| What to watch today: Wall Street looks steady after last week's delta-driven Covid concerns | | |  | TUE, SEP 07, 2021 | | | | AS OF TUE, SEP 07, 2021 • 08:30 ET | | Dow Jones Fut | | 35,369.09 | | Current: | 35,367.00 | | Change: | 14.00 | | Impl. Open: | 15.41 | | | S&P 500 Fut | | 4,535.43 | | Current: | 4,536.50 | | Change: | 2.00 | | Impl. Open: | 2.77 | | | NASDAQ 100 Fut | | 15,652.86 | | Current: | 15,661.00 | | Change: | 9.50 | | Impl. Open: | 7.64 | | | Russell 2000 Mini | | 2,292.05 | | Current: | 2,293.10 | | Change: | 2.20 | | Impl. Open: | 1.75 | | | U.S. stock futures were flat Tuesday after a much weaker-than-expected August jobs report, reflecting the impact of the delta-driven Covid resurgence in the U.S., knocked the S&P 500 slightly lower Friday from a record close. The Nasdaq, however, managed a small gain and another record finish. The Dow fell Friday, heading into the new trading week 0.7% away from last month's record close. The U.S. stock market was closed Monday for Labor Day. (CNBC) | | | | Goldman Sachs over the weekend downgraded its estimate for U.S. economic growth to a 5.7% annual rate in 2021, below the 6.2% consensus. (CNBC Pro) | | | | Bitcoin retreated 1.5% on Tuesday after topping $52,000 on Monday, a level not seen since May, as El Salvador revealed it bought 400 bitcoins worth nearly $21 million. The announcement came as El Salvador's bitcoin law, which was passed in June, took effect Tuesday, making bitcoin legal tender there. El Salvador is the first country to do so. (CNBC) | | As total Covid cases in America topped 40 million over the holiday weekend, White House chief medical advisor Dr. Anthony Fauci said the U.S. will likely start to widely distribute Pfizer vaccine booster shots during the week of Sept. 20. The U.S. recommends an additional shot eight months after the second dose. However, only Pfizer may get FDA and CDC approval in time for the rollout, Fauci said Sunday. (CNBC) | | | | Enhanced federal unemployment insurance put in place during the coronavirus pandemic ended this weekend after nearly a year and a half. That means some 9 million people will lose all benefits and another 3 million will see weekly checks reduced by $300, according to an estimate by The Century Foundation. (CNBC) | | | | After months of teaching remotely due to Covid, Jill Biden resumes in-person instruction Tuesday from a classroom at Northern Virginia Community College, where she has worked since 2009. Biden is the first first lady to leave the White House and log hours at a full-time job. (AP) | | | | President Joe Biden will survey damage in parts of the Northeast that suffered catastrophic flash flooding last week from the remnants of Hurricane Ida. Biden on Tuesday is set to tour Manville, New Jersey, and the New York City borough of Queens. At least 50 people were killed in six Eastern states as record rainfall last week overwhelmed rivers and sewer systems. Biden toured Ida damage on the Gulf Coast last week. (AP) | | | | Boeing (BA) dipped 0.5% in premarket trading after Ryanair, one of Boeing's biggest customers, said it ended talks to purchase 737 Max 10 jets. The deal would have been worth tens of billions of dollars. Ryanair cited disputes over prices. (Reuters) | | | | "Shang-Chi and the Legend of the Ten Rings," in the Marvel Cinematic Universe, smashed the record for Labor Day weekend openings with an estimated $71.4 million Friday-to-Sunday ticket sales. Bucking a pandemic-era trend, Disney's "Shang-Chi" was released only in theaters and not alongside streaming. (AP) | | | | Actor Michael K. Williams, beloved for his role as shotgun-wielding antihero Omar Little in the HBO series "The Wire," has died. The actor and activist, 54, was found dead Monday afternoon in his apartment in his native Brooklyn. Investigators are looking at whether Williams died by overdose, police said. (CNBC) | | Match Group (MTCH) surged 11% in the premarket after news that the company would join the S&P 500 later this month. The online dating company will replace Perrigo Company (PRGO), which was up 1% ahead of the open. | | | | JD.com (JD) gained 1.4% in early morning trading after the Chinese e-commerce giant appointed a new president. The company's founder and CEO Richard Liu is stepping back from day-to-day operations, while Xu Lei, previously CEO of JD Retail, will take the president role and fulfill those duties. | | | | Spotify (SPOT) gained 3.9% in the premarket after KeyBanc upgraded the music streamer's stock to overweight from equal weight. KeyBanc said Spotify is growing its user base faster than peers. | | | | Morgan Stanley downgraded several large-cap pharmaceutical stocks, including Johnson & Johnson (JNJ), Merck (MRK) and Amgen (AMGN) saying upside is limited. Morgan Stanley changed its ratings on J&J, Merck and Amgen to equal weight from overweight. All three names moved lower in the premarket. | | | | Terminix (TMX) added nearly 2% in the premarket after Bank of America double upgraded the stock to buy from underperform. Bank of America said the pest control company's turnaround "will take time to fully deliver," but it sees a "more positive risk-reward today." | | | | Cirrus Logic (CRUS) gained more than 3% in the premarket after Barclays upgraded the semiconductor stock to overweight from equal weight. Barclays sees further content gains at Apple (AAP) benefiting Cirrus Logic over the next few years. | | |
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