Didi, BioNTech, Carnival: what to watch for when the stock market opens today
Here’s what we’re watching ahead of Friday’s opening.
- Futures contracts linked to the S&P 500 edged up 0.5%, indicating that the broad market index will rebound slightly to the opening bell after its worst one-day decline since June 18.
- Nasdaq futures contracts for heavy tech edged up, up 0.1%.
- Futures contracts on the Dow Jones Industrial Average rose 0.8%. The blue chip gauge ended Thursday down nearly 1.1% for the week. Read our full market overview here.
What is coming
- The Baker Hughes oil rig tally is expected to be released at 1 p.m. ET.
Market movers to watch out for
- Chinese technology companies listed in the United States have rebounded in pre-market trading after falling for several days following a Beijing survey of data practices. Carpool company Didi Global DIDI -5.88%
grew 3.5%, online grocer Pinduoduo also added 3.2%, and video-sharing platform Bilibili rose 4.5%.
Carver Bancorp CARV 106.90%
was up 23% pre-market, a day after an astonishing rise, when shares in one of the country’s largest African-American-operated banks more than doubled.
Pfizer PFE -0.25%
and BioNTech BNTX 0.97%
said they would seek regulatory approval to distribute a Covid-19 booster vaccine. They are also developing an updated version of the shot designed to better protect against the Delta variant. Pfizer shares are up 0.4% pre-market and BioNTech is up 4%.
- Jeans brand Levi Strauss LEVI -0.14%
advanced 3% after reporting after-hours gains Thursday. The company raised its annual outlook above analysts’ forecasts and also increased its dividend.
- Stamps.com, an e-commerce shipping company, climbed more than 35% after agreeing to be bought out by private equity firm Thoma Bravo for $ 6.6 billion.
- Tobacco maker Philip Morris has made a $ 1.2 billion offer for Vectura Group, a UK developer of inhaled drugs. Vectura shares rose more than 13% in London trading and Philip Morris rose 1.1% pre-market.
- Cruise lines are multiplying. Royal Caribbean Group RCL -1.26%
is up more than 2% and Carnival CCL -1.50%
added 3%. Looks like some investors bought lower after both stocks lost around 8% for the week at Thursday’s close.
- The Dow Jones Transportation Average slipped 3.3% on Thursday, the biggest daily decline in more than eight months.
- On that day in 1999, the S&P 500 Index closed above 1400 for the first time, less than four months after crossing 1300. The index had doubled in less than three years.
Card of the day
A rally in junk bonds pushed yields to record lows around 4.54%, according to data from ICE Bank of America, while consumer prices rose 5% in May from the previous year. last year. This is the first time on a record that junk bond yields have fallen below the rate of inflation, according to Bespoke Investment Group.
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