| What to watch today: Stocks set for gains following strong March jobs report | | |  | MON, APR 05, 2021 | | | | AS OF MON, APR 05, 2021 • 08:58 ET | | Dow Jones Fut | | 33,153.21 | | Current: | 33,287.00 | | Change: | 250.00 | | Impl. Open: | 257.79 | | | S&P 500 Fut | | 4,019.87 | | Current: | 4,037.75 | | Change: | 27.75 | | Impl. Open: | 27.88 | | | NASDAQ 100 Fut | | 13,329.51 | | Current: | 13,427.00 | | Change: | 111.00 | | Impl. Open: | 110.49 | | | Russell 2000 Mini | | 2,253.90 | | Current: | 2,280.50 | | Change: | 28.60 | | Impl. Open: | 35.80 | | Stock futures pointed to a higher open, in a delayed reaction to Friday's better-than-expected March jobs report. Dow futures implied an opening gain of roughly 250 points, while S&P 500 and Nasdaq futures were both solidly in the green. (CNBC)
The Dow and S&P 500 are on track to open at record intraday highs, following the S&P 500's record close Thursday ahead of the long holiday weekend. Last week was notable for the reemergence of the tech sector, which led all S&P groups and helped the Nasdaq to its first weekly gain in three weeks. The S&P 500's Thursday close was its 16th record close of 2021 and its first over the 4,000 mark. | | | | The Institute for Supply Management is out with its nonmanufacturing index for March at 10 a.m. ET, with the measure of the U.S. services economy expected to rise to 59.2 from February's 55.3. At the same time, the government issues February factory orders, which are seen increasing by 0.3% after a 2.6% jump in January. There are no earnings reports of note out either this morning or after this afternoon's closing bell. | | | | GameStop (GME) shares fell almost 10% in premarket trading after the company said it may sell up to 3.5 million additional shares. The video-game retailer's decision to possibly sell more stock would allow it to take advantage of its massive surge from a Reddit-fueled trading boom that began in January. (Reuters) | | The U.S. government has put Johnson & Johnson (JNJ) in control of a manufacturing plant in Baltimore that ruined 15 million doses of the company's Covid vaccine. British drugmaker AstraZeneca (AZN) is no longer allowed to use the facility, which belongs to Emergent BioSolutions (EBS), a senior health official told Reuters. (Reuters) | | | Amazon (AMZN) has issued an apology to a Democratic congressman, Rep. Mark Pocan of Wisconsin, after the e-commerce giant dismissed his claim that its delivery drivers sometimes are forced to urinate in bottles due to the demands of the job. Amazon said its response on Twitter to Pocan was "incorrect," while adding it wanted to "look for solutions" for what it called an "industry-wide" problem. (CNBC)
* Waymo CEO departure comes after tenure filled with milestones, hurdles and hype (CNBC) | | | | LG Electronics said it plans to leave the loss-making mobile phone business by the end of July, shifting its focus instead on electric vehicles components, robotics and other products and services. The South Korean company has lost market share to Chinese and other competitors in recent years after it had at one time been the third-largest maker of mobile phones. (Reuters) | | Pioneer Natural (PXD) struck a deal to buy privately held rival shale producer DoublePoint Energy for about $6.4 billion, continuing the consolidation trend in the shale industry. | | | | Moderna (MRNA) received FDA approval to fill Covid vaccine vials with up to 15 doses, up from the previous 10 doses. Moderna said it expects to begin shipping the 15-dose vials within a few weeks. | | | | Morgan Stanley (MS) said it would increase its dividend as soon as restrictions are lifted by the Federal Reserve. The Fed is scheduled to hold the next round of bank stress tests in June. | | | | Planet Fitness (PLNT) is planning to add up to 100 new locations in the coming fiscal year, adding to its current total of more than 2,100. CFO Tom Fitzgerald told the Wall Street Journal the company also wants to boost investment in its app. | | | | Tribune Co. (TPCO) received a $680 million takeover bid worth $16.50 per share from Choice Hotels Chairman Stewart Bainum and Swiss billionaire Hansjorg Wyss. That tops a $635 million deal that the newspaper publisher had previously agreed to with hedge fund Alden Global Capital. | | | | Pinterest (PINS) is in talks to buy photo app company VSCO, according to the New York Times. A potential deal price could not be determined, but VSCO was most recently valued at $550 million. | | Stanford defeated Arizona, 54-53, to win the NCAA women's basketball tournament Sunday, the school's first national title since 1992. A last-second, game-winning shot attempt from Arizona star Aari McDonald was unsuccessful. The men's basketball championship is scheduled for tonight, with undefeated Gonzaga set to take on fellow No. 1 seed Baylor. (AP) | | |
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