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 0.4%, suggesting that the broad market gauge may pull back for a second day. Nasdaq-100 futures edged down 0.2%. Read our full market wrap here.

What's Coming Up

-- Videogame retailer GameStop and online pet-products company Chewy will report earnings after the market closes.

Market Movers to Watch

-- Tesla shares fell 2.4% 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 37% offhours after the online clothing company reported quarterly results that beat expectations. It said active client numbers rose 10% year-on-year.

-- Shares of connected-fitness company Peloton fell 2% after Apple unveiled Fitness+, a range of workouts built around its Apple Watch product. Shares of Spotify also fell around 2%.

-- Shares of ON Semiconductor rose 4% premarket. KeyBanc today raised its rating on the stock.

-- Uber shares fell 2.3% premarket. The company yesterday said it had sold its self-driving car unit to a Silicon Valley competitor.

-- Shares in Coupa Software, which creates software focused on helping businesses manage their spending, climbed 4.7% after the company reported better-than-expected revenue and raised its full-year financial targets.

Must Reads Since You Went to Bed

JD Health Makes Strong Debut in Hong Kong

Goldman Sachs to Acquire 100% of China Securities Joint Venture

U.S. Steel to Buy Remaining Stake in New, Low-Cost Steel Mill

Greek Banks Turn Corner With Bad-Loan Sales

Chinese Household Debt Surges Through the Pandemic


(END) Dow Jones Newswires

December 08, 2020 09:19 ET (14:19 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.