenue.
- Pinnacle Financial Partners PNFP 1.43% reported an increase in earnings per share during the recent quarter from a year ago.
- Southwest Airlines LUV -1.64% pilots said the airline’s weekend meltdown that led to the cancellation of more than 2,000 flights reflected longer-running fatigue and frustration among its crew, leaving it vulnerable to further outages.
- Hasbro HAS -0.20% Chief Executive Brian Goldner died Tuesday, just days after he took a leave of absence for medical care.
- Supply-chain management software company E2open Parent Holdings ETWO 0.89% is due to report earnings after the close.
Chart of the Day
- Seniors and other Americans receiving Social Security benefits in 2022 are likely to see the largest increase in their payments in decades, reflecting surging inflation during the pandemic.
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