| What to watch today: Stocks set to open mixed after Dow fell from record high | | |  | WED, MAR 31, 2021 | | | | AS OF WED, MAR 31, 2021 • 08:53 ET | | Dow Jones Fut | | 33,066.96 | | Current: | 32,914.00 | | Change: | -11.00 | | Impl. Open: | -27.96 | | | S&P 500 Fut | | 3,958.55 | | Current: | 3,955.00 | | Change: | 7.25 | | Impl. Open: | 6.45 | | | NASDAQ 100 Fut | | 12,896.53 | | Current: | 12,973.75 | | Change: | 95.50 | | Impl. Open: | 90.22 | | | Russell 2000 Mini | | 2,195.80 | | Current: | 2,201.50 | | Change: | 9.10 | | Impl. Open: | 14.90 | | U.S. stock futures were mixed Wednesday, one day after the Dow broke a three-session winning streak and slipped from its previous record high close. The S&P 500 and Nasdaq also dropped slightly as tech stocks came under pressure after the 10-year Treasury yield hit a new 14-month high of 1.776% on Tuesday. (CNBC)
Heading into the last day of March, the Dow and S&P 500 were sitting on solid gains for the month and all of the first quarter. The Nasdaq was tracking for a March loss but a modest quarterly gain. The 10-year Treasury yield soared about 18% in March and about 88% for the quarter. (CNBC) | | | | The 10-year Treasury yield dipped but held around 1.72% on Wednesday morning after the ADP's monthly look at jobs trends at U.S. companies showed 517,000 positions were added in March. That was slightly below estimates but well above February's disappointing 176,000. (CNBC) | | | | The Supreme Court on Wednesday is set to hear arguments from the National Collegiate Athletic Association in a case over whether the organization can cap education-related benefits paid to college athletes. Against the backdrop of the NCAA's men's and women's basketball tournaments, the case comes as broader debate rages over compensation for student athletes. (CNBC) | | | | New York's state legislature passed a bill Tuesday to legalize recreational marijuana, and Democratic Gov. Andrew Cuomo said he would sign it. The state Senate voted 40-23 to pass the legislation. Later in the evening, the state Assembly voted 100-49 in favor of the bill. (CNBC) | | | | Goldman Sachs (GS) is close to offering its first investment vehicles for bitcoin and other digital assets to clients of its private wealth management group, CNBC has learned. The bank aims to begin offering investments in the emerging asset class in the second quarter, according to Mary Rich, who was recently named global head of digital assets for Goldman's private wealth management division. | | | | Facebook (FB) said it will introduce a new feature that will make it easier for users to choose how content is presented to them in their News Feed. The feed filter bar will let users toggle between algorithmically ranked content, most recent posts and updates from their favorite friends and pages they follow. (CNBC) | | Online pet retailer Chewy (CHWY) earned a surprise quarterly profit of 5 cents per share. Estimates had called for a 10-cent loss. Revenue also beat expectations. Net sales surged 47% from a year ago, as homebound consumers ordered more of their pet food and other pet products. Chewy shares surged 10.4% in premarket trading. | | | | BlackBerry (BB) shares fell 5.9% in the premarket following its quarterly results. BlackBerry matched estimates with adjusted quarterly earnings of 3 cents per share, but revenue fell short of forecasts amid slower demand for the company's QNX care software. | | | | Walgreens (WBA) reported quarterly earnings of $1.40 per share, beating estimates. The drug store operator also raised full-year guidance. Walgreens said quarterly earnings were pressured in part by weaker sales of cold, cough and flu products. Shares of Walgreens rose 2.1% in the premarket. | | | | Lululemon (LULU) fell 1.8% in Wednesday's premarket despite a quarterly beat on the top and bottom lines. Brick and mortar comparable sales at the athletic apparel and leisurewear company slumped 28% due to the pandemic, but that drop was offset by a surge in digital sales. | | | | PVH (PVH), behind the Tommy Hilfiger and Calvin Klein brands, lost 38 cents per share for its latest quarter, higher than analysts were anticipating. Revenue came in slightly below estimates as well. PVH expects to return to profit this fiscal year, but its projections are shy of estimates and shares fell 1.1% in the premarket. | | | | Cleveland-Cliffs (CLF) shares surged 6.8% premarket after the steel producer announced preliminary results for the quarter that ends today. The projected earnings for the quarter and the full year are well above current Wall Street projections. | | The Gonzaga Bulldogs are back in the Final Four, two wins away from becoming the first undefeated team since the 1976 Indiana Hoosiers. No. 1 seed Gonzaga on Saturday night plays No. 11 seed UCLA. Saturday's earlier evening game features No. 1 seed Baylor versus No. 2 seed Houston. (AP) | | |
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