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 1.4%. In the bond market, the yield on benchmark 10-year US. Treasurys rose to 1.594%. It had ended Friday at 1.551%, its highest since February 2020.
What’s Coming Up
—Earnings are due from
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
shares added 2.3% 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.
shares are sliding again, down more than 3% premarket.
added 2.9% 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.
slipped 2.4% premarket. Other pandemic-era tech favorites were also down, including
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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