U.S. stock futures wobbled, suggesting that the S&P 500 will hover close to its record at the opening bell following the long holiday weekend. Here’s what we’re watching before Tuesday’s trading heats up.
- Love is in the air: Match Group shares shot 9.9% higher premarket after S&P Dow Jones Indices said Friday the company will join the S&P 500 index before trading begins on Sept. 20., along with Brown & Brown and Ceridian HCM Holding. But Cupid’s arrow was having a lesser effect on the latter two firms: Brown & Brown was flat and Cerdian HCM added 0.2%.
- Bitcoin prices were down 1.7% from their 5 p.m. ET level on Monday. El Salvador became the first country in the world to adopt bitcoin as legal tender on Tuesday, allowing Salvadorans to use the cryptocurrency to buy a cup of coffee, get a haircut or even pay taxes and home loans. But even if the crypto itself is inching lower, it seems investors in Coinbase Global like the idea: Its shares ticked up 0.4%.
- U.S.-traded shares of Spotify climbed 4.2% premarket. The stock was given an upgraded rating and a price target of $340 a share from Keybanc, after having closed Friday at $249.04.
- Carrier Global slipped 1.4% premarket. The air conditioning and building automation company finalized its acquisition of China-based HVAC maker Guangdong Giwee Group.
- Meme stock extraordinaire AMC Entertainment was ticking higher premarket, up 2.3%. GameStop added a less impressive 0.4%.
- BioMarin Pharmaceutical shares dropped 9.1% ahead of the bell. The U.S. Food and Drug Administration placed a clinical hold on one of its gene therapy studies. The company is also pausing additional enrollment of participants outside the U.S.
- Boeing is losing a bit of altitude ahead of the bell, slipping 0.6%. Ryanair, Boeing’s biggest customer outside of the U.S., said it is walking away from talks with the U.S. jet maker over a potential new order for the 737 MAX in a dispute over pricing.
- Casey’s General Stores, Smartsheet and Coupa Software are due to report earnings after Tuesday’s close.
Chart of the Day
- High-interest loans to house flippers are a hot commodity on Wall Street, but inventory is scarce.
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September 07, 2021 at 06:26PM
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Bitcoin, Match, Spotify: What to Watch When the Stock Market Opens Today - The Wall Street Journal
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