Morning Movers: Keurig Dr Pepper jumps after third quarter results

Markets are opening with a strong sense of optimism as futures surged to record highs amid fresh signs of progress in the China‐U.S. trade dialogue and expectations of more central-bank easing.

Reports that the U.S. and China have outlined a framework deal to ease tariffs and Chinese rare-earth export controls ahead of a meeting between Donald Trump and Xi Jinping later this week has been a key driver. That development helped lift global risk sentiment and sent commodities like oil higher.

Inflation and central-bank watchers are also encouraged. A slightly softer inflation print, combined with the trade optimism, boosted the odds that the Federal Reserve will cut rates at its next meeting, which is adding fuel to the equity rally.

Amid the optimism, some risks remain visible. Commodity price swings, delayed U.S. data flows due to the government shutdown and the upcoming heavy earnings calendar mean that while the upside is strong, the path is not free of potholes.

In pre-market trading, S&P 500 futures rose 0.82%, Nasdaq futures rose 1.27% and Dow futures rose 0.49%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly.

HIGHER –

• Avidity Biosciences (RNA) up 43% after Novartis (NVS) announced that it has entered into an agreement to acquire the company for $72 per share
• Cadence Bank (CADE) up 2% after reporting that Huntington Bancshares (HBAN) has entered into a definitive agreement to acquire the bank for $7.4B

UP AFTER EARNINGS –

• Keurig Dr Pepper (KDP) up 10%
• Daqo New Energy (DQ) up 9%
• Alliance Resource Properties (ARLP) up 6%
• Bank of Hawaii (BOH) up 3%
• Easterly Government Properties (DEA) up 1%

DOWN AFTER EARNINGS –

• Carter’s (CRI) down 7%
• Revvity (RVTY) down 3%
• First Northwest Bancorp (FNWB) down 2%

LOWER –

• Huntington Bancshares (HBAN) down 5% after announcing it has entered into a definitive agreement to acquire Cadence Bank