Hereâ€™s what weâ€™re watching as markets open Monday for the first trading session of 2021.
â€”U.S. stock futures rose on hopes that continued government stimulus and the rollout of coronavirus vaccines will bode well for equities. Futures tied to the S&P 500 rose 0.5% Monday, while contracts lined to the Dow Jones Industrial Average gained 0.5%, pointing to gains for both gauges after the opening bell. Read our full market wrap here.
Whatâ€™s Coming Up
â€˜s U.S. manufacturing index for December is out at 9:45 a.m. ET.
â€”U.S. construction spending for November, due at 10 a.m., is expected to increase 1.1% from the prior month.
Market Movers to Watch
shares rose 2.2% premarket. The electric-vehicle makerâ€™s sales soared in 2020 despite a drop in global demand for new cars during the Covid-19 pandemic. Tesla said Saturday that it delivered a record 499,550 vehicles globally last year, up from roughly 367,500 the previous year.
â€”Roku gained 2.7% in premarket trading after The Wall Street Journal reported that Quibi is in advanced talks to sell its content catalog to Roku, as the short-form streaming service winds down its operations following an unsuccessful run.
an Internet company based in China, rose more than 70% premarket after the company said it signed an investment term sheet with investors to start a cryptocurrency business.
â€”U.S.-listed shares of Chinaâ€™s three large telecom carriers fell premarket after the New York Stock Exchange moved to delist the trio to comply with a U.S. government ban. Shares in
fell 4.3% and
edged down 3%.
â€”Bitcoin fell more than 6% against the dollar Monday, trading near 1 bitcoin buying $31,076.01. Bitcoin rallied strongly in the last two months of 2020 as a string of well-known investors and companies unveiled bitcoin holdings.
rallied more than 20% after
agreed to buy FLIR in a cash-and-stock deal valued at approximately $8 billion.
fell more than 50% premarket after a cancer treatment under development failed to meet the primary endpoint in a study. In response to the results, the company said it will cut approximately 35% of its workforce.
The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite notched more than 100 record closes in 2020. The Dow rose 7.2% for 2020, the S&P 500 jumped 16% and the Nasdaq surged 44%. The Russell 2000 index of smaller-cap stocks gained 18%.
Chart of the Day
Investors ended one of Wall Streetâ€™s wildest years on record by piling into everything from bitcoin to emerging markets, raising expectations that a powerful economic comeback will fuel even more gains.
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