CarMax Stock Gains, Nikola Plunges, and the Dow Is Wavering

Stocks are wobbling following a volatile Wednesday on Wall Street.

Several issues continue to weigh on the market. On the list are rising coronavirus cases, an increasingly contentious U.S. presidential election, and doubts over whether Congress will provide more fiscal relief as the Federal Reserve calls for more support for the economy.

Investors on Thursday will also have their eye on initial jobless claims for the week ending Sept. 18, which are set to be released at 8:30 a.m., Eastern time. Economists predict that 850,000 people newly filed claims, down slightly from 860,000 people in the prior week.

Futures for the Dow Jones Industrial Average fell 0.2% while S&P 500 futures slid 0.4%. Nasdaq Composit e futures were off by 0.7%.

CarMax (ticker: KMX) climbed 1% after reporting a 27% jump in earnings for its second quarter. Demand for used cars has soared during the pandemic.

Olive Garden’s parent, Darden Restaurants (DRI), saw its shares waver in and out of positive territory premarket after sales for its first quarter came in just below estimates.

Tesla (TSLA) shares were down 2.6% following a 10.3% drop Wednesday. The company’ battery day won some analyst support but failed to impress investors.

Nikola (NKLA) shares plunged 11% following a bearish report from Wedbush analyst Dan Ives, amid an already volatile week for the stock after executive chairman Trevor Milton abruptly resigned.

Reprinted from yahoofinance, the copyright all reserved by the original author.

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