| What to watch today: Stock futures are higher after Wall Street snapped 3-day losing streak | | |  | FRI, MAY 14, 2021 | | | | AS OF FRI, MAY 14, 2021 • 07:40 ET | | Dow Jones Fut | | 34,021.45 | | Current: | 34,100.00 | | Change: | 162.00 | | Impl. Open: | 166.55 | | | S&P 500 Fut | | 4,112.50 | | Current: | 4,133.75 | | Change: | 26.75 | | Impl. Open: | 26.85 | | | NASDAQ 100 Fut | | 13,109.15 | | Current: | 13,241.00 | | Change: | 140.75 | | Impl. Open: | 139.85 | | | Russell 2000 Mini | | 2,170.95 | | Current: | 2,185.90 | | Change: | 17.30 | | Impl. Open: | 16.55 | | U.S. stock futures are indicating a higher open, giving the major averages a chance to cut into the week's losses after their strong Thursday rebound broke three-day losing streaks. Dow futures implied an opening gain of roughly 170 points. Nasdaq and S&P 500 futures also were firmly in the green. (CNBC)
The Dow on Thursday had its best day since late March, while the S&P 500 posted its largest one-day advance since early April. However, both remain on track for their largest weekly losses since the week ending Jan. 29. The tech-heavy Nasdaq is on pace to post its fourth-straight weekly loss for the first time since August 2019. The 30-stock Dow is once again higher for May following Thursday's rally, but the other major averages remain lower for the month. | | | | Two economic reports are out at 8:30 a.m. ET. Consensus forecasts for the government's April retail sales data call for a 0.8% increase following a 9.8% surge in March. April import prices also are released at that time, with economists expecting a 0.5% jump. | | | | April industrial production figures are due at 9:15 a.m. ET. They are expected to show a 0.8% increase after a 1.4% March rise. | | | | The University of Michigan's midmonth reading on consumer sentiment is released at 10 a.m., and it's expected to show a reading of 90.1, up from 88.3 at the end of April. At the same time, the government's March business inventories report should show a 0.3% increase following a 0.5% rise in February, according to consensus forecasts. | | | | There are no earnings reports of note out today, either this morning or after today's closing bell. | | | Colonial Pipeline paid nearly $5 million as a ransom after the company was hit by a cyberattack from the criminal group known as DarkSide, according to NBC News. The ransomware attack prompted Colonial Pipeline to halt operations on roughly 5,500 miles of pipeline throughout the East Coast, a proactive measure that led to gas shortages in Southeastern states. Colonial Pipeline resumed operations Wednesday night, but the system needs a few days before it returns to normal. (CNBC)
* Biden warns against panic buying as Colonial Pipeline slowly comes back online (CNBC) | | | | Ireland's health service was hit with a "sophisticated" ransomware attack, prompting the agency to shut down its computer systems Friday. Appointments for Ireland's coronavirus vaccination program remain in place, but the portal to register has been taken offline. (CNBC) | | | | President Joe Biden said he plans to host a group of Republican senators at the White House next week for another round of discussions on infrastructure. Biden's first meeting with the GOP group, which is being led by West Virginia Sen. Shelley Moore Capito, was held Thursday. Biden's initial infrastructure proposal, costing roughly $2 trillion, immediately faced opposition from Republicans, who favor a smaller package. | | | | Disney's second-quarter revenue fell short of analyst estimates while earnings per share were better than expectations. The company also reported 103.6 million paid Disney+ subscribers, which was below FactSet forecasts of 109 million. While streaming rival Netflix (NFLX) also missed on subscribers in its most-recent quarter, a key figure for investors to watch is average revenue per user, where Netflix has the advantage. (CNBC) | | | | A rebound in travel as more people are vaccinated against Covid helped Airbnb (ABNB) see a 5% increase in first-quarter revenue, the home-rental company reported Thursday. The positive year-over-year revenue figure followed a decline of 22% in the fourth quarter. Airbnb said its average daily rate was $160 in the quarter, up 25% from the prior period. (CNBC) | | | | Amazon (AMZN) plans to hire 75,000 more workers for its warehouse and delivery network in the U.S. and Canada, with hourly pay starting at an average of $17. New warehouse and transportation hires also will be offered a $100 bonus if they demonstrate proof of Covid vaccination, the cloud and e-commerce giant said Thursday. The announcement comes as U.S. businesses try to overcome challenges in filling open jobs. McDonald's (MCD) announced an increase in hourly wages for employees at company-owned restaurants in the U.S. (CNBC) | | | | DoorDash (DASH) revenue for the first quarter came in above analyst forecasts, and the food delivery service raised its annual forecast for order value. First-quarter results got a boost from stimulus checks, although the company said those checks were responsible for drivers working fewer hours. | | | | Kansas City Southern (KSU) accepted Canadian National Railway's (CNI) $33.6 billion takeover bid, casting aside the $29 billion deal it had agreed to with Canadian Pacific Railway (CP). Canadian Pacific has five business days to make a counteroffer for the U.S.-based rail operator. | | | | Aurora Cannabis (ACB) reported disappointing fiscal third-quarter revenue, hit by pandemic-related restrictions in Canada. Separately, the cannabis producer announced a move in its U.S. stock listing to the Nasdaq from the New York Stock Exchange, citing lower costs. | | | | Fisker (FSR) signed a deal with contract manufacturer Foxconn to co-develop electric vehicles. Plans include opening a new U.S. manufacturing plant in 2023, although a location has not yet been finalized. | | | | Poly (PLT) reported better-than- expected profit and revenue for its latest quarter, but the maker of audio and video products issued a disappointing outlook. The company formerly known as Plantronics said it expected the global semiconductor shortage to negatively impact its supply chain. | | |
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