Here’s what we’re watching ahead of Monday’s opening bell.
- U.S. stock futures wobbled Monday as investors weighed the outlook for the global economy and major companies’ earnings this year.
- Futures tied to the S&P 500 were flat. The broad market index ended last week just shy of its record closing level. Nasdaq-100 futures edged down 0.1%. Read our full market wrap.
What’s Coming Up
- Earnings are due from Tesla and and Brown & Brown after the close.
- The Dallas Fed’s manufacturing survey, due at 10:30 a.m., is expected to rise to 31.7 in April from 28.9 a month earlier.
Market Movers to Watch
- W.R. Grace shares jumped 6.5% premarket after privately held Standard Industries said it would acquire the chemicals company in an all-cash transaction.
- Lennox International shares climbed 3.8% premarket after it released its latest earnings report and raised its 2021 revenue guidance.
- Supermarket chain Albertsons shares dropped 3.6% after it warned that it expects to face difficult comparisons in its new fiscal year, as many people look to reemerge from the Covid-19 pandemic.
- Maybe it’s post-Oscars enthusiasm, but day-trader favorite AMC Entertainment is up 4.4% ahead of the bell.
- Ocugen shares shot 16% higher premarket. On Friday, trading of the biopharmaceutical company was briefly halted amid high volatility after it announced a direct offering of its common stock.
- Pandemic-hit travel companies were ticking higher premarket on Monday. Carnival was up 1.6%, Delta Air Lines added 1.8% and United Airlines rose 1.8%.
- Johnson & Johnson shares nudged up 0.2% premarket. Health officials around the country resumed offering the company’s Covid-19 vaccine this weekend after getting a green light from federal regulators on Friday.
- Bitcoin prices on Friday ended the week down 18.3%. It was the largest weekly decline since the week ended March 13, 2020, when it fell 40.6%. Monday morning prices were up again, by 11%.
- The Dow Jones Transportation Average is up for the past 12 consecutive weeks. It is its longest weekly winning streak since the 15 weeks ended Jan. 28, 1899.
- On this day in 1973, the Chicago Board Options Exchange opened for trading, with call options available on 16 U.S. common stocks. For the first time, stock options were listed on a dedicated exchange and registered for trading in standardized form.
Chart of the Day
The wild market ride has lifted everything from lumber to stocks to bitcoin—and rarely have so many assets been up this much at once. The frenzy has extended far beyond conventional markets tracked by Wall Street firms.
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