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 0.3% 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.
What’s Coming Up
The U.S. jobs report for December is due at 8:30 a.m. ET. Job growth has slowed in recent months as cold weather, rising Covid-19 infections and lockdowns took the wind out of a nascent recovery — and those factors are expected to have weighed heavily last month.
U.S. wholesale inventories for November, due at 10 a.m., are expected to fall 0.1% from a month earlier. The Baker Hughes rig count, a proxy for drilling activity, is due at 1 p.m., and consumer credit data are due at 3 p.m.
Market Movers to Watch
— Shares of Sarepta Therapeutics dropped more than 48% in off-hours trading after mixed results from a study of a drug targeting at a form of muscular dystrophy.
— U.S.-listed shares of another electric-car maker, China’s Nio, bounced nearly 5% higher premarket.
— Micron Technology’s shares jumped 4.7% premarket. KeyBanc raised its price target to $121 from $82 a share. They closed yesterday at $79.11.
— 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 down 0.2% premarket.
— Boeing shares slipped 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.
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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(END) Dow Jones Newswires
January 08, 2021 07:15 ET (12:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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