Disney, Tesla, General Electric: What to Watch When the Stock Market Opens Today

Disney, Tesla, General Electric: What to Watch When the Stock Market Opens Today


Here’s what we’re watching before Monday’s trading action begins.

U.S. stock futures dropped and a selloff in U.S. government bonds extended into its sixth week after progress toward a new fiscal stimulus bill brightened economic prospects and sapped demand for technology stocks.

Futures linked to the S&P 500 slipped 0.5% and Nasdaq-100 futures fell 1.3%. In the bond market, the yield on benchmark 10-year US. Treasurys rose to 1.599%. It had ended Friday at 1.551%, its highest since February 2020.

What’s Coming Up

Earnings are due from

Casey’s General Stores,


CASY 3.11%

Stitch Fix


SFIX 4.43%

and

Del Taco Restaurants


TACO 1.41%

after the closing bell.

U.S. wholesale inventories for January, due at 10 a.m., are expected to increase 0.9% from the prior month.

Market Movers to Watch

—Walt

Disney


DIS 1.04%

shares added 1.6% ahead of the bell. The entertainment giant’s, “Raya and the Last Dragon,” its first domestic release in a year, delivered tepid results after Cinemark theaters, the nation’s third-largest chain, didn’t play the film.

General Electric


GE 0.29%

added 2.4% premarket. The company is nearing a $30 billion-plus deal to combine its aircraft-leasing business with Ireland’s

AerCap Holdings,


AER 1.62%

according to people familiar with the matter.

The General Electric logo on the company’s corporate headquarters in Boston,. July 23, 2019..



Photo:

alwyn scott/Reuters

McAfee


MCFE -0.33%

shares gained 1.9% premarket. The digital-security company said it has agreed t to sell its enterprise business to a consortium led by Symphony Technology Group in an all-cash deal valued at $4 billion.

—Shares of

Coherent


COHR 0.48%

climbed 2% premarket.

Lumentum Holdings


LITE 0.93%

said Monday it received notice from the laser technology company, which Lumentum has entered into an agreement to acquire, that the unsolicited buyout bid it received from

II-VI


IIVI -1.32%

was “superior.” Lumentum edged up 0.2% and II-VI fell 2.2%.

Tesla


TSLA -3.78%

shares are sliding again, down 2.5% premarket.

—Pandemic-era favorites

Zoom Video Communications


ZM -1.65%

and

Snowflake


SNOW -3.72%

both shed 1.8% premarket.

Market Fact

The tech-heavy Nasdaq Composite declined 2.1% last week, its third consecutive week losing ground, bringing it down 8.3% from its Feb. 12 high.

Chart of the Day

Booming sales and profits mean big U.S. cannabis growers are becoming attractive bets. Many investors still have to settle for shakier Canadian names which are easier to buy.

Must Reads Since You Went to Bed

Chinese Stocks Slide, With a Major Index in Correction Territory

Quantum-Computing Startup IonQ Plans Public Debut in $2 Billion SPAC Merger

Greensill’s Clients Included West Virginia Governor’s Coal Company

Finance Chiefs Look to Price Increases to Offset Higher Commodities Costs

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



Source link