Here’s what we’re looking at before Thursday’s opening bell.
The Nasdaq-100 Index futures gained 0.8%, suggesting that technology giant stocks could recover some of their losses. Technical stocks took off on Wednesday, when investors turned to other stocks that are more dependent on economic growth.
What’s next
– Weekly complaints for the unemployed were lower than expected, adding 787,000 for the week of January 2, compared to expectations of 815,000. Trade data showed a larger-than-expected deficit for November, at $ 68.1 billion, up from $ 63.1 billion the previous month.
Market Movers to watch
– Bed bath and beyond BBBY -10.51%
the stock fell more than 14% in premarket trading, after sales and profits proved weaker than expected in the third quarter. The company blamed Covid-19, which meant fewer buyers in its stores and transportation problems.
– Walgreens Boots Alliance WBA 8.44%
shares rose 2.7% premarket, adding to Wednesday’s 4.5% increase after exceeding expectations with first-quarter earnings. Major sales rose nearly 6%, although Walgreens was pushed into a $ 1.5 billion tax loss on its AmerisourceBergen investment.
– Micron Technology MU 3.40%
is up 1.5% in premarket trading ahead of its earnings due on Thursday afternoon, adding to its 2.6% increase in shares since the beginning of the year. The Citigroup analyst had a dramatic pivot on the stock this week, going from direct selling to buying and almost tripling the price target to $ 100 from $ 35.
– Modern MRNA 0.30%
rose 2.7% premarket, based on a 6.5% jump on Wednesday after the European Union gave the green light to its Covid-19 vaccine for use in Europe.
Martha Treen, a resident of Poydras Home, receives the Moderna vaccine from CVS pharmacist Catherine Ramzy at her home on Magazine Street in New Orleans on December 30, 2020.
Photo:
DAVID GRUNFELD / Associated Press
– Twitter TWTR -1.97%
shares fell 2.4% from the premarket after a decrease of 1.2% the day before. The social networking site blocked President Trump’s account and deleted some posts late Wednesday, after continuing to claim that he won the election in a “sacred slip.” Facebook FB 2.18%
He also blocked Mr. Trump from stopping, but his shares were 1.1% better after falling by almost 3% on Wednesday.
“It’s a day that ends with a ‘y,’ so Tesla TSLA.” 5.38%
shares are on the move: the stock is up 2.6% premarket, with no apparent news, after rising 2.8% on Wednesday.
– DXC technology,
DXC 7.52%
an IT services company, increased by almost 12% in the discussions about a takeover offer from the French group Atos. Reuters reported that Atos made a $ 10 billion approach to his smaller rival.
– Albemarle ALB 4.71%
rose nearly 6 percent after saying it would double lithium production at its Nevada headquarters, a sign that demand dynamics are improving after an excess. The soft metal is used in electric vehicles and to treat manic depression.
Market fact
Shares of Wall Street giant Goldman Sachs GS 3.19%
closed for a record for the first time in nearly three years, a sign of how much the bank has benefited from last year’s financial chaos. Its shares have risen by about 19% in the last month, much more than any of the big bank’s five partners.
Diagram of the day
Reflation policy matters most to investors, but the long-term impact of elections is often quite different from what appears the day after the vote, writes columnist James Mackintosh.
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