Here’s what we’re watching before Friday’s trading starts.
–US stock futures were mixed, with technology stocks ready for losses and the Dow Jones Industrial Average on the way to a new record.
Nasdaq-100 futures fell 1.6%. Futures contracts linked to the S&P 500 fell 0.4% and contracts linked to the Dow Jones Industrial Average rose 0.2%.
What’s coming
–Preliminary consumer sentiment index from the University of Michigan for March, due at 10am, it is expected to rise to 78.9 from 76.8 at the end of February.
Market drivers to watch
– Novavax NVAX 11.41%
The shares soared 17% before the bell, after the biotech drug maker said, after Thursday’s close, that studies show that its Covid-19 vaccine is highly effective.
—The main banks are up. Citigroup,
Ç 1.42%
JPMorgan Chase,
JPM 1.63%
Bank of America BAC 1.61%
and Wells Fargo WFC 1.75%
rose more than 1% before the market, another sign of an investor’s shift from growth to value.
– Ulta Beauty ULTA -11.09%
it sank 9.6% ahead of the market after it announced a change in leadership and set the lighter revenue orientation than analysts had expected.
An Ulta beauty shop on Chicago’s Magnificent Mile, November 19, 2020.
Photograph:
Charles Rex Arbogast / Associated Press
– DocuSign DOCU -4.89%
fell 3.2% in the pre-market. The e-signature company exceeded revenue and profit expectations for the last quarter, while offering a better-than-expected outlook. But he was also a big winner in the pandemic, with his stock growing 200% last year.
– Vail Resorts MTN 8.08%
increased 7% before the market. The resort operator’s earnings report exceeded forecasts and said it had made some progress during the ski season in the United States and Canada.
Market Fact
The Nasdaq Composite is now just 4.9% from its February 12 high record after sliding into the correction territory – a drop of at least 10% from the recent high – on Monday.
Map of the Day
As the launch of Covid-19 vaccines accelerates and the economy recovers from last year’s outages, portfolio managers are taking stock of cyclical companies.
Mandatory readings since you went to bed
Did not qualify for stimulus verification? See how you can change that.
Companies are still working on changing Libor
Bitcoin and chip makers get caught up in a bad romance
Holley is going public in the $ 1.55 billion merger with SPAC
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