| What to watch today: Wall Street to open lower after Nasdaq's worst week since March 2020 | | |  | MON, JAN 24, 2022 | | | | AS OF MON, JAN 24, 2022 • 08:52 ET | | Dow Jones Fut | | 34,265.37 | | Current: | 33,872.00 | | Change: | -285.00 | | Impl. Open: | -279.37 | | | S&P 500 Fut | | 4,397.94 | | Current: | 4,339.25 | | Change: | -50.75 | | Impl. Open: | -50.69 | | | NASDAQ 100 Fut | | 14,438.40 | | Current: | 14,200.25 | | Change: | -226.25 | | Impl. Open: | -226.15 | | | Russell 2000 Mini | | 1,987.92 | | Current: | 1,957.90 | | Change: | -27.50 | | Impl. Open: | -29.02 | | U.S. stock futures dropped Monday, indicating more losses to start the new week following the Nasdaq's and the S&P 500's worst weeks since March 2020, just after the Covid pandemic was declared. For last week, the Nasdaq lost 7.6% and the S&P 500 shed 5.7%, logging four- and three-week losing streaks, respectively. (CNBC)
The Dow Jones Industrial Average lost 4.6% last week, its worst weekly performance since October 2020 and its third straight weekly decline. The Nasdaq was firmly in correction territory, down 14% from its November record close. The S&P 500 and the Dow were down 8% and 7% from their record closes earlier this month. | | | | The 10-year Treasury yield Monday continued to retreat from last week's spike to January 2020 highs. The 10-year yield was around 1.7% after topping 1.9% on Wednesday as investors focused on the Federal Reserve's timeline for raising interest rates and broadly tightening monetary policy as inflation persistently increases. (CNBC) | | | The cryptocurrency market has seen around $130 billion in value erased over the past 24 hours as major digital coins continued their multiday sell-off. Bitcoin on Monday was down around 5% to just above $33,000, the lowest levels since July 2021. Bitcoin was about 50% off its record high hit in November. (CNBC)
Cryptocurrency exchange operator Coinbase (COIN) tumbled 7.8% in the premarket, reflecting the downward move in crypto over the weekend and this morning. Microstrategy (MSTR), the business analytics company that holds several billion dollars in bitcoin, plunged 12.2% in Monday's premarket. | | Kohl's (KSS) soared more than 30% to around $62 per share in Monday's premarket trading, as the department store chain is fielding takeover offers from at least two suitors. The latest was from private equity firm Sycamore is willing to pay at least $65 per share for Kohl's, people familiar with the matter told CNBC on Sunday. | | | | Unilever (UL) surged 6.6% in the premarket following reports that Nelson Peltz's Trian Partners has built up a stake in the consumer products giant. The size of the stake could not be determined, and Trian said it did not comment on market rumors when contacted by CNBC. | | | | Ford Motor (F) is expanding its Bronco SUV lineup to include a new Raptor model that will go on sale later this year starting at about $70,000. The 2022 Ford Bronco Raptor adds to an already wide lineup of the popular SUVs as the automaker attempts to fulfill an order bank of tens of thousands of reservation holders for current models. (CNBC) | | | | Fast-food value deals are back in full force after nearly two years underground, but chains are hiking prices as they face higher food costs. Tougher competition means restaurants want to drive foot traffic, so some chains are strategically tweaking promotions to avoid a hit to their profit margins. Other chains are opting to cut discounts instead of making more unilateral menu price hikes. (CNBC) | | | | Wikileaks founder Julian Assange will be able to challenge a December decision that would allow him to be extradited to the U.S. on espionage charges. On Monday, the U.K. High Court ruled that he could now take an appeal to the country's Supreme Court. Assange, an Australian citizen, has been held in the U.K.'s Belmarsh prison since 2019. (CNBC) |  | Snap (SNAP) slid 5.3% in the premarket after it was downgraded to "neutral" from "outperform" at Wedbush, which sees various headwinds impacting the social media network operator's revenue growth. | | | | Philips (PHG) fell 4% in the premarket after the Dutch health technology company reported falling profit due in part to supply chain issues that are expected to persist in coming months. Philips did predict a strong recovery in sales for the second half of the year. | | | | Halliburton (HAL) rose 1.5% in the premarket after the oilfield services company beat top and bottom line estimates for the fourth quarter. Demand for the company's services jumped as oil prices rose. Halliburton also raised its quarterly dividend to 12 cents per share from 4.5 cents a share. | |  | | |
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