Bitcoin, Virgin Galactic, Moderna: What to Watch When the Stock Market Opens Today

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    Bitcoin, Virgin Galactic, Moderna: What to Watch When the Stock Market Opens Today

    Here’s what we’re watching ahead of Monday’s opening bell.

    • U.S. stock futures edged up and bond yields crept lower as investors grew more comfortable with the inflation outlook and the pace of the economic recovery.
    • Futures tied to the S&P 500 added 0.5%, pointing to a positive start to the week after the broad-market index fell moderately for two weeks in a row. Nasdaq-100 futures rose 0.8%, suggesting gains for technology stocks after the opening bell. Read our full market wrap here.
    • Bitcoin regained some ground after touching multi-month lows Sunday and traded around $37,000, a 5% rise from Friday at 5 p.m. ET.
    What’s Coming Up
    • Earnings are due from America’s Car-Mart CRMT 0.62% and Lordstown Motors RIDE -1.24% after the close.
    • An online conference hosted by CoinDesk starts Monday. Federal Reserve governor Lael Brainard speaks on digital currencies at 9 a.m. ET
    Market Movers to Watch
    • Virgin Galactic SPCE 6.36% shares soared 19% premarket. The space-travel company said it completed the first human space flight from New Mexico on Saturday.
    • Moderna MRNA -2.72% shares added 1.8% ahead of the bell. Over the weekend it reached an agreement with Samsung Biologics to produce Moderna’s Covid-19 vaccine.

    A healthcare worker from the El Paso Fire Department administered the Moderna Covid-19 vaccine in El Paso, Texas, May 7, 2021.

    Photo: jose luis gonzalez/Reuters

    • Cabot Oil & Gas COG 0.34% and Cimarex Energy XEC -0.50% said they would combine in a merger of equals. Shares of both companies slipped 1% premarket.
    • AMC Entertainment AMC -3.75% shares gained 1.6% premarket. The movie-theater chain’s largest shareholder, China’s Dalian Wanda Group, has sold most of its shares, according to a securities filing on Friday.
    • Nvidia NVDA 2.60% shares rose 1.2% premarket. The chip maker on Friday proposed a 1-for-4 stock split, the biggest in its history.
    • Target Hospitality TH 3.20% shares jumped 4.5% premarket after the provider of rental accommodations and catering services reported quarterly earnings and raised its outlook for the year.
    • Apple AAPL -1.48% shares edged up 0.6% premarket. Epic Games’ courtroom battle against Apple is expected to end Monday with a debate-style format in which the judge will drill each side with questions about their cases.
    • Splunk SPLK 1.54% shares rose 0.8% premarket. UBS on Friday lifted its rating of the cloud-software company’s stock from sell to neutral, though it also cut its price target.
    Market Facts
    • Investors that held on to footwear-and-apparel company VF Corp. shares for the past 10 years have seen total shareholder returns of almost 390%, more than seven times a basket of peers.
    • The median existing-home price rose to $341,600 in April, the highest on record, the National Association of Realtors said Friday. The annual price appreciation of more than 19% was the strongest in data going back to 1999.
    Chart of the Day
    • Sales of collateralized loan obligations, securities backed by bundles of risky corporate loans, are hitting records, lifted by a recovering economy and demand from yield-starved investors.
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    Published at Mon, 24 May 2021 12:33:00 +0000

    https://www.wsj.com/articles/bitcoin-virgin-galactic-moderna-splunk-what-to-watch-when-the-stock-market-opens-today-11621853470