Tesla, Roku, Bitcoin: What to Watch When the Stock Market Opens Today
04 Janeiro 2021 - 10:30AM
Dow Jones News
By Caitlin Ostroff
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
-- IHS Markit'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
-- Tesla 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.
-- Shares in The9 Ltd., 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 China
Mobile declined 3.3%, China Telecom fell 4.3% and China Unicom
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.
-- Shares in FLIR Systems rallied more than 20% after Teledyne
Technologies agreed to buy FLIR in a cash-and-stock deal valued at
approximately $8 billion.
-- Calithera Biosciences 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.
Market Fact
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.
Must Reads Since You Went to Bed
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Chinese Telecom Stocks Fall as U.S. Delisting Looms
Carl Icahn Sells More Than Half of His Herbalife Stake
Roku Nears Deal to Buy Rights to Quibi's Content
Risk Takers Bet Asset-Backed Bonds Will Catch Up
(END) Dow Jones Newswires
January 04, 2021 08:15 ET (13:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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