FedEx, Tesla, Five9: What to Watch When the Stock Market Opens Today
December 18 2020 - 7:32AM
Dow Jones News
By Mischa Frankl-Duval
Here's what we are watching as markets kick into gear
Friday.
-- U.S. stock futures traded close to the flatline as investors
monitored whether Covid-19 infections and worsening economic data
would push lawmakers to cement a coronavirus-aid package.
Futures tied to the S&P 500 rose 0.1%, suggesting the
benchmark stocks gauge will open relatively unchanged after
notching another record close Thursday. Futures tied to the
technology-focused Nasdaq-100 were flat.
Read our full market wrap here.
What's Coming Up
Darden Restaurants is due to report quarterly earnings before
markets open. Nike will give its update after the closing bell.
The Conference Board publishes its index of leading economic
indicators at 10 a.m. ET.
Market Movers to Watch
-- FedEx shares dropped 2.9% premarket despite the company
reporting higher revenue and profits.
-- Remote medical technology company BioTelemetry jumped almost
16% after Philips agreed to acquire it. -- Cloud contact center
software provider Five9 rose 4.4% premarket. Morgan Stanley
yesterday raised its price target on the stock.
-- Tesla shares were flat in offhours trading, having risen more
than 5% on Thursday. The company enters the S&P 500 index on
Monday, a move that will likely trigger frenzied trading.
Market Fact
The Dow, S&P 500 and Nasdaq all reached both intraday highs
and closing records Thursday. Nine of the 11 major S&P 500
sectors notched gains, with some of the biggest advances coming out
of the health-care, technology and real-estate sectors.
Chart of the Day
Companies controlled by private-equity firms recently have
borrowed heavily to pay dividends to their owners. The payouts can
load their companies' balance sheets with heavy debt at a
precarious moment.
Must Reads Since You Went to Bed
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Without Washington
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Vaccine Thaw
Eaton's CFO Looks Back on 71 Acquisitions, 50 Sales Over His
Tenure
U.S. Blacklists China's Top Chip Maker, Escalating Tech
Fight
How Covid-19 Has Reshaped the Economy's Balance Sheet
(END) Dow Jones Newswires
December 18, 2020 07:17 ET (12:17 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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