Take-Two, Occidental Petroleum, Moderna: What to Watch When the Stock Market Opens Today

By Mischa Frankl-Duval 

Here's what we are watching as markets kick into gear Tuesday. -- U.S. stock futures edged higher as investors cautiously welcomed signs of progress in negotiations over an economic relief package in Washington.

Futures tied to the S&P 500 rose 0.7%, suggesting the benchmark index may open higher after falling for a fourth consecutive day on Monday. Futures for the technology-heavy Nasdaq-100 index ticked up 0.6%.

Read our full market wrap here.

What's Coming Up

-- Nordson, which makes dispensing equipment for adhesives, sealants and coatings, reports its quarterly earnings after markets close. -- Data released at 9:15 a.m. ET are expected to show that U.S. industrial production rose in November on the back of strong demand for autos.

Market Movers to Watch

-- Take-Two Interactive Software rose 0.4% premarket, having earlier fallen as much as 2%. Rival videogame publisher Electronic Arts Inc. said Monday it reached a $1.25 billion deal to acquire Codemasters, which, had been evaluating an earlier offer from Take-Two. -- Occidental Petroleum ticked 1.5% higher before the bell, after falling more than 8% yesterday. Tesla is set to replace the oil major in the S&P 100 index.

-- Apartment Investment & Management tumbled more than 82% premarket. The company today said it had separated its businesses into two distinct, publicly traded companies, with some assets trading under the same ticker, AIV.

-- Shares of the vaccine maker Moderna rose 1.6% premarket. The U.S. Food and Drug Administration will release its analysis of the company's Covid-19 vaccine today.

Market Fact

-- The best performing stock in the Stoxx Europe 600 index this year is Sinch AB, which links up businesses and consumers on smartphones. Its shares are up 332% as of Tuesday, handily besting the second-best performer in Europe, meal-kit delivery service HelloFresh SE, up a mere 214%.

Chart of the Day

Stock buyers have been scooping up shares of real-estate companies that are beaten down but stand to benefit from the economy's eventual reopening.

Must Reads Since You Went to Bed

High-Frequency Traders Push Closer to Light Speed With Cutting-Edge Cables

China's Economy Continues Broad Recovery Despite Covid-19 Surge Elsewhere

Twitter Fined $546,000 in First Cross-Border GDPR Case for U.S Tech Firm

Fannie, Freddie Privatization Decisions Likely to Be Left to Biden Administration

Real Estate's Biggest Losers Enjoy a One-Month Bounce

(END) Dow Jones Newswires

December 15, 2020 08:43 ET (13:43 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.