Take-Two, Occidental Petroleum, Moderna: What to Look for When the Stock Market Opens Today

This is what we will be looking at as the markets start moving on Tuesday.

US stock futures rallied higher investors cautiously welcomed the signs of progress in Washington’s economic aid package negotiations.

Futures pegged to the S&P 500 were up 0.7%, suggesting the benchmark could open higher after falling for the fourth consecutive day on Monday. Futures for the technology-heavy Nasdaq-100 index were down 0.8%.

Read our full market packaging here.

What is coming

—Nordson, which makes dispensing equipment for adhesives, sealants and coatings, reports its quarterly results after markets close.

—Data released at 9:15 a.m.ET is expected to show US industrial production surged in November as a result of strong automotive demand.

Market movers to keep an eye on

– Take-Two interactive software TTWO 0.79%

rose 0.6% for the market, after a decline of no less than 2%. Rival video game publisher Electronic Arts Inc. said Monday it has reached a $ 1.25 billion deal to acquire Codemasters, which evaluated a previous Take-Two offer.

—Shares of Prevail Therapeutics Inc.

rose 95% in premarket trading after Eli Lilly & Co. agreed to buy the company for up to $ 1.04 billion, or $ 26.50 per share, in cash. – Occidental Petroleum OXY -0.68%

ticked 1.9% higher before the bell, after dropping more than 8% yesterday. Tesla will replace the oil company in the S&P 100 index.

FDA approval of Moderna’s injection could increase access to the Covid-19 vaccine in the US


Associated Press

—Apartment Investment & Management plummeted by more than 85% premarket. The company said today that it had split its operations into two separate, publicly traded companies, with some assets traded under the same ticker, the AIV.

Shares in Moderna were up 1.7% for the market. The Food and Drug Administration said on Tuesday that the Covid-19 vaccine is “very effective,” suggesting it may soon be added to the pandemic arsenal.

Market fact

—The best performing stock in the Stoxx Europe 600 index this year is Sinch AB, which connects businesses and consumers on smartphones. Shares are up 332% from Tuesday, practically surpassing Europe’s second-best performing meal package delivery service HelloFresh SE, at just 214%.

Chart of the day

Stock buyers have been picking up real estate company shares that have been defeated but will benefit from the eventual reopening of the economy.

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