US Stock Futures rise, stocks to watch out for

US stock futures are solidly in the green as investors anticipate the Federal Reserve's key interest rate final ruling later today. Dow futures implied a 280-point gain at the open, while S&P 500 and Nasdaq futures were up about 0.9 percent and 1.4 percent, respectively. CNBC.

Wall Street is hoping to build on Tuesday's strong stock market gains when the S&P 500 rose 2.1 percent to snap a three-day losing streak. The Nasdaq rose 2.9 percent, snapping a three-day losing streak. Both indices are attempting to post their first cycle of positive sessions since February 24-25. On Tuesday, the Dow gained 599 points or 1.8 percent.

WATCH OUT FOR THESE STOCKS

Pfizer (PFE) and BioNTech (BNTX) have asked the FDA for permission to administer the second batch of its booster dose of COVID-19 vaccines. Approval by the FDA may come in time for the fall vaccination campaign.

Spotify (SPOT) has closed a deal for stadium and shift sponsorship with FC Barcelona of Spain. For the next four seasons, the Spotify logo will appear on uniform shirts.

Didi Global (DIDI), Alibaba (BABA), JD.com (JD), and Pinduoduo (PDD) are all orchestrating strong premarket rallies as the China-based companies try to recover from sell-offs caused by concerns about China's Covid-19 outbreak as well as debunking fears in the United States.

NortonLifeLock's (NLOK) $8.6 billion acquisition of cybersecurity rival Avast could be subject to an in-depth investigation by UK regulators, who believe the deal could become a competitive concern.  NortonLifeLock stated that it has no plans to disclose any possible solutions to those concerns.

Novo Nordisk (NVO) rose in early trade after Deutsche Bank upgraded the Danish health care company to buy from hold, raising its price target for the stock. 

Despite an optimistic quarterly report that beat estimates all-round, Shoe Carnival (SCVL) shares fell 3.3 percent in premarket trading. The footwear retailer released a full-year revenue and profit forecast range that was mostly – but not entirely – above current Wall Street expectations. Shoe Carnival has also declared a 29 percent dividend increase.

Lands' End (LE) skipped projections by 10 cents per share with quarterly earnings of 21 cents per share, whilst also revenue came up short of Street expectations.  The clothing retailer also provided a lower-than-expected forecast due to rising costs and ongoing supply chain challenges. In premarket trading, Lands' End fell 9.5 percent.