Here’s what we’re looking at before Friday’s trading begins.
–US futures rise, which puts the S&P 500 on track for its best week in three months, on investors’ bets that a new spending package for coronavirus relief will strengthen the economy.
Futures linked to the S&P 500 rose 0.5%, contracts linked to the technology-heavy Nasdaq-100 rose 0.2% and Dow futures rose 0.5%. Read our full market cover.
“U.S. employers added 49,000 jobs last month, the Labor Department said Friday, bringing labor market growth back to a one-month downturn. The unemployment rate fell to 6.3%.
What’s up
—The counter of Baker Hughes, a proxy for activities in the oil sector, is available at 1 p.m. U.S. consumer credit data for December is available at 3 p.m.
Market shifters to look at
—Robinhood has lifted its trade restrictions on GameStop,
GME 35.61%
with 8.2% pre-market, and AMC Entertainment,
AMC 3.97%
5.1% higher. But they will have to move much further to overcome yesterday’s decline of 42% and 21% respectively. Follow this link for our live blog about the action.
–Pinterest and Snap are jumping in opposite directions after the platforms added millions more users than expected in their most recent quarters, showing strong growth in social media usage during the pandemic. Pinterest PINS 5.72%
shares rose more than 10% before the clock, while Snap SNAP 5.45%
shares fell by 6.2%.
– Johnson & Johnson JNJ 1.46%
got a shot at the forex market after it asked regulators to allow the use of the Covid-19 vaccine emergencies. Its shares added 2.1%.
– Activision Blizzard ATVI 10.25%
The results provided more evidence that people were wasting time by the pandemic playing video games. The manufacturer’s shares rose more than 10% ahead after holiday sales and the revenue outlook were above expectations. KeyBanc raised its price target on the stock from $ 102 to $ 120.
—Pandemic Favorite Peloton PTON -8.55%
The stock fell 6.3% after sales and subscriptions more than doubled in the most recent quarter, despite the long delays in shipping that the company promised to address as prospective customers exhausted their anger online.
Peloton Interactive stationary bikes are on sale Wednesday at the company’s showroom in Dedham, Massachusetts.
Photo:
Adam Glanzman / Bloomberg News
– T-Mobile US TMUS -3.15%
shares lost 1.9% ahead of the market after the wireless provider said the nearly-year-old merger with Sprint would saddle the combined company with more costs this year as its engineers moved more subscribers to one network.
—Shares of cosmetics manufacturer Estee Lauder EL 8.70%
increased 5.6% pre-market. Its profits and sales have risen for the past quarter, better than the sales it expected, as it recorded profits from the Asia-Pacific region and online sales.
– Ford F 1.36%
the shares rose 4.2% before the opening period after the Detroit automaker said earnings were dipped in the fourth quarter by lower trucks, promising to nearly double its investment in electric and driverless cars.
—Shares of Gilead Sciences GILD 3.05%
added a 2.5% lead market after the drugmaker said demand for Veklury, its treatment for some Covid-19 patients, was helping to increase sales in the fourth quarter.
Markfeit
The company said on Thursday that the average daily trading volume on Tradeweb’s online trading platform was $ 1 billion. It was the busiest month on record and beat in 2020 when investments plunged into the security of government debt.
Chart of the day
Alibaba Group has sold $ 5 billion worth of bonds, showing that investors are eager to support the Chinese e-commerce giant despite the recent run-up to authorities.
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