Morning Movers: Six Flags jumps as demand rises across portfolio of parks

U.S. stock futures are mixed this morning with cautious optimism as investors prepare for next week’s Federal Reserve meeting. The recent inflation and labor data have nudged expectations even more firmly toward a rate cut, with most models pricing in a 25 basis point reduction, though a larger 50 basis point move is seen as unlikely.

On the economic front, the labor market continues to show signs of softening. Jobless claims have surged, hitting multi-year highs.

Commodity markets reflect the same cautious mood. Oil prices are extending recent losses on oversupply and signs of weak demand, even with geopolitical risks still in play. Gold continues to shine, trading near record levels as investors seek safe havens amid uncertainty.

In pre-market trading, S&P 500 futures were down 0.03%, Nasdaq futures rose 0.10% and Dow futures fell 0.18%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly.

 HIGHER –

• Warner Bros. Discovery (WBD) up another 8% after The Wall Street Journal reported yesterday that Paramount Skydance (PSKY) is preparing a majority cash bid for the company
• Super Micro (SMCI) up 6% after announcing the broad availability of its Nvidia (NVDA) Blackwell Ultra solutions
• Six Flags (FUN) up 5% after highlighting momentum since the end of the second quarter and reaffirming its FY25 adjusted EBITDA outlook
• Alaska Air (ALK) up 3% after UBS upgraded the stock to Buy with a price target of $90, up from $56

UP AFTER EARNINGS –

• Adobe (ADBE) up 3%

DOWN AFTER EARNINGS –

• RH (RH) down 8%

LOWER –

• Array Technologies (ARRY) down 4% after BofA downgraded shares to Underperform with a price target of $7, down from $8
• Stellantis (STLA) down 2% after BYD (BYDDF) said it clearly leads ahead of Leapmotor in response to the remarks made by Stellantis CEO Antonio Filosa, who publicly stated that “in Germany Leapmotor sold more than BYD”