S&P 500, Bitcoin, Li Auto: What to Watch When the Stock Market Opens Today

U.S. inventory futures fell as jitters in China’s indebted property sector rippled into global markets. Right here’s what we’re watching forward of Monday’s buying and selling session.

  • The Cboe Volatility Index—Wall Avenue’s so-called worry gauge, often known as the VIX—ticked as much as 25.92, its highest stage since mid-Might.
  • Shares of banks and monetary companies corporations, which are typically among the many most economically delicate shares, declined premarket. Financial institution of America and Goldman Sachs Group shares every fell 3%.
  • Vitality shares fell premarket as futures for Brent crude, the benchmark in worldwide power markets, fell 1.6% to $74.13 a barrel. Shares of Occidental Petroleum fell 5%, Devon Vitality declined 4.3% and Marathon Oil shed 4.4%.
  • Shares of bitcoin mining shares fell alongside the value of the world’s largest cryptocurrency by market worth. Hut 8 Mining shares contracted virtually 10% and Marathon Digital Holdings shed 9.4% premarket. Bitcoin’s greenback worth fell 8.7% to $43,462.74 from its 5 p.m. ET stage Sunday. Different cryptocurrencies additionally fell, with joke crypto dogecoin tumbling 12% over the identical interval.
  • U.S.-listed shares of Li Auto fell 5.5% premarket after the corporate revised decrease its outlook for third-quarter automobile deliveries attributable to Covid-19 hampering chip manufacturing in Malaysia.
  • Pfizer and accomplice BioNTech stated their Covid-19 vaccine was discovered to be protected and generated a robust immune response in youngsters aged 5 to 11 years in a late-stage research however the constructive information wasn’t sufficient the shake the broader market rout. Pfizer shares edged 1.5% decrease premarket and U.S. listed shares of BioNTech fell 4.8%.
  • AstraZeneca shares bucked the broader selloff, with U.S.-listed shares up 1.3% premarket. The corporate shared robust information on its new breast most cancers drug Enhertu at a big medical convention over the weekend.
  • Particular person-investor favourite AMC Leisure declined 5.9% premarket. GameStop fell 4.2%
  • U.S.-listed shares of Chinese language corporations declined, with Alibaba Group Holding down 3.7%, down 3.9% and Baidu down 2.7%.
Chart of the Day
  • Natural-gas prices have surged, prompting worries about winter shortages and forecasts for the costliest gas since frackers flooded the market greater than a decade in the past.

Write to Caitlin Ostroff at | S&P 500, Bitcoin, Li Auto: What to Watch When the Inventory Market Opens At the moment


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