Saturday, July 31, 2021
HomeNewsDidi, BioNTech, Carnival: What to Watch When the Stock Market Opens Today...

Didi, BioNTech, Carnival: What to Watch When the Stock Market Opens Today – News


Here’s what we’re watching ahead of the open Friday.

  • Futures tied to the S&P 500 edged 0.4% higher, indicating that the broad market index will rebound slightly at the opening bell following its worst one-day retreat since June 18.
  • Tech heavy Nasdaq futures were pointed slightly lower, down 0.1%
  • Dow Jones Industrial Average futures ticked up 0.6%. The blue-chips gauge ended Thursday down almost 1.1% for the week. Read our full market wrap here.
What’s Coming Up
  • Metal coatings firm AZZ Inc is scheduled to report earnings ahead of the opening bell.
  • The Baker Hughes oil rig count is set to be released at 1 p.m. ET.
Market Movers to Watch
  • U.S.-listed Chinese technology companies rebounded in premarket trading after tumbling for several days following a probe by Beijing into data practices. Ride-hailing firm Didi Global rose over 3%, online grocer Pinduoduo also added 3% and video-sharing platform Bilibili rose 4.4%.
  • Carver Bancorp rose 27% premarket, a day after a stunning rise, when shares in one of the nation’s largest African-American-operated banks more than doubled.
  • Pfizer and BioNTech said they would ask for regulatory approval to distribute a Covid-19 booster vaccine. They are also developing an updated version of the shot designed to better protect against the Delta variant. Pfizer shares are up 0.7% premarket and BioNTech rose 4.1%.
  • Jeans label Levi Strauss advanced 2.9% after reporting earnings after hours Thursday. The company raised its full-year outlook above analysts’ projections and also increased its dividend.
  • Food delivery company DoorDash slid 2% in premarket trading. Several company insiders have sold tens of thousands of shares in recent days, according to filings.
  • Tobacco company Philip Morris bid $1.2 billion for Vectura Group, a U.K.-based developer of inhaled medicines. Vectura’s shares are up over 13% in London trading.
  • Cruise lines are rising. Royal Caribbean Group is up nearly 2% and Carnival added 2.4%. Looks like some investors bought the dip after both stocks lost around 8% for the week at Thursday’s close.
Market Facts
  • The Dow Jones Transportation Average slid 3.3% on Thursday, the biggest daily drop in over eight months.
  • On this day in 1999, S&P 500 index closed above 1400 for the first time, less than four months after breaking through 1300. The index had doubled in less than three years.
Chart of the Day

A rally in junk bonds has pushed yields to record lows around 4.54%, according to ICE Bank of America data, while consumer prices rose 5% in May compared with a year earlier. That’s the first time on record junk-bond yields have dropped below the rate of inflation, according to Bespoke Investment Group.

Must Reads Since You Went to Bed

Write to [email protected]

Didi, BioNTech, Carnival: What to Watch When the Stock Market Opens Today Source link Didi, BioNTech, Carnival: What to Watch When the Stock Market Opens Today

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments