Futures for US stocks were mixed, with contracts in the Dow Jones Industrial Average rising, the Nasdaq-100 falling and the S&P 500 flat. This is what we are seeing as trading begins on Monday.
- Blank check company Gores Guggenheim was up 4.7% pre-market. He’s closing in on a deal to combine with Polestar That would value the Swedish electric vehicle maker at $ 21 billion.
- Crude prices are at the highest level in nearly three years, and the shares of major producers are also rising before commercialization. Occidental Petroleum added 2.5%, Exxon Mobil gained 1.3% and ConocoPhillips was up 1.5%.
- Cruise operator Carnival’s shares rose 1.8% pre-market after it said it had sailed from the port of Los Angeles over the weekend for the first time since last year. On Friday, it reported that its third-quarter trips had had positive cash flow. Its rival Royal Caribbean advanced 0.8%.
- Major airlines were also getting a boost ahead of the bell amid hopes for a further economic reopening from the pandemic. United Airlines, Delta Air Lines and American Airlines were up 0.7% each, and Southwest Airlines was up 1%.
- But then, not everyone is excited about people getting back to their normal routines. Zoom Video Communications fell 1% before commercialization.
- PG&E shares fell 2.3% pre-market. A California prosecutor has filed a series of criminal charges against the utility company in connection with the Zogg fire, which killed four people.
- Aurora Cannabis and Concentrix are among the companies that reported earnings on Monday.
Chart of the day
- Intraday traders are targeting some companies that recently closed SPAC mergers, reinvigorating some of the enthusiasm for meme stocks that helped make such deals popular earlier in the year.
Write James Willhite at [email protected]