| What to watch today: Dow futures higher as index looks to set another record, ether tops $4,000 | | |  | MON, MAY 10, 2021 | | | | AS OF MON, MAY 10, 2021 • 07:46 ET | | Dow Jones Fut | | 34,777.76 | | Current: | 34,788.00 | | Change: | 102.00 | | Impl. Open: | 102.24 | | | S&P 500 Fut | | 4,232.60 | | Current: | 4,227.00 | | Change: | 1.75 | | Impl. Open: | .90 | | | NASDAQ 100 Fut | | 13,719.63 | | Current: | 13,648.25 | | Change: | -61.50 | | Impl. Open: | -63.38 | | | Russell 2000 Mini | | 2,271.63 | | Current: | 2,253.00 | | Change: | -14.90 | | Impl. Open: | -16.13 | | | U.S. stock futures were mixed of the Monday session, but they are pointing to a record intraday high at the open for the Dow Jones Industrial Average following the 30-stock index's 24th record close of the year Friday. Dow futures implied an opening gain of about 100 points, while S&P 500 futures were flat and Nasdaq futures slightly lower. (CNBC) | | | | The Dow is currently riding a five-day win streak and leads the major averages with a 13.6% year-to-date gain. The S&P 500, meanwhile, has built a three-day win streak and is coming off its 26th record close of the year. While the Nasdaq has been up the past two trading days, the tech-heavy index has posted three consecutive weekly losses and trails the other averages by a significant margin with a 6.7% gain for 2021. | | | | Ether, the world's second-largest cryptocurrency by market value, broke above $4,000 for the first time Monday. Ether, which is the Ethereum blockchain's native digital token, has risen more than 450% so far this year, far outpacing the returns of bitcoin over the same period. Ether's market cap is now approaching $500 billion, while bitcoin's remains above $1 trillion. (CNBC) | | | | There are no government economic releases scheduled for today. CNBC's Steve Liesman will be interviewing Chicago Fed President Charles Evans live on "Squawk Box" around 8:30 a.m. ET. | | | | Earnings reports out this morning include Marriott (MAR), Energizer Holdings (ENR), US Foods (USFD), BioNTech (BNTX), The Trade Desk (TTD) and Viatris (VTRS). Wynn Resorts (WYNN), Novavax (NVAX), SmileDirectClub (SDC), Virgin Galactic (SPCE), Occidental Petroleum (OXY), Simon Property (SPG) and Roblox (RBLX) are scheduled to report after today's closing bell. | | Coronavirus restrictions in the U.K. are likely to further ease in the coming days. Prime Minister Boris Johnson is expected to announce the steps Monday, which includes allowing restaurants and pubs to offer indoor service and a relaxation of restrictions around group gatherings among people from different households. Covid cases in the country have fallen sharply since January and more than 50% of the U.K. population has received at least one vaccine dose. (CNBC) | | | | Clubhouse is rolling out a version of its live audio app for Android users in the U.S. The move helps the buzzy startup, which quickly achieved a multi-billion dollar valuation in private markets, expand its pool of potential users. It also comes as the durability of Clubhouse's success has been called into question as Covid restrictions ease and people spend less time at home. (Reuters / CNBC) | | | | Churchill Downs (CHDN) said Sunday it will invalidate Medina Spirit's recent Kentucky Derby victory if it's confirmed that the champion horse failed a drug test. Runner-up Mandaloun will be declared the winner if the finding of Medina Spirit's test is upheld. Churchill Downs also suspended Medina Spirit's trainer, Bob Baffert, from entering horses to compete at its racetrack. (CNBC) | | Simon Property (SPG) and Authentic Brands are buying apparel retailer Eddie Bauer from private equity firm Golden Gate Capital for an undisclosed amount. Eddie Bauer will join several other well-known brand names owned by the two companies, including Aeropostale, Forever 21 and Brooks Brothers. | | | | AstraZeneca (AZN) may skip applying to the FDA for emergency use authorization for its Covid vaccine, according to people familiar with the matter who spoke to the Wall Street Journal. It would instead focus on the more lengthy full approval process. | | | | Activist investor Starboard Value is putting up a minority directors slate for the board of software company Box Inc. (BOX), according to a Bloomberg report. Starboard owns an 8% stake in Box, but does not feel that performance has improved sufficiently since it invested in 2019. | | | | Live Nation Entertainment (LYV) was upgraded to "buy" from "hold" at Jefferies, which said a 13% pullback has provided an attractive entry point for the concert and live event promoter. Jefferies calls Live Nation a "pure-play recovery" and long-term growth story. | | | | Arthur J. Gallagher (AJG) is in talks to buy a portfolio of assets from fellow insurance company Aon (AON) and consulting firm Willis Towers Watson (WLTW) for about $3 billion, according to a Bloomberg report. | | | | UK competition regulators have begun a formal inquiry into the proposed acquisition of Intel's (INTC) flash memory and solid state hard drive businesses by South Korea's SK Hynix. Intel agreed to sell the units to Hynix in October for about $9 billion. Regulators want to determine if the transaction would lead to a substantial lessening of competition. | | |
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