Here’s what we’re watching ahead of Tuesday’s opening bell.
- U.S. stock futures rose, pointing to gains for major indexes at the opening bell after worries about inflation weighed on markets Monday.
- Technology stocks look set to lead the way. Futures for the Nasdaq-100 were up 0.7%. Contracts for the S&P 500, meanwhile, were up 0.3%.
- Oil and copper prices were higher, the dollar weaker and yields on 10-year Treasury notes up to 1.648% from 1.639% Monday. Read our full market wrap here.
What’s Coming Up
- Data on U.S. housing starts are due at 8:30 a.m. ET. Starts rose to a nearly 15-year high in March but builders have complained of rising lumber costs and difficulty finding workers.
- Earnings are due before the open from
will report after the close.
Market Movers to Watch
shares fell 3.4% before the bell. The telecom giant on Monday said it would spin off its media empire into a new venture with Discovery, one of the biggest about-faces in corporate deal history.
shares edged down 0.2% premarket after losing 5.1% Monday in a volatile session for the entertainment stock.
rose 2.3% premarket. On Monday, the firm agreed to sell its retirement and investment business in Germany in a bid to allay European antitrust concerns over its $35 billion deal to merge with Willis
to create the world’s largest insurance broker.
- Perennial premarket mover
gained 1.8%. Analysts at
and B. Riley Securities cut their target price for the stock on Monday. If one stock captures the bizarro world of finance in the past year, it is forklift fuel-cell maker Plug Power, Streetwise columnist James Mackintosh wrote in March.
rose 5.2%. Analysts at
advised clients to buy shares of the database company last week.
gained 1.5%. Following the Colonial Pipeline ransomware attack, some analysts said cybersecurity firms would benefit from an increase in spending on security vendors.
- Shares of Chinese tutoring companies took a dive after a report Thursday that China may introduce tough rules in June on the country’s private tutoring sector. Shares of New York listed TAL Education dropped 11% on Thursday, while New Oriental Education fell 14% the same day.
- Front-month Nymex crude for June delivery on Monday hit its highest settle value since April 23, 2019, as it gained 90 cents per barrel, or 1.4% to $66.27.
- On this day in 1553, one of the earliest business ventures financed by selling stock to the public was launched. Three ships—the Bona Speranza, the Edward Bonaventure, and the Bona Confidentia—set out from Gravesend in England seeking “discoverie of new trades northe warde” in Russia. The Russia Company earned no money for at least three decades and many of its investors died without receiving a dividend.
Chart of the Day
- More than a year into the pandemic, high-rise office buildings are largely empty. About one of every two hotel rooms is unoccupied. Malls are struggling to attract shoppers. And yet by most measures, the U.S. commercial real-estate market is in remarkably solid shape.
Must Reads Since You Went to Bed
Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8