Here’s what we’re watching before Friday’s trading action gets underway.
—U.S. stock futures were mixed, with tech stocks poised for losses and the Dow Jones Industrial Average on track for a fresh record.
Nasdaq-100 futures dropped 1.6%. Futures tied to the S&P 500 fell 0.4% and contracts linked to the Dow Jones Industrial Average ticked up 0.2%.
What’s Coming Up
—The University of Michigan’s preliminary consumer sentiment index for March, due at 10 a.m., is expected to rise to 78.9 from 76.8 at the end of February.
Market Movers to Watch
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shares shot 17% higher ahead of the bell after the biotech drug maker said after Thursday’s close that studies show its Covid-19 vaccine is highly effective.
—Major banks are on the rise.
and
were all up more than 1% premarket, another sign of an investor shift from growth to value.
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sank 9.6% premarket after it announced a leadership change and set revenue guidance lighter than what analysts were expecting.
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dropped 3.2% premarket. The electronic-signature company topped revenue and earnings expectations for its latest quarter while delivering a better-than-expected outlook. But it has also already been a big winner of the pandemic, with its stock up 200% over the past year.
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was up 7% premarket. The resorts operator’s earnings report beat forecasts, and it said it has experienced some progress during the ski season in the U.S. and Canada.
Market Fact
The Nasdaq Composite is now just 4.9% from its Feb. 12 record high, after sliding into correction territory—a fall of at least 10% from a recent high—on Monday.
Chart of the Day
As the rollout of…
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