U.S. stock futures pointed lower Monday as Wall Street looks ahead to a week filled with U.S. inflation readings and the possibility of another government shutdown.
These stocks were poised to make moves Monday:
Boeing (BA) was up 3.7% after a report from Bloomberg said the Chinese government was considering lifting a commercial freeze for the plane maker’s 737 MAX jet later this week when President Joe Biden and China’s President Xi Jinping meet during the APEC Summit in San Francisco. A separate report said Boeing was closing in on a major order for its 777X widebody model from Emirates. Boeing announced Monday that SunExpress, a joint venture of Turkish Airlines and Lufthansa, would buy 90 737 MAX jets.
Hot Chinese ADRs gained in premarket trading as Xi-Biden meeting, China e-commerce sales aid sentiment. Pinduoduo (PDD), Baidu (BIDU), NIO (NIO), XPeng (XPEV), Li Auto (LI) and Bilibili (BILI) rose about 2%; Alibaba (BABA) rose 0.4%; JD.com (JD) rose 0.9%.
U.S.-listed shares of Novo Nordisk (NVO) were rising 1% after data from a large international clinical trial showed the company’s weight-loss drug, Wegovy, helped people without diabetes reduce their risk of suffering heart attacks, strokes and cardiovascular deaths by 20%.
Shares of StoneCo (STNE) were up 6.7% after the Brazilian financial services company reported third-quarter earnings that more than doubled and revenue that topped estimates.
Collective Audience (CAUD) soared another 48% in premarket trading Monday after jumping 31% on the previous trading day. Collective Audience shares jumped 31.4% to $2.97 on Friday, with an intraday range of $1.86 to $3.73, after five consecutive double-digit declines that followed a blank-check company merger.
Harmony Gold Mining (HMY) backed its full-year guidance after first-quarter gold production rose on higher output in most operations, while costs decreased on higher grades. The shares jumped 10.1% in premarket trading.
Verve Therapeutics (VERV) crashed 20% in premarket trading. The company said interim data from a phase 1b clinical trial of its drug candidate for the treatment of heterozygous familial hypercholesterolemia showed "dose-dependent reductions of disease-causing low-density lipoprotein cholesterol."
Earnings reports are expected Monday from Tyson Foods (TSN) and Monday.com (MNDY).
Reports are expected later in the week from Walmart (WMT), Home Depot (HD), Target (TGT), Cisco Systems (CSCO), Palo Alto Networks (PANW), TJX Cos. (TJX), Alibaba (BABA), JD.com (JD), Advance Auto Parts (AAP), and Applied Materials (AMAT).
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