• The Dow went up 0.98%. The S&P 500 gained 1.06% and the Nasdaq rose 0.66%.

• Meta Platforms (Symbol: META) — Meta Platforms’ shares closed down 0.8% following news that it’s cutting its hiring plans for engineers as it prepares for a potential downturn. CEO Mark Zuckerberg said “one of the worst downturns we’ve seen in recent history” is ahead, according to a recording heard by Reuters.

• FedEx (Symbol: FDX) — FedEx shares dropped 1.4% after Berenberg downgraded the transportation stock and cut its price target, citing rising inflation pressures ahead.

• Intel (Symbol: INTC) — Semiconductor stocks declined Friday with shares of Intel falling roughly 3%. Intel delayed plans to start constructing chip factories in Ohio this month, as it waits for Congress to pass legislation giving a boost to the U.S. semiconductor industry.

• Coupang (Symbol: COUP) — Coupang soared 18% after Credit Suisse upgraded shares of the South Korean e-commerce company to “outperform” from “neutral.”

During Premarket hours today (Tuesday – 05.07.2022):

The Dow went down0.48%. The S&P 500 sored 0.47% and the Nasdaq decreased by 0.66%.

• Tesla (Symbol: TSLA) – Tesla delivered 254,695 vehicles during the second quarter, down 17.9% from the first quarter and below what analysts had predicted. China’s Covid-19 shutdowns were a key factor in holding back production. Tesla fell 1% in premarket trading.

• Crocs (Symbol: CROX) – Crocs jumped 2.4% in premarket action after the casual shoe maker’s stock was upgraded to “buy” from “hold” at Loop Capital.

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