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Saturday, July 31, 2021

Moderna Jumps on Joining the S&P 500: What to Watch When the Stock Market Opens Today

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Stock futures are inching higher ahead of retail sales figures and a measure of consumer sentiment, that together will offer fresh clues on the vigor of American shoppers. Here’s what we’re watching ahead of Friday’s opening bell.

  • Shares of vaccine maker

    Moderna

    got a booster shot, jumping 7.9% premarket after the S&P Dow Jones Indices said Moderna will join the S&P 500 prior to the opening of trading on July 21. It will replace

    Alexion Pharmaceuticals,

    which

    AstraZeneca

    plans to acquire.

Medical professionals prepared syringes with doses of the Moderna Covid-19 vaccine at a mass vaccination event in Washington, D.C., April 3, 2021.



Photo:

michael reynolds/Shutterstock

  • Intel

    is exploring a deal to buy GlobalFoundries, according to people familiar with the matter, in a move that would rate as its largest acquisition ever. The semiconductor giant’s shares ticked up 0.9% premarket.

  • Chinese regulators slammed the brakes on

    Didi Global

    ‘s shares, having on Friday entered the ride-hailing giant’s offices to conduct a cybersecurity investigation. U.S.-traded Didi shares were down 4.3% ahead of the bell.

  • American Outdoor Brands

    reported a net profit for the recent quarter after a loss a year earlier, but investors seem less than impressed. Shares of the outdoor sporting and camping goods retailer dropped 9.6% off hours.

  • Alcoa

    shares added 1.9% premarket after the aluminum producer topped second-quarter sales and income expectations as it benefited from strong demand and rising prices.

  • Kansas City Southern

    said revenue during the recent quarter got a boost from a strengthening Mexican peso. The railroad operator’s shares were up 1% premarket.

  • Charles Schwab

    is among the companies reporting earnings Friday.

  • Sovereign-wealth funds, which are among the world’s biggest stock-market players, are unleashing more of their firepower at home, as governments lean on them to reboot pandemic-stricken economies.

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