Category: Strategy Management

U.S. stock futures dropped in a sudden move after the U.S. Food and Drug Administration said it’s recommending a pause in the Johnson & Johnson COVID-19 vaccine after reported cases of blood clotting.

Futures for the Dow Jones Industrials stumbled 119 points, or 0.3%, to 33,512.

Futures for the S&P 500 faded 11.25 points, or 0.3%, to 4,109.25.

Futures for the NASDAQ Composite index fell 8.75 points, or 0.1%, to 13,800.

J&J shares fell 3% in pre-market trading.

There have been six reported cases of a rare and severe type of blood clot after receiving the J&J vaccine, the FDA said. More than 6.8 million doses of the J&J vaccine have been administered in the U.S. The agency is calling for a pause in the vaccine until Centers for Disease Control and Prevention concludes its investigation into these cases.

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Futures contracts tied to the major U.S. stock indexes ticked lower early Monday, suggesting Wall Street could see muted trading after reaching fresh records last week.

Futures for the Dow Jones Industrials retreated 53 points, or 0.2%, to 33,629.

Futures for the S&P 500 stumbled 6.25 points, or 0.2%, to 4,113.25.

Futures for the NASDAQ Composite index stepped back 39.25 points, or 0.3%, to 13,790.25 Friday.

Reopening plays fell slightly in early trading Monday with shares of Carnival, United Airlines and Gap off about 1% in the pre-market.

Tesla gained 1.5% to $687.01 in early trading after Canaccord Genuity upgraded the stock to buy and raised its price target to $1,071, citing its battery innovations.

Shares of Nuance Communications jumped 21% in early trading as Microsoft is in talks to acquire the speech-recognition company.

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Stocks in Canada’s largest centre lifted themselves from lower perches to within sight of breakeven by the close on Friday, with health-care and industrials shouldering much of the climb.

The TSX remained in the red 0.84 points from Thursday’s all-time high, to close Friday at 19,228.03. On the week, however, the index enjoyed a gain of 237 points, or 1.26%.

The Canadian dollar gained 0.23 cents at 79.82 cents U.S.

Among energy stocks, Tourmaline Oil stepped back 75 cents, or 3%, to $23.91, while Cenovus Energy dipped 25 cents, or 2.6%, to $9.52.

In the gold patch, New Gold faded 10 cents, or 4.3%, to $2.24, while Centerra Gold lost 17 cents, or 1.5%, to $11.59.

In consumer staples, North West Company gave back 76 cents, or 2.1%, to $36.13, while SunOpta ditched 59 cents, or 1.5%, to $38.89.

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