US equity futures rose on Monday, indicating that major indices are recovering ground after the worst weekly performance of the S&P 500 since February. Here’s what we’re watching ahead of Monday’s opening.
- Airbnb shares fell 1.8% after Goldman Sachs Group analysts recommended investors sell the stock. Airbnb and other companies offering in-car accommodation services could benefit, as the Delta variant dampens enthusiasm for air travel, writes Laura Forman, columnist for Heard on the Street.
- Uranium Energy, a Texas-based miner and explorer, jumped 7.2%. Shares of uranium miners rise as retail traders in Reddit’s Wall Street Bets forum focus their energies on the rallying radioactive metal.
- AMC Entertainment, a favorite of active individual traders on Reddit, was up 3%. Stocks even distort the way some investors view certain parts of the market.
- Lyft gained 2.1% after Goldman recommended buying the rideshare shares and set a target price of $ 64 per share.
- Avantor has said it will sell shares valued at $ 750 million. Shares of the chemicals and materials company fell 4.3%.
- ViacomCBS stock rose 0.8%. The media company is reorganizing the operations of its film and television production unit Paramount Pictures as part of a larger management reshuffle, The Wall Street Journal reported.
- Biogen shares were up 0.3% before the bell. Pharmaceutical stock fell last week after the company said the launch of its Alzheimer’s drug, Aduhelm, “was slower than we originally expected.”
- Invitation Homes gained 0.3% pre-market. The single-family home rental company said earlier this month that it recently received a letter from the Federal Trade Commission requesting information on how the company conducts its business in general and specifically during the Covid-19 pandemic.
- APA Corp. , the holding company of oil and gas company Apache, grew 3.4% in pre-market trading. Crude oil prices soared after OPEC said it expected global demand for oil to exceed pre-pandemic levels next year.
- Wayfair added 1.6%. Shares of the housewares retailer fell in the past month, and Citigroup and Credit Suisse lowered their target for the stock in August.
- Unum Group, a Tennessee-based insurer, rose 0.6%. The S&P Dow Jones Indices said earlier this month that Unum will impact the S&P 500 and the S&P MidCap 400 Index.
Card of the day
After a record bull run for the US stock market this year, many Wall Street analysts are starting to warn investors could be on a bumpy ride.
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