Tesla, Sarepta, Boeing: What to Watch When the Stock Market Opens Today

 Tesla, Sarepta, Boeing: What to Watch When the Stock Market Opens Today

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Here’s what we’re watching ahead of the opening bell on Friday.

U.S. stock futures ticked higher, with contracts tied to the S&P 500 up 0.3% a day after the broad-market index notched its first all-time closing high of 2021. Nasdaq-100 futures added 0.4%, suggesting tech shares would also build on Thursday’s recovery. Investors have largely focused on prospects for additional government spending once Democrats achieve a unified government after President-elect
Joe Biden

is sworn in.

What’s Coming Up

The U.S. jobs report for December is due at 8:30 a.m. ET. Job growth has slowed in recent months as cold weather, rising Covid-19 infections and lockdowns took the wind out of a nascent recovery—and those factors are expected to have weighed heavily last month.

U.S. wholesale inventories for November, due at 10 a.m., are expected to fall 0.1% from a month earlier. The
Baker Hughes
rig count, a proxy for drilling activity, is due at 1 p.m., and consumer credit data are due at 3 p.m.

Market Movers to Watch

—Shares of
Sarepta Therapeutics
dropped more than 48% in off-hours trading after mixed results from a study of a drug targeting a form of muscular dystrophy.


Tesla
‘s shares are up nearly 4% premarket, after yesterday’s almost 8% jump made
Elon Musk

the richest man in the world, pushing him ahead of
Amazon
‘s
Jeff Bezos.

The headquarters of Sarepta Therapeutics Inc., in Cambridge, Mass.

The headquarters of Sarepta Therapeutics Inc., in Cambridge, Mass.

Photo: Kristoffer Tripplaar/Sipa USA/Associated Press

—U.S.-listed shares of another electric-car maker, China’s
Nio,
bounced nearly 5% higher premarket.


Micron Technology
‘s shares jumped 4.7% premarket. KeyBanc raised its price target to $121 from $82 a share. They closed yesterday at $79.11.

—Software company
Duck Creek Technologies
reported a bigger quarterly loss than a year ago while its net sales climbed by more than a quarter. Its shares inched down 0.2% premarket.


Boeing
shares slipped 0.4% ahead of the bell. The plane maker will pay $2.5 billion to resolve a criminal probe as it admitted that employees deceived aviation regulators about safety issues leading to two deadly crashes of the 737 MAX.

Market Fact

U.S. government-bond yields rose faster than many expected after Democrats won control of the Senate. The yield on the 10-year U.S. Treasury note closed at 1.07% Thursday, according to data from
Tradeweb.

Chart of the Day

Bitcoin continued its blistering start to 2021, crossing $40,000 for the first time on Thursday.

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