Eli Lilly, Twitter, NIO: What to Watch When the Stock Market Opens Today
January 11 2021 - 8:12AM
Dow Jones News
By James Willhite
Here's what we're watching ahead of the opening bell on
Monday.
-- Futures tied to the S&P 500 slipped 0.6%, indicating the
benchmark may fall from the all-time high it closed at on Friday.
Contracts tied to the Nasdaq-100 edged 0.5% lower and those linked
to the Dow Jones Industrial Average fell 0.7%.
Political rancor remains front and center, as the House may move
to impeach President Trump as soon as this week.
What's Coming Up
-- Atlanta Fed President Raphael Bostic speaks on the economic
outlook at 12 p.m., and Dallas Fed President Robert Kaplan speaks
at a virtual town hall at 6 p.m.
Investors say the recent rise in Treasury yields is raising
questions about how the central bank may respond. The yield on the
10-year Treasury note on Monday edged down to 1.101%, from 1.105%
Friday.
-- Ford and General Motors are presenting at the Morgan Stanley
Auto 2.0 Conference. Participants at the JPMorgan Healthcare
Conference will include Novartis, AstraZeneca and Regeneron
Pharmaceuticals.
Market Movers to Watch
-- Ahead of the bell, Twitter shares dropped 6.3%. The
social-media site permanently banned President Trump, perhaps one
of its most famous users. Facebook shut him out as well.
-- Eli Lilly shares jumped more than 14% premarket after it said
an experimental Alzheimer's drug helped patients in a small
trial.
-- Shares of Sarepta Therapeutics clawed back 6.8% premarket
after plummeting more than 50% on Friday.
-- U.S. listed shares of Chinese electric-car maker NIO extended
their recent climb, adding 10% premarket after Friday's more than
8% jump. The company on Saturday unveiled its fourth production
model.
-- Shares in Gilead Sciences rose 1.7% after the drug maker
raised its product sales expectations for 2020 as it said it sold
more remdesivir, the Covid-19 drug, amid a recent surge in
coronavirus cases.
-- Bitcoin prices on Monday are down more than 8% to trade below
$35,000. Just last week the volatile digital currency had been
trading north of $40,000.
Market Fact
While the Dow climbed 7.2% in 2020 and the S&P 500 wrapped
up the year with a gain of more than 16%, the average diversified
U.S. stock fund rewarded investors with a 19.1% increase.
Chart of the Day
Investors are showing signs of increasing exuberance, reflecting
optimism about a vaccine-fueled global recovery and the changed
economics of the post-coronavirus world.
Must Reads Since You Went to Bed
TikTok, Discord Are the New Wall Street Trading Desks
Ban on Chinese Stocks Prompts Banks to Delist Derivatives
Cold Snap Sparks Record Rise in Natural Gas Prices in Asia
Stripe Stops Processing Payments for Trump Campaign Website
(END) Dow Jones Newswires
January 11, 2021 07:57 ET (12:57 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Sep 2023 to Sep 2024