S&P 500 futures point lower in the market opening.
Here’s what we’re watching ahead of the opening bell on Monday.
Stocks are looking for a pull back from last week’s record highs. Futures tied to the S&P 500 edged down 0.1% after the benchmark stocks gauge posted its 20th all-time closing high of 2021 on Friday. Futures such as Nasdaq-100 index were down 0.2%.
What Will Happen in the Market
After the opening bell, software firm Simulations Plus is due to report for the fourth quarter.
Earnings season soars high in earnest later this week with reports from JPMorgan Chase, Bank of America and Pepsi.
Market Movers Watchlist
The shares of Alibaba in Hong Kong surged up to 6.5%, adding nearly $40 billion in market cap, after it was fined by the Chinese government. Investors accepted the clarity over the company’s future after fines were announced.
Nuance Communications is up nearly 23% after it agreed to a $19.7 billion buyout by Microsoft. The software giant will pay US$56 per share in cash for the transcription software firm. Nuance shareholders may have been in an upper hand from the deal including hedge funds like Coatue Management, which has a 5.8% holding, according to FactSet, and GameStop victim, Melvin Capital Management with 3.5%.
Plug Power stumbled at 2.6% premarket after Morgan Stanley reduced its rating on the fuel cell provider.
The founder of Silicon Valley veteran Peter Theil is up 2.9% during the pre market and attracting more debate coming from Reddit users on WallStreetBets.The stock was down more than 40% between early February and late March, but somehow rebounded in the past three days.
Editas Medicine, up 3.1% premarket is getting some Reddit attention.
Nasdaq-listed Aphria Inc, the US$5 billion cannabis grower, tumbled 8.2% premarket after a disappointing third quarter Monday Morning earnings.
Being is down 0.7%. In just over a week’s time, shareholders will be having an election on whether a series of board changes made in the past two years are enough to help restore trust and confidence in the aerospace group after tragic crashes for its 737 MAX planes and other issues.
According to Morningstar, during the last week of February, 40 mutual funds reported total returns of at least 100% over the prior 12 months. Among exchange-traded funds, 59 had one-year returns greater than 100% at the end of February; one month later, according to FactSet, 218 did.
The U.S. companies dropped 3.15% as of March with respect to speculative-grade loans, according to S&P Global Market Intelligence’s LCD. That is the lowest level since last April and down from the measure’s 10-year peak in September at 4.17%.
Chart of the Day
Prices are surging in terms of raw materials, leading to a higher cost for companies from home builders to clothing makers. If history repeats itself, then that will be a boon to corporate bottom lines and investors as well.
From a simple abacus to a complex supercomputer. Surely, technology is still in it’s developing stage and we as consumers are benefiting much from it. Not only that it strengthens our security system, but also the comfort of having a driverless delivery system. In order to enjoy your full business and finance news viewing experience and updates, watch the latest news on a good monitor such as Apple TV 4K HD 32GB or Apple iPad Pro (32GB, Wi-Fi, Space Gray) 12.9in Tablet (Renewed).