Tesla, GameStop, Coherent: what to watch for when the stock market opens today

Futures contracts linked to the S&P 500 rose 0.7%, pointing to an increase after the opening bell. Those linked to the Nasdaq-100 rose 0.8%, suggesting gains in technology stocks. Read our complete market package here.

What’s coming

—Janet Yellen, President-elect Joe Biden chosen as Treasury Secretary, you must testify before the Senate Finance Committee, which is evaluating your appointment, at 10 am ET. It should tell lawmakers that the US risks a longer recession, unless Congress approves more aid and affirms its commitment to market-determined exchange rates.

– Interactive brokers,

IBKR 0.47%

JB Hunt JBHT -0.29%

and Netflix NFLX -0.58%

will show quarterly earnings after the markets close.

Market movers to watch

—Shares at the video game retailer GameStop GME -11.05%

increased by more than 8% in the pre-market. The company has recently become a favorite among individual traders who have encouraged others to take stock in social media forums.

– Coherent COHR -2.22%

rose 33% in the pre-market after Lumentum Holdings LITE 0.08%

confirmed Tuesday that it would acquire the laser maker. The Wall Street Journal previously reported that Lumentum was in advanced negotiations to buy Coherent. Lumentum’s shares fell 5% in the pre-market.

– Tesla TSLA -2.23%

rose 1.9% in the premarket after the electric car maker delivered its first China-made compact Y model crossover vehicles on Monday.

—Shares in Triterras TRIT -25.05%

gained more than 17% in the premarket after the financial technology company authorized a stock buyback program of up to $ 50 million.

—Shares in Gritstone Oncology GRTS 7.30%

it rose more than 40% after the biotech company said it was making progress in developing a vaccine against the virus that causes Covid-19.

– owner of the Stellantis jeep,

FCAU -4.93%

the recently combined businesses of Fiat Chrysler and PSA Group gained 5.1% in the European market, extending Monday’s pop following its debut on the French and Italian stock exchanges. The company’s shares on the New York Stock Exchange will begin trading on Tuesday.

—Shares of Western Union WU 1.25%

shot up 6.3% in the pre-market after the cash-handling company announced a new deal with Walmart WMT -1.59%

where money transfer services will be enabled at Walmart stores across the country.

– Bank of America BAC -2.88%

fell 1.4% in the premarket after the second largest US bank said profits fell 22% in the fourth quarter.

—Shares at Halliburton HAL -4.69%

rose 2.2% after the Houston-based oilfield services company said its loss for the fourth quarter decreased as it led to less loss expenses than it did in the same period last year, and is seeing a recovery in the energy sector.

– Office Depot ODP -0.16%

fell 4.6% in the premarket after the Wall Street Journal reported that the office supply company rejected an unsolicited takeover offer from Staples, but indicated that it is open to an alternative deal.

– Goldman Sachs GS -2.23%

rose 2.6% in the pre-market after the bank reported sharply higher earnings in the fourth quarter.

Market Fact

In the past four years, US government debt held by the public has increased by $ 7 trillion to $ 21.6 trillion. At 100.1% of gross domestic product, the debt already exceeds the economy’s annual production, placing the US in the company of economies that include Greece, Italy and Japan.

Map of the Day

UK merger activity fell in early summer compared to the previous year as part of a broader decline amid virus-induced blockages, but the fourth quarter marked a recovery in UK mergers and acquisitions, already that a vaccination program has increased the prospect of bringing the virus under control.

Mandatory readings since you went to bed

U.S. corporate bond rally hits 2021

Renaissance says losses should have been expected at some point

Yellen calls for more help to avoid a longer, painful recession

After shares rise, investors ask companies what lies ahead