Friday, January 22, 2021
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Alibaba, General Dynamics, Altimar: What to Watch When the Stock Market Opens

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Here’s what we’re watching as markets kick into gear Thursday.

U.S. stock futures edged higher Thursday, suggesting that the Dow Jones Industrial Average might end the holiday-shortened week on a flat note.

Futures tied to the Dow ticked up 0.1%. Futures linked to the S&P 500 also gained 0.1%, as did those on the technology-focused Nasdaq-100 index edged up 0.1%.

Read our full market wrap here.

What’s Coming Up

Shares of special-purpose acquisition company Ventoux begin trading today. The company, focused on hospitality, leisure, travel and dining, will trade under the ticker VTAQU.

Market Movers to Watch

American depositary receipts for Alibaba fell 9.9% premarket. Hong Kong-listed shares of the company fell 8.1%, extending a recent pullback, as China stepped up pressure on the e-commerce giant and its billionaire co-founder,

Jack Ma.

General Dynamics rose 1% premarket. The aerospace and defense company’s land-systems unit has been awarded a $4.6 billion contract to produce tanks for the U.S. Army.

Shares in blank-check company Altimar rose more than 8% premarket on news that Owl Rock Capital Partners and Dyal Capital Partners plan to go public through a merger with the vehicle.

SolarEdge rose 1.2% before the bell. The company yesterday named SehWoong Jeong as chief executive of its subsidiary, Kokam, which provides lithium-ion battery cells, batteries and energy-storage solutions.

Shares in Alibaba tumbled Thursday.

Shares in Alibaba tumbled Thursday.

Photo: Qilai Shen/Bloomberg News

Market Fact

The S&P 500 trades at 22 times analysts’ expected earnings—its most expensive level since the dot-com bubble. It also trades at its richest multiple to its inflation-adjusted earnings over the past decade—the valuation method popularized by economist

Robert Shiller
—in nearly 20 years.

Chart of the Day

U.S. farmers make their living raising crops from the soil each year. Now, some are getting paid for putting something back into their fields: carbon.

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