Here’s what we’re watching before Friday’s trading starts.
–US stock futures rose, putting the S&P 500 on the road to its best week in three months, with investors betting that a new spending package for coronavirus relief will boost the economy.
Futures linked to the S&P 500 gained 0.5%, contracts linked to the high-tech Nasdaq-100 rose 0.2% and Dow futures rose 0.5%. Read our complete market package.
US employers created 49,000 jobs last month, the Department of Labor said on Friday, returning growth to the job market after a month-long decline. The unemployment rate fell to 6.3%.
What’s coming
—The Baker Hughes platform count, an indicator of activity in the oil sector, was released at 1 pm The US consumer credit data for December was released at 3 pm
Market movers to watch
—Robinhood has lifted its trade restrictions on GameStop,
GME 34.60%
up to 8.2% in pre-market and AMC Entertainment,
AMC 2.96%
up to 5.1%. But they will have to go a long way to overcome yesterday’s 42% and 21% falls, respectively. For our live action blog, follow this link.
–Pinterest and Snap are jumping in opposite directions after the platforms added millions of new users than expected in their last quarters, showing strong growth in the use of social media during the pandemic. Pinterest PINS 5.51%
shares rose more than 10% before the bell, while Snap SNAP 6.11%
shares plunged 6.2%.
– Johnson & Johnson JNJ 1.43%
received a booster injection before the market after asking regulators to authorize the emergency use of its Covid-19 vaccine. Its shares total 2.1%.
– Activision Blizzard ATVI 9.87%
The results offered more evidence of people killing time during the pandemic playing video games. The game maker’s shares soared more than 10% ahead of the market after year-end sales and revenue prospects exceeded expectations. KeyBanc increased its target share price from $ 102 to $ 120.
—Pandemic favorite Peloton PTON -7.99%
The company’s shares fell 6.3% after it said sales and subscriptions more than doubled in the last quarter, despite the long shipping delays the company promised to treat as potential customers to vent its anger online.
Peloton Interactive stationary bikes for sale at the company’s showroom in Dedham, Massachusetts, on Wednesday.
Photograph:
Adam Glanzman / Bloomberg News
– T-Mobile US TMUS -3.22%
the shares lost 1.9% ahead of the market after the wireless operator said its nearly one-year merger with Sprint will overburden the combined company with more costs this year as its engineers transfer more subscribers to a single network.
—Shares by cosmetics manufacturer Estee Lauder EL 8.74%
rose 5.6% in the pre-market. Its profit and sales increased in the recent quarter, better than the drop in sales it expected, as it recorded gains in the Asia Pacific region and online sales.
– Ford F 1.36%
the shares rose 4.2% before opening, after the Detroit automaker said its fourth quarter earnings were hampered by lower truck production, and it promised to almost double its investment in electric, driverless cars.
—Shares of Gilead Sciences GILD 2.63%
added 2.5% to the pre-market after the drugmaker said demand for Veklury, its treatment for some Covid-19 patients, helped boost sales in the fourth quarter.
Market Fact
The average daily trading volume on Tradeweb’s online securities trading platform reached $ 1 trillion in January, the company said on Thursday. This is the busiest month on record, beating March 2020, when falling stock markets pushed investors into government debt security.
Map of the Day
The Alibaba Group sold $ 5 billion in bonds, showing that investors remain eager to support the Chinese e-commerce giant, despite its recent disagreements with the authorities.
Mandatory readings since you went to bed
Credit Suisse was warned of banker misconduct years before charges
TikTok Rival’s stock more than doubled at Hong Kong debut
Chobani Eyes 2021 Public Listing
23andMe will go public with SPAC supported by Richard Branson
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