Kevin Dietsch/Getty Images Stock futures rose Tuesday after Wall Street returned from the Christmas break buoyed by a further loosening of Covid-19 restrictions in China, and as data from Friday showed inflation in the U.S. has continued to moderate. These stocks could make moves Tuesday: Southwest Airlines (ticker: LUV) fell 4.1% after the airline canceled more than two-thirds of its flights Monday after a winter storm battered parts of the United States.
Chief Executive Bob Jordan told The Wall Street Journal that Southwest 'in all likelihood' also would have a tough Tuesday. Jordan said it's the 'largest scale event that I've ever seen.' AMC Entertainment (AMC) shares fell 7.7% early Tuesday. The stock declined 10.4% on Friday after the movie theater company announced it would raise $110 million through selling AMC Preferred Equity Units (APE) to a private investment firm.
NIO (NIO) declined 5.7% following the company's cut to its deliveries outlook for the fourth quarter. Tesla (TSLA) was down 5.4%. Reports said the electric-vehicle company suspended production at its Shanghai plant on Saturday, with the suspension planned to last about a week.
Tesla shares have lost 55% of their value over the past three months. American depositary receipts of Alibaba (BABA) rose 1.5% in premarket trading, JD.com (JD) gained 2.2%, and Baidu (BIDU) was up 1.9% as China said it planned to lift Covid-19 quarantine requirements on international arrivals early next month. Write to Joe Woelfel at EMAIL