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 0.6% and Nasdaq-100 futures fell 1.3%. In the bond market, the yield on benchmark 10-year US. Treasurys rose to 1.602%. It had ended Friday at 1.551%, its highest since February 2020.
What’s Coming Up
—Earnings are due from
Casey’s General Stores,
Del Taco Restaurants
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
Apollo Global Management
shares jumped 5.2% premarket.
is merging with Apollo, the companies said, in a deal that would value the retirement-services company at about $11 billion in stock.
shares added 1.5% 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.
added 2.2% premarket. The company is nearing a $30 billion-plus deal to combine its aircraft-leasing business with Ireland’s
according to people familiar with the matter.
shares soared 13.2% premarket. The digital-security company said it has agreed to sell its enterprise business to a consortium led by Symphony Technology Group in an all-cash deal valued at $4 billion.
climbed 2.1% premarket.
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
was “superior.” Lumentum slipped 2.2% and II-VI fell 3.1%.
shares are sliding again, down 1.9% premarket.
Zoom Video Communications
fell 2.5% and
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.
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