Here’s what we are watching as markets kick into gear Monday.Futures tied to the S&P 500 dropped 1.7%, as a fast-spreading strain of coronavirus emerging from England prompted fresh travel restrictions, dealing another blow to prospects for the global economic recovery. Futures linked to the technology heavy Nasdaq-100 index fell 1.1%.
What’s Coming Up
joins the S&P 500 today after closing at its latest record high on Friday. Shares in the electric vehicle maker dipped 4.1% premarket.
Financial data provider FactSet publishes quarterly earnings today, as does industrial machinery maker
In Washington, Congress will look to move forward on legislation for a $900 billion Covid-19 relief plan that leaders agreed upon over the weekend.
Market Movers to Watch
— Shares in travel companies dipped premarket amid fears of further travel restrictions.
fell 4.6%, Southwest and United fell more than 4%, and Royal Caribbean shed 5.8%.
was off nearly 5%.— Energy companies declined in off-hours trading as oil prices fell nearly 5% on fears travel restrictions could curb demand.
fell almost 9%. Natural gas company
which has benefited from stay-at-home orders, jumped 4.6% premarket.
shares rose 5.7% in offhours trading. The sneaker and sportswear giant reported higher quarterly sales and profits when it updated investors after the market close on Friday.
— Shares in property-management-software provider
leaped more than 30% premarket on news that private-equity firm Thoma Bravo would buy it for $9.6 billion.
— Shares in Global Payments rose 3% premarket. The payments-technology company recently held unsuccessful merger talks with Fidelity National Information Services, the Wall Street Journal reported.
The British pound was on course for its steepest one-day fall against the U.S. dollar since the worst of March’s market rout as the continuing failure to arrive at a post-Brexit trade agreement and new measures in the U.K. to curtail the spread of Covid-19 weighed on British assets.
Chart of the Day
Tesla’s bull run has been so powerful that many bearish investors have abandoned their money-losing bets, sending short positions on the stock to a record low.
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