Nvidia, Apple, Tesla fall premarket; Ralph Lauren rises

Investing.com -- US stock futures stabilized Tuesday ahead of the start of the latest policy-setting meeting by the Federal Reserve.

Here are some of the biggest premarket US stock movers today:

• Nvidia (NASDAQ:NVDA) stock fell 0.4%, ahead of CEO Jensen Huang’s keynote address at the chipmaking giant’s GTC conference in California, with investors looking for his thoughts on the path ahead for the multi-year boom in enthusiasm around artificial intelligence.

• Adobe (NASDAQ:ADBE) stock fell 0.3% with the computer software company expected to provide more insight into their AI strategy during a meeting with analysts at the Photoshop-owner’s digital experience conference.

• Alphabet (NASDAQ:GOOGL) stock fell 0.2% after the Wall Street Journal reported that the Google-parent is in advanced talks to acquire cybersecurity startup Wiz for around $30 billion.

• Apple (NASDAQ:AAPL) stock fell 0.2% after the iPhone maker lost an legal appeal against a regulatory assessment that opens it to stricter controls in Germany.

• Xpeng (NYSE:XPEV) stock fell 1.5% after the Chinese electric vehicle maker reported better-than-expected fourth-quarter results and provided an upbeat outlook.

• Tesla (NASDAQ:TSLA) stock fell 3.3%, continuing to decline after dropping for eight straight weeks amid concerns that CEO Elon Musk’s political activities are damaging the brand.

• Ralph Lauren (NYSE:RL) stock rose 3.2% after Goldman Sachs (NYSE:GS) upgraded its stance on the luxury clothes retailer to ‘buy’ from ‘neutral’, saying improving execution and momentum will drive additional market share.

• Steel Dynamics (NASDAQ:STLD) stock rose 0.5% after the steelmaker said its first-quarter earnings are set to be stronger than sequential fourth-quarter results, “based on increased shipments more than offsetting some metal margin compression.”