Money

Disney, Tesla, General Electric: What to Watch When the Stock Market Opens Today

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

Casey’s General Stores,


CASY 3.11%

Stitch Fix


SFIX 4.43%

and

Del Taco Restaurants


TACO 1.41%

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

—Walt

Disney


DIS 1.04%

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.

Tesla


TSLA -3.78%

shares are sliding again, down more than 3% premarket.

General Electric


GE 0.29%

added 2.9% premarket. The company is nearing a $30 billion-plus deal to combine its aircraft-leasing business with Ireland’s

AerCap Holdings,


AER 1.62%

according to people familiar with the matter.

The General Electric logo on the company’s corporate headquarters in Boston,. July 23, 2019..



Photo:

alwyn scott/Reuters

Zoom Video Communications


ZM -1.65%

slipped 2.4% premarket. Other pandemic-era tech favorites were also down, including

Snowflake.


SNOW -3.72%

Market Fact

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.

Must Reads Since You Went to Bed

Chinese Stocks Slide, With a Major Index in Correction Territory

Quantum-Computing Startup IonQ Plans Public Debut in $2 Billion SPAC Merger

Greensill’s Clients Included West Virginia Governor’s Coal Company

Finance Chiefs Look to Price Increases to Offset Higher Commodities Costs

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Disney, Tesla, General Electric: What to Watch When the Stock Market Opens Today Source link Disney, Tesla, General Electric: What to Watch When the Stock Market Opens Today

Back to top button