| What to watch today: S&P 500 looks to add to Thursday's record close | | |  | FRI, JUN 11, 2021 | | | | AS OF FRI, JUN 11, 2021 • 08:35 ET | | Dow Jones Fut | | 34,466.24 | | Current: | 34,450.00 | | Change: | 96.00 | | Impl. Open: | 110.76 | | | S&P 500 Fut | | 4,239.18 | | Current: | 4,236.25 | | Change: | 7.50 | | Impl. Open: | 8.07 | | | NASDAQ 100 Fut | | 13,960.35 | | Current: | 13,970.00 | | Change: | 19.25 | | Impl. Open: | 18.65 | | | Russell 2000 Mini | | 2,311.41 | | Current: | 2,316.70 | | Change: | 10.80 | | Impl. Open: | 13.29 | | U.S. stock futures rose Friday, one day after the S&P 500 logged its 27th record close of 2021 but its first since May 7. Shaking off a red-hot inflation report, the Dow also rose Thursday, breaking a three-session losing streak and finishing less than 1% from last month's record close. The Nasdaq's gain Thursday brought the tech-heavy index within 1% of its last record close in late April. (CNBC)
Ahead of Friday's open on Wall Street, the Nasdaq was up 1.5% for the week, on pace for a fourth straight weekly gain for the first time since January. The S&P 500 was looking to clinch a three-week winning streak. The Dow was off 0.8% for the week, on track to break two positive weeks in a row. (CNBC) | | | | The 10-year Treasury yield ticked lower Friday, trading just above 1.4%, around its early March lows before it spiked above 1.7% to 14-month highs later that month. On today's economic calendar, the University of Michigan is out with its mid-June consumer sentiment index at 10 a.m. ET. An increase to 84.4 from May's 82.9 reading is expected. (CNBC) | | Tesla (TSLA) kicked off deliveries of its new Model S Plaid, with a livestream event Thursday night at the electric auto maker's test track near its factory in Fremont, California. CEO Elon Musk made his entrance by driving a Model S Plaid around the track and onto the stage. The Model S Plaid, a high-performance version of Tesla's flagship sedan, starts at $129,990. (CNBC) | | | | China's version of Uber (UBER), Didi Chuxing, early Friday filed to list in New York in what many expect could be the largest initial public offering in the world this year. Founded in 2012, Didi ranks among the five largest privately held start-ups in the world and counts SoftBank, Uber and Tencent as major investors. (CNBC) | | | Biogen (BIIB) added 1.4% in Friday's premarket after UBS upgraded the drug maker's stock to "buy" from "neutral," and Bernstein raised its rating to "outperform." Both firms base their moves on the potential sales bump from the FDA's approval this week of the biotech's Alzheimer's treatment.
A third member of a key FDA advisory panel has resigned over the agency's controversial decision to approve Biogen's new Alzheimer's drug, CNBC has learned. Shares of Biogen surged 38% on Monday after the FDA's approval. | | | | Vertex Pharmaceuticals (VRTX) halted development of an experimental drug designed to treat a rare genetic disease called AAT Deficiency. Vertex said the drug raised levels of a deficient protein, but not enough to provide a substantial benefit. Vertex plunged 13.9% in the premarket. | | | | Snowflake (SNOW) Shares fell 3.7% in premarket trading, following the cloud computing company's presentation of financial targets at its Investor Day meeting. Snowflake set a target of reaching $10 billion in annual product revenue by 2029, compared to $554 million in its fiscal year that ended in January. | | | | Chewy (CHWY) earned 9 cents per share for its latest quarter, compared to consensus forecasts for a 3 cents per share loss. The pet products retailer's revenue also beat estimates and gave an upbeat revenue outlook. Chewy also warned of labor shortages and supply chain issues. Shares fell nearly 1.5% in the premarket. | | | | Dave & Buster's (PLAY) reported a surprise profit for its first quarter, with earnings of 40 cents per share. Analysts had predicted a loss of 16 cents per share for the restaurant chain. Dave & Buster's said the recovery in its business has continued through the first part of the current quarter, and its shares jumped 5.5% in premarket trading. | | | | American Airlines (AAL) is investing $25 million in electric flying taxi startup Vertical Aerospace. American said it planned to buy up to 250 of the electric aircraft, which are set for an initial test flight later this year. | | | | Shares of Livent (LTHM), a lithium power specialist, fell 2% in the premarket after announcing a public offering of 13 million shares at $17.50 per share. Livent plans to use the proceeds for general corporate purposes, repaying debt, and boosting capital spending. | | | | Monday.com (MNDY), an Israel-based maker of work management software, rose modestly in Friday's premarket, one day after popping 15% in its trading debut. The company priced its initial public offering at $155 per share and closed Thursday at $178.87. The stock hit a high of $181.85. | | | | Callaway Golf (ELY) is set to replace GrubHub (GRUB) in the S&P MidCap 400 index, effective prior to the opening of trading on June 15. GrubHub is in the process of being acquired by British firm Just Eat Takeaway. Callaway will be replaced in the S&P SmallCap 600 by Apollo Medical (AMEH). Callaway slid 3.7% in premarket trading, while Apollo Medical surged 11.9%. | | |
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