| What to watch today: Stocks set to rise after last week's bitcoin-driven swings | | |  | MON, MAY 24, 2021 | | | | AS OF MON, MAY 24, 2021 • 08:42 ET | | Dow Jones Fut | | 34,207.84 | | Current: | 34,287.00 | | Change: | 134.00 | | Impl. Open: | 135.16 | | | S&P 500 Fut | | 4,155.86 | | Current: | 4,175.50 | | Change: | 23.75 | | Impl. Open: | 23.64 | | | NASDAQ 100 Fut | | 13,411.74 | | Current: | 13,516.25 | | Change: | 111.25 | | Impl. Open: | 109.51 | | | Russell 2000 Mini | | 2,215.27 | | Current: | 2,222.80 | | Change: | 10.50 | | Impl. Open: | 7.53 | | U.S. stock futures rose as tech names in Monday's premarket trading shook off another rough stretch for bitcoin over the weekend. The Dow Jones Industrial Average and S&P 500 dropped roughly 0.5% each last week. For the S&P 500, that was its first back-to-back weekly losses since February. The Nasdaq bucked the downdraft last week, breaking a four-week losing streak with a 0.3% advance. (CNBC)
In the last trading week of May, ahead of next Monday's Memorial Day holiday, the Dow was up about 1% for the month and the S&P 500 was down 0.6% for the month. The Nasdaq down 3.5% as the biggest loser in May. (CNBC) | | | | Ten years to the day since CNBC's Mark Haines died, the network is honoring him by auctioning an NFT of his historic market call at the depths of the Great Recession. Proceeds from the auction will go to Autism Speaks and to the Council for Economic Education. | | A group of Republican and Democratic senators unveiled a transportation package over the weekend. The bill would increase funding for highways, roads and bridges as Congress searches for bipartisan paths to repair the nation's infrastructure. (CNBC) | | | | Ryanair CEO Michael O'Leary asserted Monday that the decision by Belarusian authorities to divert a plane flying over its territory and to arrest a dissident journalist on board constituted "state-sponsored piracy." O'Leary said he believed Belarusian KGB operatives were traveling on the scheduled flight from Athens for Vilnius, Lithuania. (CNBC) | | | | AMC Entertainment's (AMC) largest shareholder, China's Dalian Wanda Group, sold most of its stake in the movie theater operator over the past week. A Securities and Exchange Commission filing shows Dalian Wanda sold 30.4 million shares for about $427 million. AMC shares rose 1.5% in the premarket. | | | | Martin Marietta Materials (MLM) struck a deal to buy the California and Arizona assets of Germany's HeidelbergCement for $2.3 billion in cash. The construction materials company will acquire 17 quarries and two cement plants as part of the deal, among other assets. | | | | Palantir Technologies (PLTR), a data analytics platform company, won a $32.5 million contract to provide its software to the Air Force and Space Force. Its shares rose 1% in premarket trading. | | | | Cabot Oil & Gas (COG) and rival oil and natural gas producer Cimarex Energy (XEC) agreed to an all-stock merger of equals valued at $7.35 billion. Cimarex shareholders will receive a little over four shares of Cabot for each share they now own. Cabot shares added 1.9% in premarket trading, while Cimarex stock was up 0.4%. | | | | Moderna (MRNA) struck a vaccine production agreement with South Korea's Samsung Biologics, in a move it said will allow it to provide its Covid-19 vaccine to markets outside the United States beginning in the third quarter. Its shares climbed 1.6% in premarket action. | | | | CureVac (CVAC) is working to expand production capacity for its Covid-19 vaccine in anticipation of a June European Union approval, according to a company spokeswoman quoted in a German newspaper. | | | | The British government is concerned about a possible takeover of GlaxoSmithKline (GSK), according to the Times of London newspaper, and has asked officials to monitor the situation. The concern was sparked by an investment in Glaxo by activist hedge fund Elliott Management. | | Phil Mickelson defied the odds Sunday to become the oldest major champion in golf history as he overcame a nervy back-nine to clinch a memorable two-shot victory at the 103rd PGA Championship. He tamed the difficult Ocean Course on Kiawah Island, South Carolina just over three weeks shy of his 51st birthday. (Sky Sports) | | |
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