After a dismal week for major US averages, the Nasdaq index enduring particularly steep losses, the mood has shifted today with index futures pointing upwards. S&P 500 futures have gained 29 points, or 0.6%, while Nasdaq futures have risen by 0.7%.
Tesla, the electric vehicle and clean energy company, is attracting attention with a 3% pre-market dip in its share price following further price cuts implemented in both the US and China.
In a separate development, UBS has downgraded the stocks of six tech giants: Apple, Amazon, Alphabet, Meta, Microsoft, and Nvidia. The investment bank has revised its rating for these companies from ‘overweight’ to ‘neutral’ as a result.
