AMC, First Majestic Silver, Viela Bio: What to Watch When the Stock Market Opens Today
Here’s what we’re watching ahead of Monday’s opening bell.
—U.S. stock futures advanced, putting major benchmarks on course to recover some ground following their worst week since October. Silver prices shot 11% higher. Some stocks that have become popular with day traders continued to climb, though group leader
was edging down. For our live blog on the day-trading phenomenon, follow this link.
What’s Coming Up
—Earnings are due from
after the close.
—IHS Markit’s U.S. manufacturing index for January is out at 9:45 a.m. ET. The Institute for Supply Management’s manufacturing index for January, due at 10 a.m., is expected to fall to 60 from 60.7 a month earlier.
—U.S. construction spending for December, due at 10 a.m., is expected to increase 0.8% from the prior month.
Market Movers to Watch
shares slipped 2.6% premarket following their recent dizzying climb. Headphone maker
is up 5.6%, after Friday’s 53% jump. Some investors expect volatility to edge down this week as many hedge funds have already reduced short positions on stocks that have attracted attention online.
—Another day-trading favorite,
jumped 18% ahead of the bell, building on Friday’s 54% climb.
First Majestic Silver
rocketed more 38% higher, along with other silver producers who stand to benefit from higher prices.
International Flavors & Fragrances
shares gained more than 17% premarket.
said that it is completing the merger of IFF and its nutrition business on Monday.
shot 53% higher on news that it would be acquired by
Horizon’s shares slipped 0.7%.
gained 1.5% premarket and
added 1.2%. The oil giants discussed merging after the pandemic shook the world last year, according to people familiar with the talks.
Property Solutions Acquisition,
the blank-check company that is acquiring electric-vehicle maker Faraday Future, jumped 14% ahead of the bell.
Scientific shares gained 1.4% premarket after the analytical-equipment maker reported a sharply higher profit as the response to the Covid-19 pandemic boosted the company’s sales.
China’s short-term lending rates shot up to their highest levels in two years last week, with the weighted average of the one-day interbank collateralized repo hitting nearly 7% Friday. As recently as Jan. 22, it was only 2.5%.
Chart of the Day
So-called blank-check companies are a hit with individual investors looking for speculative trades.
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Dow Jones – AMC, First Majestic Silver, Viela Bio: What to Watch When the Stock Market Opens Today