| What to watch today: Stocks set for a lower open after Dow closes at another record | | |  | WED, FEB 17, 2021 | | | | AS OF WED, FEB 17, 2021 • 08:54 ET | | Dow Jones Fut | | 31,522.75 | | Current: | 31,396.00 | | Change: | -62.00 | | Impl. Open: | -59.75 | | | S&P 500 Fut | | 3,932.59 | | Current: | 3,914.25 | | Change: | -13.50 | | Impl. Open: | -13.34 | | | NASDAQ 100 Fut | | 13,773.77 | | Current: | 13,669.50 | | Change: | -98.25 | | Impl. Open: | -96.27 | | | Russell 2000 Mini | | 2,272.89 | | Current: | 2,256.40 | | Change: | -14.40 | | Impl. Open: | -12.29 | | | Stock futures indicated a lower open, following a mixed Tuesday session, as investors deal with increased inflation concerns and higher Treasury yields. The Dow managed to eke out another record close Tuesday, but the S&P 500 and Nasdaq were lower after touching record intraday highs shortly after Tuesday's opening bell. The averages continue to be on pace for their best monthly performance since November. (CNBC) | | | | Bitcoin (BTC.CM) continued its big rally and broke above $51,000 per coin to set a new record high this morning. It comes one day after the digital coin eclipsed the $50,000 for the first time in the wake of established financial established like Mastercard (MA) making further moves in the crypto space. (CNBC) | | | | Earnings reports out this morning include the latest numbers from Hilton Worldwide (HLT), Garmin (GRMN) and Shopify (SHOP). After the bell, Tilray (TLRY), Herbalife (HLF), Cheesecake Factory (CAKE), Twilio (TWLO), Boston Beer (SAM) and Hyatt Hotels (H) are among the companies releasing quarterly earnings. (CNBC) | Millions of Texas residents remain without power after freezing temperatures and historic snowfall led to a surge in demand for electricity. Officials across Texas, including Gov. Greg Abbott, are calling on the leaders of the Electric Reliability Council of Texas to provide answers on what's caused the prolonged power outage. The winter storm has caused at least 21 deaths across four states. (Reuters)
* How one Texas storm exposed an energy grid unprepared for climate change (NBC News)
Wholesale power and natural gas prices soared in recent days. However, natural gas futures dropped early Wednesday. U.S. oil prices kept up their advance Wednesday, gaining more than 1% and pushing above $61 per barrel, levels not seen since the early days of the coronavirus pandemic. (CNBC) | | | Salesforce (CRM) said Tuesday the Justice Department's Antitrust Division has asked for more information on the company's plans to buy Slack (WORK), a smaller software company known for its workplace chat application. Salesforce said it still expects the acquisition to close in the quarter ending on July 31, but the Justice Department's move could signal that the Biden administration plans greater scrutiny of large technology transactions. (CNBC)
* Big Tech's Democratic critics discuss ways to strike back with White House (Reuters) | | | Apple scored a political victory in North Dakota when the state senate voted down a legislative proposal that would have threatened how the iPhone maker operates its App Store. The bill would have forced app stores to enable software developers to use their own payment processing software, allowing them to skirt fees charged by Apple and Google (GOOGL). The North Dakota proposal was being watched as a potential harbinger for more state-level legislation targeting tech giants like Apple. (CNBC)
* New York State sues Amazon over worker treatment during Covid-19 pandemic (The Wall Street Journal ) | | Tribune Publishing (TPCO) will be taken private by hedge fund Alden Global for $17.25 per share in cash. Alden already had a 32 percent stake in the publisher of the Chicago Tribune, New York Daily News and Baltimore Sun newspapers. | | | | Morningstar (MORN) was sued by the Securities and Exchange Commission for allegedly violating securities laws in its commercial mortgage-backed securities ratings. The financial information provider said it had complied with all regulations and that it had stopped using the method in question in 2018. | | | | Jana Partners increased its stake in Treehouse Foods (THS) to 7.3 percent and is pushing the packaged food company to explore options including a possible sale. In its quarterly 13-F filing, Jana also disclosed a new stake in medical lab operator LabCorp (LH). | | | | La-Z-Boy (LZB) shares are falling after the furniture maker announced that CEO Kurt Darrow would retire on April 25, to be replaced by CFO Melinda Whittington. La-Z-Boy also reported a drop in quarterly profit on higher costs due to COVID-19 related supply chain disruptions. | | | | Cedar Fair (FUN) reported a fourth quarter loss of $105.5 million compared to a $2.78 billion profit a year earlier, as the pandemic continued to impact attendance at the amusement park operator's properties. | | The former Trump Plaza casino in Atlantic City, New Jersey, will be demolished this morning after falling into disrepair. It had once been a crown jewel of former President Donald Trump's casino empire, attracting rock stars and athletes alike. But it would go on to struggle financially and closed in 2014. Two years later, Carl Icahn bought the building out of bankruptcy. (Associated Press) | | |
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