Here’s what we’re watching ahead of Monday’s opening bell.
Dow futures rose 0.4%, suggesting that blue-chip stocks in companies sensitive to the economic recovery will extend their gains. Contracts tied to the S&P 500 edged up 0.3%. Nasdaq-100 futures ticked 0.3% higher, pointing to muted gains for the technology sector. Read our full market wrap.
What’s Coming Up
—Earnings are due from Accel Entertainment and Desktop Metal before the open.
is scheduled to report after the close.
—The New York Fed’s Empire State manufacturing survey for March, due at 8:30 a.m. ET, is expected to rise to 15 from 12.1 a month earlier.
Market Movers to Watch
shares dropped 4.4% premarket. An experimental drug from the pharmaceutical firm modestly slowed the cognitive and functional decline of early-stage Alzheimer’s patients over 18 months in a small, midstage clinical study.
shares jumped 29% ahead of the bell.
said Monday that it signed a definitive merger agreement with GenMark in a deal valued at approximately $1.8 billion on a fully diluted basis.
climbed 6.3% premarket. S&P Indices said late Friday that the casino operator would be added to the S&P 500 effective March 22.
shares edged down 0.4% premarket, as investors offered a frosty shoulder to Chief Executive
‘s new official title, “Technoking of Tesla.” Finance Chief
was given the title “Master of Coin”—though both men will also retain their traditional C-suite positions.
—A broad index of pharmaceutical stocks has underperformed the S&P 500 by 6 percentage points so far this year.
Chart of the Day
In the coming months, banks are expected to free up tens of billions of dollars in reserves they set aside to cover soured loans—losses that still haven’t materialized a year into the pandemic.
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