Roku, Lennar, Bitcoin: What to Watch When the Stock Market Opens Today
18 December 2020 - 1:30AM
Dow Jones News
By Mischa Frankl-Duval
Here's what we are watching as markets kick into gear Thursday.
-- U.S. stock futures rose as investors cheered signs of progress
toward a fresh stimulus package. New data showed 885,000 people
made initial jobless claims last week, more than economists had
expected. It marked a second consecutive week of increases, and
suggested the economy was entering a winter slowdown.
Futures tied to the S&P 500 rose 0.4%, suggesting the
benchmark stocks gauge may rise for a third-straight day at the
opening bell. The S&P 500 closed at its second-highest level
ever on Wednesday. Futures tied to the technology-focused
Nasdaq-100 gained 0.5%.
The dollar is extending its recent decline after most Fed
officials yesterday projected interest rates will stay near zero
for at least three years.
What's Coming Up
-- FedEx will report its quarterly earnings after the close.
-- The Kansas City Fed's manufacturing survey for December, due
at 11 a.m., is expected to fall to 10 from 11 a month earlier.
Market Movers to Watch
-- Roku shares jumped 6.2% premarket after the company reached a
deal on Wednesday with AT&T Inc.'s WarnerMedia to carry the HBO
Max streaming service, ending an eight-month standoff between the
companies.
-- Shares of homebuilder Lennar 3.5% before the bell after the
company said it expects first-quarter home deliveries and new
orders to be better than analysts are predicting.
-- Accenture shares rose 6.3% after the consulting firm posted
profit and revenue that beat analysts' expectations.
-- Moderna stock rose 0.5% in offhours trade. The chairman of a
federal vaccine-advisory committee said the panel is likely to
recommend that the Food and Drug Administration grant an
emergency-use authorization for the company's new Covid-19 vaccine
when the panel meets Thursday.
Market Fact
-- Bitcoin surged another 7.6% Thursday to $22,857, according to
CoinDesk, part of a furious rally that has seen the digital
currency nearly triple this year.
Chart of the Day
Research shows that companies and governments that borrow using
so-called green bonds can save a bit of money. The market for these
bonds, which fund environmental objectives such as renewable power,
is booming.
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(END) Dow Jones Newswires
December 17, 2020 09:15 ET (14:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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