This is what we will look at before Monday’s trading action starts.
US stock futures rallied, with technology stocks poised to turn a profit.
Futures linked to the S&P 500 contributed 0.2%. Contracts for the technology-focused Nasdaq-100 were up 0.7%. Read our full market turnaround.
What is coming
The income is due from BioLife Solutions BLFS -2.99%
after markets close.
Sell existing homes in the US., expected at 10 a.m. ET, are expected to fall to an annual pace of 6.5 million in February from 6.69 million a month earlier.
Market movers to keep an eye on
– Kansas City Southern KSU 12.60%
shares shot 16% higher premarket after rival Canadian Pacific CP -3.90%
agreed to acquire the railroad company in a merger worth approximately $ 25 billion, creating the first freight rail network connecting Mexico, the US and Canada. Canadian Pacific shares fell 2.2%.
A Kansas City Southern locomotive ran through Knoche Yard in Kansas City on January 7, 2020.
Photo:
Whitney Curtis / Bloomberg News
—Fellow railway operator CSX CSX 3.21%
seemed to benefit from the industry focus, with stocks adding 4.1% premarket.
—Shares of Support.com
SPRT 241.12%
a technical support services and cloud-based software company with a market cap of approximately $ 41 million, shot up a 275% premarket after it entered into a merger agreement with Greenidge Generation.
– Synnex SNX 7.30%
jumped 12% premarket. The IT provider agreed to merge with Apollo Global Management APO 2.77%
Tech Data in a deal worth $ 7.2 billion, including debt. After closing, Synnex will receive the quarterly results.
– Tesla TSLA 4.72%
stocks are up 3.9% before the bell. Tesla’s Technoking Elon Musk told a high-level conference in China on Saturday that the company would never provide the U.S. government with data collected by its vehicles in China or other countries. His insurance came after the Chinese government’s decision to restrict the use of Tesla cars by military personnel or employees of major state-owned companies.
Market fact
The Dow Jones Transportation Average marked its seventh consecutive week of gains on Friday. It is the longest winning streak since the week ending March 18, 2016, when the market rallied for nine weeks.
Chart of the day
Investment-grade corporate bond yields from companies, including Amazon, are getting off to their second worst on record.
Must read since you went to bed
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High-income tax avoidance much greater than expected, new paper estimates
Companies offer investors a glimpse of employee turnover
Cruise lines fear another summer lost
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