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 0.6%, 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 0.4%.

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.

-- U.S. industrial production data at 9:15 a.m. ET are expected to register an increase in November on the back of strong demand for autos.

Market Movers to Watch

-- Shares of Take-Two Interactive Software fell 2% premarket. 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 shares ticked 2.5% higher before the bell, after falling more than 8% yesterday. Tesla is set to replace the oil major in the S&P 100 index.

-- Another stock shaken by Tesla: Apartment Investment & Management. The real-estate investment trust, which Tesla will replace in the S&P 500, tumbled more than 70% premarket.

-- Shares of the vaccine maker Moderna were down 1% 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.

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(END) Dow Jones Newswires

December 15, 2020 07:11 ET (12:11 GMT)

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