Morning Movers: Ollie’s Bargain Outlet gains, General Mills slips after earnings

Stock index futures in the United States were marginally higher as investors weigh concerns about persistent inflation against hopes for a more accommodative stance from the Federal Reserve. Market participants are remaining cautious ahead of the Federal Reserve’s rate decision due later this afternoon, though it is widely believed the central bank will stand pat.

In the commodities market, gold prices continue to hover near record highs, bolstered by ongoing geopolitical uncertainty and a weaker U.S. dollar. Spot gold peaked at $3,028.24 earlier in the session and is currently trading at $3,023.09 per ounce, up 0.7%. Investors seeking safe-haven assets have driven gold’s recent rally, with heightened tensions in the Middle East and uncertainty surrounding future Federal Reserve policy contributing to the metal’s upward momentum. Meanwhile, oil prices remain volatile as traders assess global supply dynamics and the potential economic fallout from prolonged trade disruptions. After shedding more than 1% in the prior session, oil prices staged a modest rebound. Brent crude futures edged up 0.5% to $69.45 per barrel, while West Texas Intermediate crude rose 0.4% to $66.23 per barrel. 

In pre-market trading, S&P 500 futures rose 0.1%, Nasdaq futures rose 0.2% and Dow futures were nearly unchanged.

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

HIGHER –

• Venture Global (VG) up 6% after Bloomberg wrote the Trump administration is set to give Venture conditional approval to export natural gas from a planned facility in Louisiana that had stalled under former President Joe Biden
• Tesla (TSLA) up 2% after Reuters reported the company received the first permit in a series of approvals from California Public Utilities Commission to launch a robotaxi service in the state

UP AFTER EARNINGS –

• Ollie’s Bargain Outlet (OLLI) up 4%
• Williams-Sonoma (WSM) up 2%
• Aterian (ATER) up 13%
• StoneCo (STNE) up 11%

DOWN AFTER EARNINGS –

• General Mills (GIS) down 5%
• HealthEquity (HQY) down 13%
• Waldencast (WALD) down 13%

LOWER –

• Gilead (GILD) down 2% after The Wall Street Journal reported The Health and Human Services Department is weighing plans to “drastically” cut the federal government’s funding for domestic HIV prevention