DVN > Futures are down, while energy commodities are extending gains. Here's what we're watching ahead of Monday's market open.
-- Energy producers were getting a boost from the run up in prices for crude
and natural gas. Occidental Petroleum rose 3.1% premarket, Devon Energy
gained 2.5%, Hess climbed 3% and Phillips 66 added 2.3%.
-- Bitcoin prices are also gaining, and stocks in the crypto ecosystem were
reaping gains. Bitcoin miner Marathon Digital climbed 2.9%, U.S.-traded
shares of Hong Kong-based BIT Mining gained 3% and Coinbase inched up
0.8%.
-- Southwest Airlines shares are losing altitude premarket, declining 1.9%
from Friday's closing price. The carrier canceled more than 1,800 flights
over the weekend, citing bad weather and air-traffic-control problems in
Florida that rippled throughout its operation.
-- Emerson Electric slipped 1.1% premarket. It plans to merge two of its
software businesses with Aspen Technology in a roughly $11 billion
deal aimed at capturing growing demand for industrial technology. Aspen's
stock added 3.5%.
-- Merck applied for emergency use authorization for its Covid-19 pill, but
investors seemed queasy. Its shares slipped 1.2% premarket.
-- Apple is seeking a stay on a federal judge's order that it allow app
developers to link to other payment methods while its appeal works its
way through the system. The iPhone maker's shares slipped 0.8% premarket.
-- Hasbro shares fell 1.2% off hours. The global toy, game and entertainment
company said Chief Executive Brian Goldner will take a leave of absence
for medical care.
Chart of the Day
-- The extended climb in oil prices is leaving some other industrial
commodities behind, a divergence that reflects bets that energy supply
shortages will offset any slowdown in the global economy.
Write to James Willhite at james.willhite@wsj.com
(END) Dow Jones Newswires
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