JPMorgan, Palantir, Poshmark: What to Watch When the Stock Market Opens Today
January 15 2021 - 7:39AM
Dow Jones News
By James Willhite
Here's what we're watching ahead of Friday's opening bell.
-- U.S. stock futures edged lower as some investors grew
concerned that President-elect Joe Biden's $1.9 trillion Covid-19
relief plan could lead to higher taxes.
Futures tied to the S&P 500 fell 0.4%, putting the benchmark
on course to decline for a second day. Contracts tied to the
Nasdaq-100 edged less than 0.2% lower and those linked to the Dow
Jones Industrial Average slipped 0.4%. Read our full market wrap
here.
What's Coming Up
-- Corporate earnings season kicks into high gear with updates
due before the bell from Citigroup and Wells Fargo.
Retail sales for December are due at 8:30 a.m. ET, and a
preliminary reading of consumer sentiment is due at 10 a.m. Both
are expected to register small drops.
Market Movers to Watch
-- JPMorgan shares wavered near the flatline premarket after it
became the first of the big U.S. banks to deliver results for the
recent quarter.
-- Shares of Blackberry jumped more than 20% premarket. The rise
comes after the maker of the eponymous device from technology days
of yore, now a security software and services company, saw its
stock climb more than 20% on Thursday. Earlier this week Canada's
the Globe and Mail reported the company had sold 90 patents to
Huawei. No word on whether " Blackberry thumb" is going to become a
thing again.
-- Online resale marketplace Poshmark's shares edged down 1.5%
premarket, holding on to most of the prior day's gains, when its
stock soared more than 140% in its trading debut.
-- Shares of Palantir Technologies are up more than 7%
premarket, as investors appear unmoved by yesterday's downgrade of
the stock from Citibank.
-- Business-application software firm Progress Software reported
higher-than-expected adjusted earnings and revenue for its most
recent quarter. Its shares ticked down 0.5% premarket.
Market Fact
Smartphone giant Xiaomi's Hong Kong-listed shares fell almost
14% Friday before closing 10% lower, after the company became the
latest Chinese technology group to be targeted by the Trump
administration, with its surprise addition to an investment
blacklist.
Chart of the Day
The world's fastest Covid-19 vaccination rollout is drawing
investors to Israel, making its stock market one of the top
performers in 2021.
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(END) Dow Jones Newswires
January 15, 2021 07:24 ET (12:24 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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