Mondelez, China Mobile, Micron: What to Watch When the Stock Market Opens Today
By Anna Hirtenstein
Here's what we're watching as markets kick into gear on
-- U.S. stock futures are ticking down as investors await the
outcome of two electoral races in Georgia that will determine
control of the Senate, suggesting that major indexes could take
back some of the losses suffered on the first trading day of 2021.
Read our full market wrap here.
What's Coming Up
-- Manufacturing data from the Institute for Supply Management
will be out at 10 a.m. ET and are expected to show an expansion in
December, although at a slower pace than the previous month.
-- Citigroup is hosting a virtual conference on the global
technology, media and telecommunications sectors. Executives from
Verizon, Entravision and Lumen Technologies are scheduled to speak
at the event.
-- Data-storage company Smart Global Holdings will be one of the
first to report earnings this year after markets close.
Market Movers to Watch
-- Reversal of fortune: The New York Stock Exchange scrapped a
plan to delist Chinese telecom stocks China Mobile, China Telecom
and China Unicom. Their U.S.-listed shares were surging
-- Snack-food giant Mondelez International is reportedly close
to buying Hu Master Holdings, a maker of paleo chocolate bars.
-- Bionano Genomics shares are down more than 23% in premarket
trading, after the biotech company surged over 100% on Monday. It
published a study on autism in the Journal of Personalized
Medicine, and has been one of the most actively traded stocks on
-- Shares of data-storage company Micron Technology are up 3.2%
premarket, on track to reverse Monday's decline.
-- TransDigm Group, a manufacturer of components for aircraft,
is up close to 5% premarket, nearly reversing Monday's 5% dip.
The Dow and the S&P 500 on Monday both notched their biggest
one-day declines since late October, retreating sharply from
records set just days ago.
Chart of the Day
U.S.-listed special-purpose acquisition companies, or SPACs,
raised $82 billion in 2020, a more-than-sixfold increase from the
year before and a figure greater than all of the money previously
raised, according to Dealogic.
Must Reads Since You Went to Bed
NYSE Scraps Plans to Delist Chinese Telecom Stocks
Georgians Vote in Runoff Races That Will Determine Senate
Mondelez Nears Deal to Buy Rest of Paleo Chocolate-Bar Maker
2020 SPAC Boom Lifted Wall Street's Biggest Banks
Amazon Banned From Using AWS Logo in China Trademark Ruling
(END) Dow Jones Newswires
January 05, 2021 09:08 ET (14:08 GMT)
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