All three major benchmarks are higher ahead of the bell
As the last week of the year kicks off, investors are still eyeing the rapidly spreading Covid-19 omicron variant. Deeper concerns have been assuaged though, after studies suggest it has a milder and lower hospitalization risk than other variants. On Wall Street, major benchmarks are looking to extend their three-day win streaks after the Christmas holiday. Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) futures are eyeing solid gains this morning, despite travel stocks moving lower amid Covid-19 cancellations, while futures on the S&P 500 Index (SPX) inch higher as well.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts traded on Thursday, and 960,727 put contracts. The single-session equity put/call ratio rose to 0.49, and the 21-day moving average stayed at 0.49.
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GoDaddy Inc (NYSE:GDDY) is up 4.6% before the bell, after the Wall Street Journal reported that activist investor Starboard Value LP has purchased a 6.5% stake in the company, which is worth about $800 million. The firm plans to push the domain server to improve its performance. Coming into today, GDDY is down 8.4% in 2021.
- The shares of BridgeBio Pharma Inc (NASDAQ:BBIO) are plummeting in electronic trading, down 66.2%, after the company's heart-muscle disorder drug acoramidis failed to meet the main goal of a late-stage trial. CEO Neil Kumar called the results "disappointing and baffling," while the negative price action has BBIO set to add to its 41.2% year-over-year deficit.
- China-based DiDi Global Inc (NYSE:DIDI) is down 1.4% pre-market, after the Financial Times reported that the company is blocking its employees from selling shares indefinitely. This move follows the company's plans to delist in the U.S., as well as new regulations in China.
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Stocks Lower in Asia
Asian markets edged lower on Monday, with the Shanghai Composite in China dropping 0.06%, while the Nikkei in Japan shed 0.4% on the day, and the South Korean Kospi fell 0.4%. Investors pored over China’s industrial profit data for November, which rose 9% year-over-year. Meanwhile, the Hong Kong Hang Seng was closed for the holiday.
Markets are slightly higher in Europe, as investors attempt to brush off a rise in Covid-19 cases over the weekend. At last check, the French CAC 40 is up 0.3%, while the German DAX is 0.2% higher. The London FTSE 100 is closed for the holiday.