Boeing, Adobe slip premarket; RH soars

Investing.com -- US stock index futures were steady in European trade on Friday, as investors held on to expectations of lower interest rates ahead of a Federal Reserve meeting that could potentially herald a larger easing cycle.

By 07:12 ET (11:12 GMT), the Dow futures contract had added 81 points or 0.2%, S&P 500 futures had ticked up by 11 points or 0.2%, and Nasdaq 100 futures had risen by 14 points or 0.1%.

Here are some of the biggest premarket US stock movers today.

More than 30,000 Boeing (NYSE:BA ) workers are set to go on strike after the company’s factory employees in the US Pacific Northwest voted for a work stoppage over demands for higher pay, presenting more challenges for the aerospace giant. Shares dipped by over 3% prior to the opening bell on Wall Street.

Adobe's (NASDAQ:ADBE ) fourth-quarter revenue guidance missed analysts' expectations, sending shares in the Photoshop-owner sharply lower. The California-based group said it anticipates that sales during the period will come in at $5.50 billion to $5.55 billion, below LSEG forecasts of $5.61 billion, Reuters reported.

Shares in Moderna (NASDAQ:MRNA ) edged lower premarket, pointing to an extension in deep losses posted in the prior session, as analysts slashed their rating of the drugmaker after it delayed its profitability target.

Upwork (NASDAQ:UPWK ) shares inched up after CNBC reported that activist investor Engine Capital had about a 4% stake in the freelance marketplace and is calling for a revamp to its board due to "foundational issues" at the company.

The Biden administration announced on Friday that it will propose new trade rules aimed at reducing the number of duty and tax exemptions for shipments containing low-value goods. American depositary recepits of China's PDD Holdings (NASDAQ:PDD )  -- the owner of cut-price online retailer Temu -- and e-commerce group Alibaba (NYSE:BABA ) fell.

RH (NYSE:RH ) shares spiked after the furniture retailer posted better-than-anticipated revenue and profit in the second quarter and said it has seen an improvement in customer demand.

Vistra Energy Corp . (NYSE:VST ) shares moved higher after analysts at Jefferies named the firm as its top pick and launched coverage of the power segment with a constructive view.

Source: Investing.com