Here’s what we’re watching as markets open Monday for the first trading session of 2021.
—U.S. stock futures rose on hopes that continued government stimulus and the rollout of coronavirus vaccines will bode well for equities. Futures tied to the S&P 500 rose 0.5% Monday, while contracts lined to the Dow Jones Industrial Average gained 0.5%, pointing to gains for both gauges after the opening bell. Read our full market wrap here.
What’s Coming Up
‘s U.S. manufacturing index for December is out at 9:45 a.m. ET.
—U.S. construction spending for November, due at 10 a.m., is expected to increase 1.1% from the prior month.
Market Movers to Watch
shares rose 2.2% premarket. The electric-vehicle maker’s sales soared in 2020 despite a drop in global demand for new cars during the Covid-19 pandemic. Tesla said Saturday that it delivered a record 499,550 vehicles globally last year, up from roughly 367,500 the previous year.
—Roku gained 2.7% 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-form streaming service winds down its operations following an unsuccessful run.
an Internet company based in China, rose more than 70% premarket after the company said it signed an investment term sheet with investors to start a cryptocurrency business.
—U.S.-listed shares of China’s three large telecom carriers fell premarket after the New York Stock Exchange moved to delist the trio to comply with a U.S. government ban. Shares in
fell 4.3% and
edged down 3%.
—Bitcoin fell more than 6% against the dollar Monday, trading near 1 bitcoin buying $31,076.01. Bitcoin rallied strongly in the last two months of 2020 as a string of well-known investors and companies unveiled bitcoin holdings.
fell more than 50% premarket after a cancer treatment under development failed to meet the primary endpoint in a study. In response to the results, the company said it will cut approximately 35% of its workforce.
The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite notched more than 100 record closes in 2020. The Dow rose 7.2% for 2020, the S&P 500 jumped 16% and the Nasdaq surged 44%. The Russell 2000 index of smaller-cap stocks gained 18%.
Chart of the Day
Investors ended one of Wall Street’s wildest years on record by piling into everything from bitcoin to emerging markets, raising expectations that a powerful economic comeback will fuel even more gains.