Here’s what we are watching as markets kick into gear Monday.
- Stocks are poised for a sharp rebound. S&P 500 futures rose Monday, signaling that stocks may recover some ground this week after a bout of volatility driven by swings in technology shares. Tesla and Apple are among the heavyweights gaining in premarket trading. Read our full markets wrap here.
- What to watch: It’s a light day for economic news, though a number of central banks including the Fed may grab the spotlight later this week.
Market Movers to Watch:
- Oracle surged up almost 7% ahead of the opening bell after securing an agreement for TikTok’s U.S. business. Microsoft shares are largely flat, suggesting some think the suitor had a narrow escape given the restrictions surrounding TikTok’s powerful algorithms.
- Investors seem to like everything about Nvidia scooping up a British chip designer from SoftBank. They sent Nvidia shares up over 6% in premarket trading, while SoftBank ended the day in Tokyo almost 9% higher.
- Gilead’s offer to pay a 108% premium for a biotech firm isn’t winning much favor. The stock edged down 0.4% after Gilead disclosed it will pay $21 billion to buy Immunomedics and its breast-cancer drug.
Must Reads Since You Went to Bed: