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
fell 4.7%.—
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.
A woman carries Nike shopping bags in Commerce, Calif., December 3, 2020.
Photo:
lucy nicholson/Reuters
Market Fact
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.
Must Reads Since You Went to Bed
Congress Reaches Final Agreement on Pandemic Relief
U.K. Assets Fall Over Deadlocked Brexit Talks, New Lockdowns
Shell Signals Another Poor Quarter for Oil MajorsBrewers, Restaurants, Federal Workers Set for Tax Wins in Congressional Deal
Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8