Here’s what we’re watching ahead of the opening bell on Monday.
—Futures tied to the S&P 500 slipped 0.7%, indicating the benchmark may fall from the all-time high it closed at on Friday. Contracts tied to the Nasdaq-100 edged 0.7% lower and those linked to the Dow Jones Industrial Average fell 0.8%.
Political rancor remains front and center, as the House may move to impeach President Trump as soon as this week.
What’s Coming Up
—Atlanta Fed President
speaks on the economic outlook at 12 p.m., and Dallas Fed President
speaks at a virtual town hall at 6 p.m.
Investors say the recent rise in Treasury yields is raising questions about how the central bank may respond. The yield on the 10-year Treasury note on Monday edged down to 1.101%, from 1.105% Friday.
are presenting at the Morgan Stanley Auto 2.0 Conference. Participants at the JPMorgan Healthcare Conference will include
Market Movers to Watch
shares jumped more than 14% premarket after it said an experimental Alzheimer’s drug helped patients in a small trial.
clawed back 6.7% premarket after plummeting more than 50% on Friday.
—U.S. listed shares of Chinese electric-car maker NIO extended their recent climb, adding 11% premarket after Friday’s more than 8% jump. The company on Saturday unveiled its fourth production model.
rose 1.9% after the drug maker raised its product sales expectations for 2020 as it said it sold more remdesivir, the Covid-19 drug, amid a recent surge in coronavirus cases.
—Bitcoin prices on Monday are down more than 12% to trade below $34,000. Just last week the volatile digital currency had been trading north of $40,000.
While the Dow climbed 7.2% in 2020 and the S&P 500 wrapped up the year with a gain of more than 16%, the average diversified U.S. stock fund rewarded investors with a 19.1% increase.
Chart of the Day
Investors are showing signs of increasing exuberance, reflecting optimism about a vaccine-fueled global recovery and the changed economics of the post-coronavirus world.