Bitcoin, Bed Bath & Beyond, Walgreens, Exxon: What to Watch When the Stock Market Opens Today

Stock futures are mixed after Thursday’s technology-driven rout, with Dow futures up and tech shares on course for further losses. Here’s what we’re watching in Thursday’s trading.

  • Course correction:

    Bed Bath & Beyond


    BBBY -10.84%

    shares are up 9% premarket, reversing course after having dropped just as much when it reported lower sales and a quarterly loss.

Bed Bath & Beyond was due to report earnings.



Photo:

Michael M. Santiago/Getty Images

  • Bitcoin is extending its slump, but crypto stocks aren’t being uniformly dragged down with it. Bitcoin miners

    Marathon Digital


    MARA -13.21%

    fell 0.7% premarket and Hut 8 Mining slid 4.7%, but bitcoin wallet provider

    Coinbase


    COIN -6.36%

    rose 1% and

    Bakkt Holdings


    BKKT -17.80%

    added 1%. In a crypto rout, perhaps its better to make your money trading the stuff than spending money on digging it up.

  • Walgreens


    WBA 0.97%

    Boots Alliance added 4.3% premarket. The pharmacy retailer reported results that beat forecasts and lifted its full-year guidance.

  • Alcoholic beverage producer

    Constellation Brands


    STZ.B -0.01%

    slipped 0.5% after it posted lower sales and earnings in the latest quarter, though its adjusted profit beat analysts’ expectations.

  • Datadog


    DDOG -7.76%

    shares added 2.2% ahead of the bell on an otherwise bad day for tech shares, albeit in low-volume trading. The cloud security company said it had entered a partnership with Amazon Web Services on product development.

  • Akamai Technologies


    AKAM -1.26%

    shares dropped 2.6% premarket after Piper Sandler cut its rating on the stock and lowered its price target.

  • Flagship meme stocks

    AMC Entertainment


    AMC -10.75%

    and

    GameStop


    GME -13.12%

    are finding their footing, with premarket rises of 1.2% and 2%, after suffering particularly badly during Wednesday’s broad market drop.

  • Crude prices are climbing, and energy companies are along for the ride.

    Chevron


    CVX 0.65%

    rose 1.3%,

    Exxon


    XOM 1.24%

    Mobil climbed 1.6%,

    Occidental Petroleum


    OXY -4.70%

    added 2.8% and

    Baker Hughes


    BKR 0.35%

    gained 2%.

Chart of the Day
  • Investors are betting that rising interest rates and a tech swoon could bring American stocks’ winning streak to an end in 2022.

Write to James Willhite at james.willhite@wsj.com

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