Here’s what we’re looking for before Monday’s trading action begins.
–US futures have gone up, with technology stocks leading to gains.
Futures linked to the S&P 500 added 0.2%. Contracts for the technology-oriented Nasdaq-100 increased by 0.7%. Read our full market cover.
What’s up
–Earnings are due from BioLife Solutions BLFS -2.99%
after markets closed.
–US sales for existing homes, is expected at 10:00, is expected to drop to an annual rate of 6.5 million in February from 6.69 million a month earlier.
Market shifters to look at
– Kansas City Southern KSU 12.59%
shares shot 16% higher after market rival Canadian Pacific CP -3.89%
agreed to acquire the railroad company in a $ 25 billion merger that would create the first freight rail network connecting Mexico, the United States and Canada. Canadian Pacific shares slipped 2.2%.
A Kansas Southern locomotive ran through Knoche Yard in Kansas City on January 7, 2020.
Photo:
Whitney Curtis / Bloomberg News
—Co-rail operator CSX CSX 3.23%
appears to be benefiting from the focus on the sector, with its shares adding 4.1% upside.
—Shares of Support.com,
SPRT 240.65%
a technical support services and a cloud-based software industry with a market capitalization of approximately $ 41 million, the pre-market rose 275% higher after entering into a merger agreement with Greenidge Generation.
– Synnex SNX 7.30%
jumped 12% pre-market. The IT provider has agreed to merge with Apollo Global Management APO 2.79%
‘s Tech Data in a $ 7.2 billion deal, including debt. Quarterly results are provided after the closure of Synnex.
– Tesla TSLA 4.70%
the shares are 3.9% higher than the clock. Tesla cartoonist Elon Musk said at a high-level conference in China on Saturday that the company would never provide data from the U.S. government collected by its vehicles in China or other countries. His assurance comes after the Chinese government’s decision to restrict the use of Tesla cars by military personnel or employees of major state-owned enterprises.
Markfeit
The Dow Jones Transportation Average averaged its seventh consecutive week on Friday. This is the longest winning streak since the week that ended on March 18, 2016, when the market rose for nine consecutive weeks.
Chart of the day
Returns on investment-grade corporate bonds from companies, including Amazon, started the second worst.
Must read since you went to bed
GameStop releases first earnings report since Reddit-powered stocks
Turkish lira falls after Erdogan fires central bank chief
High-income tax avoidance, much greater than expected, new newspaper estimates
Companies offer investors a look at employee turnover
Cruise Lines fears another lost summer
Copyright © 2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8