Tech Earnings in Full Swing…

Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were up as earnings launched into full force. Investors are looking for tech stocks to pull the markets out of their recent rut, and Spotify got things started on a strong note (more on that below). Friday’s March PCE data should also clue investors in on the state of inflation.

Here’s a look at the top-moving stocks this morning.

Nucor Corporation (NYSE: NUE)

Nucor is down 6.33% in premarket trading after posting first-quarter earnings that were down from a year earlier. The steel company also said it expects second-quarter profit to dip because of lower revenue from its steel mills segment.

Yesterday our Head Trading Tactician Bryan Bottarelli got positioned on NUE in The War Room.

Click here to see why a stock going down in premarket trading could lead to profit thanks to Bryan’s overnight strategy.

General Motors Company (NYSE: GM)

General Motors is up 4.90% in premarket after topping estimates for the first quarter. It cited stable demand for gas-engine vehicles. Net income rose 24.4% to $3 billion with a 7.6% total rise in revenue to $43 billion. GM has not broken out financial results for its EV business, but Jacobson stuck to previous forecasts for turning a profit.

Spotify Technology (NYSE: SPOT)

Spotify is up 7.67% in premarket trading on Tuesday after reporting strong earnings. The streaming music leader tallied 615 million monthly users. Its monthly active users rose 19% year over year. It also earned $3.95 billion in sales, which was ahead of analyst’s estimates of $3.85 billion.

United Parcel Service (NYSE: UPS)

UPS is up 1.51% premarket despite struggling demand. It reported earnings per share of $1.43 and an operating profit of $1.6 billion from sales of $21.7 billion. This was slightly behind Wall Street’s expectations of $21.8 billion.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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