| What to watch today: Dow set to drop after fall from previous record | | |  | WED, APR 07, 2021 | | | | AS OF WED, APR 07, 2021 • 08:56 ET | | Dow Jones Fut | | 33,430.24 | | Current: | 33,269.00 | | Change: | -46.00 | | Impl. Open: | -43.24 | | | S&P 500 Fut | | 4,073.94 | | Current: | 4,058.00 | | Change: | -6.00 | | Impl. Open: | -5.94 | | | NASDAQ 100 Fut | | 13,578.46 | | Current: | 13,536.00 | | Change: | -34.00 | | Impl. Open: | -31.46 | | | Russell 2000 Mini | | 2,259.15 | | Current: | 2,248.30 | | Change: | -7.70 | | Impl. Open: | -1.65 | | | JPMorgan Chase (JPM) CEO Jamie Dimon sees strong growth for the U.S. economy in the near term, thanks to the government's response to the coronavirus pandemic that has left many consumers flush with savings, according to his annual shareholder letter made public Wednesday. (CNBC) | | | | Jeff Bezos voiced support for raising the U.S. corporate tax rate to help pay for infrastructure spending. But the Amazon founder on Tuesday stopped short of saying he supports President Joe Biden's plan for the increase. (CNBC) | | | | Qiagen (QGEN), a genetic testing company, unveiled new technology that shortens turnaround time for researchers identifying new variants of the virus that causes Covid-19. The stock gained 1.5% in the premarket. (CNBC) | | | | The vacancy rate for regional malls in the U.S. hit a record 11.4% in the first quarter of 2021 from 10.5% in the fourth quarter of 2020, according to Moody's Analytics' commercial real estate division. The increase marked the highest the firm has ever seen, surpassing the record 80 basis-point spike in the first quarter of 2009, in the thick of the Great Recession. | | | | Target (TGT) said it will hire more Black-owned companies, launch a program to identify and support promising Black entrepreneurs and add products from more than 500 Black-owned brands to its shelves or website. Altogether, the discounter said Wednesday that it will spend more than $2 billion with Black-owned businesses by 2025. | | | | Nike (NKE) said Wednesday it's suspended its endorsement of NFL star Deshaun Watson. The quarterback has been accused of sexual misconduct in lawsuits filed by 22 women. On Tuesday, Watson's first accuser spoke publicity. The Houston Texans player is backed by companies including Nike and Beats By Dre. (CNBC) | | | | Kim Kardashian West has reached billionaire status. Forbes primarily credits Kardashian West's "two lucrative businesses," cosmetics company KKW Beauty and shapewear company Skims for accelerating her rise to the 10 figures club. (USA Today) | | Beyond Meat (BYND) announced the opening of a new manufacturing facility in China, its first outside the United States. The plant-based food company said the new factory would significantly increase its ability to deliver products in the region. Beyond Meat rose 2.8% in premarket action. | | | | Nokia (NOK) settled a long-standing patent dispute with computer maker Lenovo, striking a new cross-licensing agreement. The case involved Lenovo's use of multiple video compression technologies. Terms of the agreement weren't disclosed, but the Finland-based telecom equipment maker said it will receive a payment from Lenovo. Nokia rose 1.3% in premarket trading. | | | | Li Auto (LI) announced a new $750 million debt offering, which the China-based electric vehicle maker said would be used to fund research and development. The stock fell 3.7% in premarket action. | | | | Niu Technologies (NIU) unveiled its first electric kick-scooter, with the China-based company planning to make the two-wheeled transportation device available in North America, China and Europe this summer. | | | | Solar equipment company SunRun (RUN) stock added 2.3% in the premarket after RBC initiated coverage with an "outperform" rating, noting SunRun's position as the leading player in the rapidly growing rooftop solar market. | | | | Pfizer's (PFE) rheumatoid arthritis drug Xeljanz is under scrutiny by Canadian health officials, after a study showed an increased risk of heart-related issues and cancer among patients. Global sales of Xeljanz in 2020 totaled $2.44 billion. | | | | Genworth Financial (GNW) terminated its deal to be acquired by China-based China Oceanwide Holdings, a $2.7 billion transaction first announced in 2016. The insurance company said its board had determined that the deal could not be completed in a reasonable time frame. Genworth fell 1.7% in premarket trading. | | | | Royal Dutch Shell (RDS.A) expects to take a $200 million hit to first-quarter earnings from the extreme winter weather in Texas earlier this year. The energy producer is scheduled to report its first-quarter results on April 29. | | University of Iowa senior Luka Garza announced on CNBC that he's auctioning off an NFT. The buyer of Garza's nonfungible token will also get signed shoes and a chance to spend time with the college basketball star. Garza told CNBC he sees the digital collectibles as an example of how NCAA athletes could benefit from their name, image and likeness. | | |
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