| What to watch today: Stock futures are set for lower open, oil prices slide | | |  | MON, APR 11, 2022 | | | | AS OF MON, APR 11, 2022 • 08:47 ET | | Dow Jones Fut | | 34,721.12 | | Current: | 34,482.00 | | Change: | -131.00 | | Impl. Open: | -145.12 | | | S&P 500 Fut | | 4,488.28 | | Current: | 4,452.25 | | Change: | -31.25 | | Impl. Open: | -31.03 | | | NASDAQ 100 Fut | | 14,327.26 | | Current: | 14,164.75 | | Change: | -162.25 | | Impl. Open: | -165.51 | | | Russell 2000 Mini | | 1,994.56 | | Current: | 1,982.60 | | Change: | -8.50 | | Impl. Open: | -8.96 | | | The tech-focused Nasdaq Composite saw the biggest declines last week, falling nearly 3.9% as investors prepared for more aggressive policy tightening from the Federal Reserve. The S&P 500 slid 1.27%, ending a three-week winning streak, while the Dow Jones Industrial Average dropped 0.28%. The 30-stock Dow has now fallen two weeks in a row. | | | | Oil prices fell by more than 4% on Monday, sending U.S. benchmark West Texas Intermediate crude futures below $94 per barrel. International benchmark Brent dropped about 4.1% to around $98.50 per barrel. (Reuters) |  | Nio (NIO) shares slumped 8.4% in premarket action after the China-based electric car maker suspended production due to Covid-19 related supply chain disruptions. | | | | JetBlue (JBLU) is cutting back its summer schedule in an effort to avoid flight disruptions, while working to ramp up hiring. The New York-based airline added 1% in premarket trading. | | | | Veru (VERU) shares surged 24.8% in the premarket after the drugmaker reported "overwhelming" evidence of efficacy for its experimental drug for treating hospitalized Covid-19 patients. It will meet with the Food and Drug Administration to seek emergency use authorization for the treatment. | | | | Sailpoint Technologies (SAIL) shares soared 29.5% in premarket trading after the cybersecurity company agreed to be acquired by private-equity firm Thoma Bravo for $6.9 billion or $65.25 per share. | | | | Shopify (SHOP) shares added 1.1% in the premarket after the e-commerce platform company proposed a 10-for-1 stock split, as well as the creation of a new "founder share" that would increase CEO Tobi Lutke's voting power to 40% from the current 34%. | | | | AT&T (T) added 1.9% in the premarket after completing the spin-off of its WarnerMedia unit to Discovery Communications late Friday, with the stock of the newly combined Warner Brothers Discovery (WBD) set to begin trading today under its new name and ticker symbol. Separately, Deutsche Bank named Warner Brothers Discovery a "top pick" given its robust entertainment content. | | | | Nvidia (NVDA) slid 3% in premarket action, following the announcement that the semiconductor firm would seek shareholder approval to double the number of authorized shares. That would give Nvidia the flexibility to take actions like stock splits and issuing equity incentives without a further shareholder vote. | | | | Lowe's (LOW) fell 1% in the premarket after announcing the departure of David Denton as chief financial officer. Denton is leaving the home improvement retailer to take the same job at drugmaker Pfizer (PFE). He'll be replaced by Senior Vice President Brandon Sink effective April 30. | | |
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