Stock futures continued to edge lower Tuesday morning following reports that President Donald Trump dismissed Federal Reserve Governor Lisa Cook amid allegations of mortgage fraud. Cook, who was appointed in 2022 and the first Black woman to serve on the Fed board, has refused to resign and called the firing unlawful, indicating potential legal challenges.
Here are some of Tuesday’s biggest stock movers:
Biggest stock gainers
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Interactive Brokers (NASDAQ:IBKR) +4%, Talen Energy (NASDAQ:TLN) +4%, Kinetik Holdings (NYSE:KNTK) +5% – Shares rose following the news that IBKR is being added to the S&P 500, replacing Walgreens Boots Alliance (WBA), which is set to be taken private by Sycamore Partners. Talen Energy (NASDAQ:TLN) will replace IBKR in the S&P MidCap 400, while Kinetik Holdings (NYSE:KNTK) will join the S&P SmallCap 600, replacing Pacific Premier Bancorp (PPBI), which is being acquired by Columbia Banking System. All index changes will take effect before the market opens on Aug. 28, except KNTK’s move on Sept. 2.
Biggest stock losers
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EHang (NASDAQ:EH) -7% – Shares fell after the Chinese drone maker posted mixed Q2 results. Revenue surged 44.2% Y/Y and 464% Q/Q to RMB147.2M (US$20.5M), but the company reported a net loss of RMB81.0M (US$11.3M), slightly wider than a year ago. While gross margin held strong at 62.6%, operating losses and legal provisions pressured results. Investors appeared concerned about the widening loss despite robust sales growth and continued progress in commercial eVTOL operations, with the company emphasizing expansion and new strategic partnerships for future growth.