Eli Lilly, Twitter, NIO: What to Watch When the Stock Market Opens Today
By James Willhite
Here's what we're watching ahead of the opening bell on
-- Futures tied to the S&P 500 slipped 0.6%, indicating the
benchmark may fall from the all-time high it closed at on Friday.
Contracts tied to the Nasdaq-100 edged 0.5% lower and those linked
to the Dow Jones Industrial Average fell 0.7%.
Political rancor remains front and center, as the House may move
to impeach President Trump as soon as this week.
What's Coming Up
-- Atlanta Fed President Raphael Bostic speaks on the economic
outlook at 12 p.m., and Dallas Fed President Robert Kaplan speaks
at a virtual town hall at 6 p.m.
Investors say the recent rise in Treasury yields is raising
questions about how the central bank may respond. The yield on the
10-year Treasury note on Monday edged down to 1.101%, from 1.105%
-- Ford and General Motors are presenting at the Morgan Stanley
Auto 2.0 Conference. Participants at the JPMorgan Healthcare
Conference will include Novartis, AstraZeneca and Regeneron
Market Movers to Watch
-- Ahead of the bell, Twitter shares dropped 6.3%. The
social-media site permanently banned President Trump, perhaps one
of its most famous users. Facebook shut him out as well.
-- Eli Lilly shares jumped more than 14% premarket after it said
an experimental Alzheimer's drug helped patients in a small
-- Shares of Sarepta Therapeutics clawed back 6.8% premarket
after plummeting more than 50% on Friday.
-- U.S. listed shares of Chinese electric-car maker NIO extended
their recent climb, adding 10% premarket after Friday's more than
8% jump. The company on Saturday unveiled its fourth production
-- Shares in Gilead Sciences rose 1.7% after the drug maker
raised its product sales expectations for 2020 as it said it sold
more remdesivir, the Covid-19 drug, amid a recent surge in
-- Bitcoin prices on Monday are down more than 8% to trade below
$35,000. Just last week the volatile digital currency had been
trading north of $40,000.
While the Dow climbed 7.2% in 2020 and the S&P 500 wrapped
up the year with a gain of more than 16%, the average diversified
U.S. stock fund rewarded investors with a 19.1% increase.
Chart of the Day
Investors are showing signs of increasing exuberance, reflecting
optimism about a vaccine-fueled global recovery and the changed
economics of the post-coronavirus world.
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(END) Dow Jones Newswires
January 11, 2021 07:57 ET (12:57 GMT)
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