This is what we look at as the markets open Monday for the first trading session of 2021.
–US stock futures rose hopes that continued government stimulus and the introduction of coronavirus vaccines will bode well for stocks. Futures pegged to the S&P 500 were up 0.4% on Monday, while contracts based on the Dow Jones Industrial Average were up 0.4%, indicating gains for both meters after the opening bell. Read our full market packaging here.
What is coming
– IHS Markit’s US manufacturing index for December comes out at 9:45 a.m.ET.
—US construction spend for November, due at 10:00 am, is expected to increase 1.1% from the previous month.
Market movers to keep an eye on
– Tesla TSLA 1.57%
shares were up 2% premarket. Sales of the electric vehicle manufacturer surged in 2020 despite a drop in global demand for new cars during the Covid-19 pandemic. Tesla said Saturday it delivered a record number of 499,550 vehicles worldwide last year, up from about 367,500 the year before.
Motorists charge their vehicles at a Tesla supercharging location, December 30, 2020, in Limon, Colo.
Photo:
David Zalubowski / Associated Press
—Roku gained 2.3% in premarket trading after The Wall Street Journal reported that Quibi is in advanced talks to sell its content catalog to Roku as the short streaming service shuts down after a failed run.
Shares in The9 Ltd.,
NCTY 3.51%
an internet company based in China, rose more than 50% premarket after the company said it signed an investment form with investors to start a cryptocurrency business.
– Stocks listed on the US stock exchange of the three major telecom companies in China fell to the market after the New York Stock Exchange delisted the trio in compliance with a US government ban. Shares in China Mobile CHL 0.88%
fell 4.3%, China Telecom CHA -0.04%
fell 5.6% and China Unicom CHU -1.56%
decreased by 3.9%.
—Bitcoin fell more than 6% against the dollar on Monday, trading close to 1 bitcoin by buying $ 31,130.69. Bitcoin surged in the last two months of 2020 as a series of well-known investors and companies revealed bitcoin holdings.
—Shares in FLIR Systems FLIR 0.05%
rose more than 20% after Teledyne Technologies agreed to buy FLIR in a cash-and-stock deal worth approximately $ 8 billion.
– Calithera Biosciences CALA -3.91%
declined more than 50% pre-market after a cancer treatment in development failed to meet the primary endpoint in a study. In response to the results, the company said it will cut about 35% of its workforce.
Market fact
The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite hit more than 100 records to close in 2020. The Dow rose 7.2% for 2020, the S&P 500 jumped 16% and the Nasdaq was up 44%. The Russell 2000 index of small cap stocks gained 18%.
Chart of the day
Investors have ended one of the wildest years ever on Wall Street by piling on everything from bitcoin to emerging markets, raising expectations that a powerful economic comeback will yield even more gains.
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