The US stock market is off to a slightly negative start this morning, with major indices showing early declines. Here’s a breakdown of the key pre-market movers:

Indices:

• S&P 500 (ES): -0.2%
• Nasdaq (NQ): -0.5%
• Russell 2000 (RTY): -0.4%

Key Stocks:

• HXSCL: The company has warned of steeper demand declines in commodity memory chips, which is weighing on stocks of key semiconductor companies such as MU (Micron), NVDA (NVIDIA), ASML (ASML Holding), AMAT (Applied Materials), and LRCX (Lam Research).
• EA (Electronic Arts): The company has reported a disappointing preliminary Q3 performance, with shares dropping by 15%. This soft outlook has raised concerns among investors.
• TSLA (Tesla): Tesla is down 0.5% following the announcement that it will raise prices for all car models in Canada starting February 1st. This price hike may affect demand in the region.
• AAL (American Airlines): Shares are down by 8.5% after the airline reported an unexpected loss per share for Q1. However, the company did report better-than-expected metrics for Q4, which could offer some relief.
• ELV (Elevance Health): Elevance Health is up 5% after reporting better-than-expected EPS and revenue for the quarter, along with FY profit guidance that exceeded analyst expectations.
• GE (General Electric): GE is up 6%, following a strong earnings report that topped expectations. The company also raised its dividend by 30% and increased its buyback program to $7 billion, boosting investor confidence.
• MKC (McCormick): McCormick is down 2.5% after offering a FY profit outlook that was lighter than Wall Street’s consensus estimate, raising concerns about future growth.
• BA (Boeing): Boeing is flat in pre-market trading as the company confirmed that its 737 MAX production capacity will remain at 38 units per month due to ongoing safety concerns.
• KNX (Knight-Swift Transportation): Knight-Swift shares are up 6.5% after the company reported better-than-expected earnings and revenue. The company anticipates that 2025 will be a year of gradual recovery in market conditions, setting the stage for a more constructive 2026.
• STLD (Steel Dynamics): Steel Dynamics is flat in pre-market trading, as the company posted a profit beat but missed revenue expectations. The company remains optimistic about increased demand across its platforms in 2025.

As we move further into the trading day, market sentiment may shift as more news comes in. Keep an eye on these key stocks and broader market trends as the session progresses.