Tech Stocks Pressured Inwards Premarket Trading...

From Investor's Business Daily, 8:50 AM ET:

Dow Jones futures together with S&P 500 futures showed pocket-size losses inwards premarket trading Wednesday, spell technology stocks faced to a greater extent than selling pressure. McDonald's (MCD) was an early on gainer inwards the Dow, upwards close 1% to 171, on reports Guggenheim upgraded shares to purchase from concord amongst a 200 cost target.

Nasdaq 100 futures were downwardly 0.6%. Losses inwards the FAANG stocks — Facebook (FB), Apple (AAPL), Amazon.com (AMZN), Netflix (NFLX) together with Google-parent Alphabet (GOOGL) ranged from 0.4% to 0.5%.

Dow ingredient Travelers (TRV) also made early on headlines on news of a partnership amongst Amazon.com (AMZN).

When it comes to overall marketplace technicals, it's a mixed picture. The Nasdaq composite marked its quaternary at ane time closed below its 50-day moving average Tuesday, spell the S&P 500 is battling for back upwards at the 50-day line. The Russell 2000 small-cap index is at nowadays probing longer-term back upwards at the 200-day moving average.
The Dow is withal belongings inwards a higher identify its 50-day trouble every bit coin continues to catamenia into large-cap names.

Dow Jones Futures: Breakout For McDonald's?
McDonald's has rallied nicely later on hitting a depression of 156.56 on Sept. 17. Watch for the stock to accept out its prior high of 171.56. If it does, it would qualify every bit a technical breakout.

Elsewhere, shares of PPG Industries (PPG) were inwards rally means early on Wednesday, upwards 3%, later on activist investor Trian announced a 2.9% stake. Shares plunged  10% Tuesday later on the maker of paints, coatings together with specialty materials said results for the residual of the twelvemonth would last wound past times higher costs.

China-based electrical motorcar maker Nio (NIO) extended gains later on shares surged 22% Tuesday. Baillie Gifford & Company, ane of Tesla's (TSLA) largest shareholders, has taken an 11% stake inwards Nio. Nio went populace inwards September at 6.25 a share. Shares were trading closed to 8.10 early on Wednesday, upwards some other 9%.

USA unsmooth fossil oil futures edged lower t0 $74.79 a barrel every bit Hurricane Michael took aim at Florida. It's now  a Category 4 tempest expected to brand landfall today....MORE