Tesla, Coinbase, Merck: What to Watch When the Stock Market Opens Today
- Date: 08-Nov-2021
- Source: The Wall Street Journal
- Sector:Financial Markets
- Country:Middle East
Tesla, Coinbase, Merck: What to Watch When the Stock Market Opens Today
U.S. stock futures wavered, pointing to a pause in the rally that pushed major indexes to record highs for the umpteenth time this year last week. Here’s what we’re watching before Monday’s trading session gets underway.
Tesla shares fell more than 5% ahead of the bell in heavy trading. Twitter users directed Chief Executive Elon Musk to sell a 10th of his stock—valued at around $21 billion Friday—in an online poll.
Cryptocurrency exchange Coinbase Global rose 4.8% as bitcoin rallied 4.9% to $65,955.68. The cryptocurrency fell for three straight days through Friday.
The selling pressure on Merck continued, pushing the pharmaceutical stock down more than 2% premarket. Merck skidded on Friday after Pfizer said preliminary data showed its Covid-19 pill was effective in preventing severe illness. Merck’s own coronavirus pill was cleared for use in the U.K. last week.
Steel Dynamics rose 4.5% after S&P Global Ratings lifted its outlook for the Indiana-based producer to positive from stable. “We are as bullish for the fourth quarter and going into next year as
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