Here’s what we’re looking at, with markets opening on Monday for the first trading session of 2021.
–US stock futures rose in the hope that the government’s continued stimulus and the launch of coronavirus vaccines will bode well for action. Futures contracts linked to the S&P 500 rose 0.4% on Monday, while contracts aligned with the Dow Jones Industrial Average rose 0.4%, pointing to gains for both indicators after the opening bell. Read our complete market package here.
What’s coming
– The IHS Markit US manufacturing index for December was released at 9:45 am Eastern Time.
– Construction spending in the United States for November, due at 10am, is expected to increase 1.1% over the previous month.
Market movers to watch
– Tesla TSLA 1.57%
stocks rose 2% in the pre-market. Electric vehicle maker sales soared in 2020, despite the drop in global demand for new cars during the Covid-19 pandemic. Tesla said on Saturday it delivered a record 499,550 vehicles worldwide last year, up from almost 367,500 a year earlier.
Drivers load their vehicles at a Tesla supercharger station, December 30, 2020, in Limon, Colorado.
Photograph:
David Zalubowski / Associated Press
—Roku gained 2.3% in pre-market negotiations after the Wall Street Journal reported that Quibi is in advanced negotiations to sell its content catalog to Roku, as the short-form streaming service ends its operations after an execution unsuccessful.
—Shares in The9 Ltd.,
NCTY 3.51%
an internet company based in China, rose more than 50% in the premarket after the company said it signed an investment term with investors to start a cryptocurrency business.
—The US listed shares of three major Chinese telecom operators fell before the market after the New York Stock Exchange decided to remove the trio from the list to comply with a US government ban. China Mobile CHL shares 0.88%
fell 4.3%, China Telecom CHA -0.04%
fell 5.6% and China Unicom CHU -1.56%
fell 3.9%.
—Bitcoin fell more than 6% against the dollar on Monday, trading close to 1 bitcoin, buying $ 31,130.69. Bitcoin rebounded strongly in the last two months of 2020, when a number of well-known investors and companies revealed their holdings in bitcoin.
—Shares on FLIR FLIR Systems 0.05%
rose more than 20% after Teledyne Technologies agreed to buy FLIR in a cash and stock deal valued at approximately $ 8 billion.
– Calithera Biosciences CALA -3.91%
it fell more than 50% before the market after a developing cancer treatment did not reach the primary goal in one study. In response to the results, the company said it will cut about 35% of its workforce.
Market Fact
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite recorded more than 100 record closings in 2020. The Dow rose 7.2% in 2020, the S&P 500 rose 16% and Nasdaq rose 44%. The Russell 2000 index of lower capitalization shares gained 18%.
Map of the Day
Investors ended one of the craziest years in Wall Street history by piling up on everything from bitcoin to emerging markets, raising expectations that a powerful economic return will generate even more gains.
Mandatory readings since you went to bed
MGM makes $ 11 billion offer to Ladbrokes Entain owner
Chinese telecommunication shares fall with US delisting
Carl Icahn Sells More than Half of Herbalife Stake
Roku approaches agreement to buy rights to Quibi content
Risk-takers bet assets-backed bonds will recover
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