Tesla, Sarepta, Boeing: What to Watch When the Stock Market Opens Today
January 08 2021 - 8:27AM
Dow Jones News
By James Willhite
Here's what we're watching ahead of the opening bell on
Friday.
-- U.S. stock futures ticked higher, with contracts tied to the
S&P 500 up 0.3% a day after the broad-market index notched its
first all-time closing high of 2021. Nasdaq-100 futures added 0.5%,
suggesting tech shares would also build on Thursday's recovery.
Investors have largely focused on prospects for additional
government spending once Democrats achieve a unified government
after President-elect Joe Biden is sworn in.
What's Coming Up
The U.S. jobs report for December is due at 8:30 a.m. ET. Job
growth has slowed in recent months as cold weather, rising Covid-19
infections and lockdowns took the wind out of a nascent recovery --
and those factors are expected to have weighed heavily last
month.
A slew of blank-check companies are joining the market Friday,
including Epiphany Technology Acquisition and SoftBank's SVF
Investment.
Market Movers to Watch
-- Shares of Sarepta Therapeutics dropped more than 48% in
off-hours trading after mixed results from a study of a drug
targeting a form of muscular dystrophy.
-- Tesla's shares are up 4.6% premarket, after yesterday's
almost 8% jump made Elon Musk the richest man in the world, pushing
him ahead of Amazon's Jeff Bezos.
-- U.S.-listed shares of another electric-car maker, China's
Nio, bounced 5% higher premarket.
-- Micron Technology's shares jumped 3.8% premarket. KeyBanc
raised its price target to $121 from $82 a share. They closed
yesterday at $79.11.
-- Software company Duck Creek Technologies reported a bigger
quarterly loss than a year ago while its net sales climbed by more
than a quarter. Its shares inched down 0.2% premarket.
-- Boeing shares slipped 0.4% ahead of the bell. The plane maker
will pay $2.5 billion to resolve a criminal probe as it admitted
that employees deceived aviation regulators about safety issues
leading to two deadly crashes of the 737 MAX.
Market Fact
U.S. government-bond yields rose faster than many expected after
Democrats won control of the Senate. The yield on the 10-year U.S.
Treasury note closed at 1.07% Thursday, according to data from
Tradeweb.
Chart of the Day
Bitcoin continued its blistering start to 2021, crossing $40,000
for the first time on Thursday.
Must Reads Since You Went to Bed
Rental Home Construction Climbs as Purchase Prices Surge
China Takes Its Pigs to the Futures Market
Jobs in 2030: Health Care Booms, Employers Want More
Blacklisted Chinese Telecoms Carriers Cut From Stock Indexes
SoFi to Go Public Through $8.7 Billion Blank-Check
Combination
For Bankers, 2020 Was a Bad Year to Have a Good Year
(END) Dow Jones Newswires
January 08, 2021 08:12 ET (13:12 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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