Roku, Lennar, Bitcoin: What to Watch When the Stock Market Opens Today

By Mischa Frankl-Duval 

Here's what we are watching as markets kick into gear Thursday. -- U.S. stock futures rose as investors cheered signs of progress toward a fresh stimulus package that could support the economy through a potential winter slowdown.

Futures tied to the S&P 500 rose 0.5%, suggesting the benchmark stocks gauge may rise for a third-straight day at the opening bell. The S&P 500 closed at its second-highest level ever on Wednesday. Futures tied to the technology-focused Nasdaq-100 also rose 0.5%.

The dollar is extending its recent decline after most Fed officials yesterday projected interest rates will stay near zero for at least three years.

What's Coming Up

-- FedEx will report its quarterly earnings after the close.

-- Data on initial jobless claims for the week ending Dec. 12 are due at 8:30 a.m. ET. The number of people applying for unemployment benefits is expected to have eased slightly, but not enough to allay concerns of weakening job gains.

-- The Kansas City Fed's manufacturing survey for December, due at 11 a.m., is expected to fall to 10 from 11 a month earlier.

Market Movers to Watch

-- Roku shares jumped almost 7% premarket after the company reached a deal on Wednesday with AT&T Inc.'s WarnerMedia to carry the HBO Max streaming service, ending an eight-month standoff between the companies.

-- Shares of homebuilder Lennar 3.4% before the bell after the company said it expects first-quarter home deliveries and new orders to be better than analysts are predicting.

-- Accenture shares rose 5.5% after the consulting firm posted profit and revenue that beat analysts' expectations.

-- Moderna stock rose 1% in offhours trade. The chairman of a federal vaccine-advisory committee said the panel is likely to recommend that the Food and Drug Administration grant an emergency-use authorization for the company's new Covid-19 vaccine when the panel meets Thursday.

-- Shares of online food retailer Wunong Net Technology soared 14.4% in premarket trade. The company's shares closed at $65.10 yesterday. They started trading at $5 on Tuesday after Wunong priced its IPO at $5 a share.

-- Sanderson Farms rose 1.4% premarket after the company swung to a fourth-quarter profit.

Market Fact

-- Bitcoin surged another 8.5% Thursday to $23,046, according to CoinDesk, part of a furious rally that has seen the digital currency nearly triple this year.

Chart of the Day

Research shows that companies and governments that borrow using so-called green bonds can save a bit of money. The market for these bonds, which fund environmental objectives such as renewable power, is booming.

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(END) Dow Jones Newswires

December 17, 2020 08:13 ET (13:13 GMT)

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