By Mischa Frankl-Duval 

Here's what we are watching as markets kick into gear Tuesday. -- U.S. stock futures slid as political gridlock on both sides of the Atlantic weighed on sentiment amid a continued uptick in coronavirus cases. Futures tied to the S&P 500 fell 0.5%, suggesting that the broad market gauge may pull back for a second day. Nasdaq-100 futures edged down 0.3%. Read our full market wrap here.

What's Coming Up

-- Jack Daniel's maker Brown-Forman is set to report quarterly earnings at 7:45 a.m. ET. Publishing company John Wiley & Sons will update investors at around 8 a.m., and tax-preparation firm H&R Block will release earnings at around 8:15 a.m. Videogame retailer GameStop and online pet-products company Chewy will report after the market closes.

Market Movers to Watch

-- Tesla shares fell more than 2% premarket after the company said it would sell up to $5 billion in shares over an unspecified timeframe. The company's shares had been trading up more than 3% before the announcement.

-- Shares of Stitch Fix jumped 33% offhours after the online clothing company reported quarterly results that beat expectations. It said active client numbers rose 10% year-on-year.

-- Shares of ON Semiconductor rose 4.1% premarket. KeyBanc today raised its rating on the stock.

-- Shares in Coupa Software, which creates software focused on helping businesses manage their spending, climbed 3.6% after the company reported better-than-expected revenue and raised its full-year financial targets.

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(END) Dow Jones Newswires

December 08, 2020 07:08 ET (12:08 GMT)

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