Tesla, Sarepta, Boeing: What to Watch When the Stock Market Opens Today
January 08 2021 - 9:08AM
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 0.2% a day after the broad-market index notched its
first all-time closing high of 2021. Nasdaq-100 futures added 0.4%,
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.
The U.S. lost 140,000 jobs in December and the unemployment rate
was 6.7%, ending seven months of job growth and suggesting the
economy is weakening.
What's Coming Up
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 50% in
off-hours trading after mixed results from a study of a drug
targeting a form of muscular dystrophy.
-- Tesla's shares are up 4.7% 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 5.7% higher premarket.
-- Micron Technology's shares jumped 3.9% premarket. KeyBanc
raised its price target to $121 from $82 a share. They closed
yesterday at $79.11.
-- Shares of software company F5 Networks soared 8.6% in
off-hours trading. The company agreed to buy cloud-services
provider Volterra for about $440 million in cash in a bid to build
an edge platform for enterprises and service providers.
-- 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 up 0.7% premarket.
-- Boeing shares gained 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.
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Combination
For Bankers, 2020 Was a Bad Year to Have a Good Year
(END) Dow Jones Newswires
January 08, 2021 08:53 ET (13:53 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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