Futures are on the rise, reversing earlier losses to suggest Wall Street indices may rise on their first trading day of the fourth quarter. Here’s what we’re seeing before the market opens on Friday.
- Favorite movie channel and memes stock AMC Entertainment AMC 1.56%
increased 3.5% pre-market after announcing the debt buyback that lowered its overall interest costs.
- Cryptocurrencies were broadly on the rise on Friday and are likely enjoying greater optimism heading into the fourth quarter after recent rangebound trading, said Naeem Aslam, chief market analyst at brokerage firm AvaTrade. The price of Bitcoin jumped 8.9% from its 5 p.m. ET level on Thursday. Fed Chairman Jerome Powell said on Thursday that the United States has no plans to ban cryptocurrencies, which could bolster positive sentiment after China ruled them illegal last week . Coinbase COIN crypto exchange 2.02%
Global shares gained 3.2% before market.
Lordstown Motors RIDE -16.42%
climbed 9.3% before the bell. The electric truck maker plans to sell its Ohio plant to contract assembler Foxconn, marking a major turning point for the cash-strapped startup as it struggles to put its first pickup on the Marlet.
Merck MRK 9.24%
stocks jumped 8.4%. The drugmaker and partner Ridgeback Biotherapeutics said their experimental Covid-19 pill helped prevent people at high risk early in the disease in a pivotal study from becoming seriously ill and dying. Actions of moderna MRNA vaccine manufacturers -11.76%
and Novavax NVAX -16.61%
fell 5.6% and 8.4% respectively.
Jefferies JEF Financial Group 2.30%
stocks added 2.2% pre-market. The financial services company reported higher profits in the last quarter, supported by increased revenue driven by strong investment banking activity.
Zoom Video Communications ZM 3.33%
offer of nearly $ 15 billion to acquire contact center company Five9 FIVN 5.75%
was shot Thursday, dashing a major expansion plan for the video conferencing center. Zoom shares gained 3.2%, Five9 shares rose 2.7%.
Card of the day
- A niche in the cloud software market that helps businesses connect with customers has produced impressive returns for investors. Soaring stock prices are helping fuel a chord frenzy in space.
Write to James Willhite at email@example.com
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