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U.S. equity futures remained tightly range-bound in the latest premarket hour, with S&P 500 futures up about 0.05% while Dow futures slipped 0.21%. The quiet index-level move masked much larger swings in individual stocks, led by Reddit and Nu Holdings.
Reddit (NYSE:RDDT) was up about 11.2% in the latest premarket trading, making it one of the session's largest liquid U.S. stock movers. The rally follows the company's selection for inclusion in the S&P 500, a change that can generate substantial index-fund demand for the shares.
Nu Holdings (NYSE:NU) was also trading sharply higher, up about 9.7%, while Procore Technologies, Sandisk and AAON were each showing gains of more than 6%. On the downside, Essex Property Trust was off roughly 10.2% and Range Resources was down about 7.3%.
| Stock | Ticker | Move |
|---|---|---|
| RDDT | +11.2% | |
| Nu Holdings | NU | +9.7% |
| Essex Property Trust | ESS | −10.2% |
| Range Resources | RRC | −7.3% |
The broader futures market remained restrained as higher crude prices continued to reflect Middle East geopolitical risk. Brent futures were recently up about 0.16%, while gold futures slipped around 0.20%. The combination of firmer oil and a 4.656% 10-year Treasury yield is keeping the major equity indexes from following the strongest individual premarket gainers higher.