Fox News medical contributor Dr. Marc Siegel discusses coronavirus in the White House and Europe’s plans to lockdown again as virus cases increase.
Stock futures tumbled on Monday, as traders expressed concerns on whether U.S. lawmakers would pass another fiscal stimulus bill to support the economy and as Europe put additional restrictions in place to fight the COVID-19 pandemic.
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Dow Jones futures were falling nearly 300 points, a decline of more than 1%, while the NASDAQ Composite and S&P 500 were both down by similar percentages. This follows a Friday rally that was, in part, fueled by vaccine progress.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 28028.65 | -306.92 | -1.08% |
| I:COMP | NASDAQ COMPOSITE INDEX | 11463.489093 | -84.79 | -0.73% |
| SP500 | S&P 500 | 3432.81 | -32.58 | -0.94% |
Over the weekend, Speaker of the House Nancy Pelosi and White House chief of staff Mark Meadows both accused the other side of moving the goalposts. Pelosi, however, added an agreement “could happen” this week.
STOCKS END MIXED AS ASTRAZENECA RESTARTS COVID-19 TRIALS, J&J TO FOLLOW
European indices were also sagging on Monday, as the Italian government said it would close bars and restaurants at 6 p.m., while gyms and movie theaters were being shut to fight off the second wave of COVID-19 infections. Separately, Spain said it would introduce a curfew, starting at 11 p.m.
The German DAX fell 2.7%, while the French CAC 40 dropped 1.2% and the U.K. FTSE 100 declined 0.6%.
On Sunday, the U.S. reported 60,789 new cases of coronavirus, down from the prior few days, but still rising. Deaths in the U.S. topped 225,000, the most of any country, according to data compiled by Johns Hopkins University.
EARNINGS, ECON ON TAP
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HAS | HASBRO INC. | 86.58 | -5.42 | -5.89% |
| TWLO | TWILIO INC | 311.49 | +5.16 | +1.68% |
| NXPI | NXP SEMICONDUCTORS N.V. | 135.40 | -1.78 | -1.30% |
The economic calendar is light on Monday, with traders getting a look at new home sales for September at 10 a.m. However, earnings season is set to kick into high gear, with Twilio Inc. and NXP Semiconductor all set to share results.
Hasbro Inc. shares were falling 3% despite the toy and games company posting better-than-expected revenue.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SAP | SAP SE | 118.14 | -31.60 | -21.10% |
SAP shares were falling nearly 20% after the European business software maker lowered its outlook for 2020, noting the coronavirus pandemic has pushed back investments by its customers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DNKN | DUNKIN BRANDS GROUP | 104.32 | +15.53 | +17.49% |
Shares of Dunkin’ Brands were soaring, gaining 18%, after the company held talks to sell itself to Inspire Brands, FOX Business confirmed. The deal was first reported by The New York Times.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BABA | ALIBABA GROUP HOLDING LTD | 309.92 | +3.64 | +1.19% |
Ant Group, the Chinse financial technology company, said it would raise $34.5 billion in a dual-listed initial public offering in Hong Kong and China, the largest IPO of all time. Chinese e-commerce giant Alibaba owns roughly one-third of Ant Group, according to filings.
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West Texas Intermediate crude oil moved below the $40 a barrel level, declining 2% to $39.02, while gold traded at $1,904.70 an ounce.
