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 OXY 3.54% rose 3.4% premarket, Devon Energy DVN 3.80% gained 3.2%, Hess HES 6.63% climbed 2.8% and Phillips 66 PSX 3.57% added 2.1%.
- Bitcoin prices are also gaining, and stocks in the crypto ecosystem were reaping gains. Bitcoin miner Marathon Digital MARA 2.79% climbed 2.1%, U.S.-traded shares of Hong Kong-based BIT Mining BTCM -2.40% gained 2.7% and Coinbase COIN -1.37% inched up 0.5%.
- Southwest Airlines LUV -0.22% shares are losing altitude premarket, declining 3.4% 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 EMR -0.72% slipped 1.8% premarket. It plans to merge two of its software businesses with Aspen Technology AZPN 2.84% in a roughly $11 billion deal aimed at capturing growing demand for industrial technology. Aspen’s stock added 4.7%.
- Apple AAPL -0.27% 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 0.7% premarket.
- Hasbro HAS 0.77% shares fell 1.7% premarket. 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.
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