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 2.7% premarket, Devon Energy gained 2.2%, Hess climbed 2.2% and Phillips 66 added 1.7%.
- Bitcoin prices are also gaining, and stocks in the crypto ecosystem were reaping gains. Bitcoin miner Marathon Digital climbed 2%, U.S.-traded shares of Hong Kong-based BIT Mining gained 1.7% and Coinbase inched up 0.5%.
- Southwest Airlines shares are losing altitude premarket, declining 3.3% 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 2.9% 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 5%.
- 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 0.4% premarket.
- Hasbro shares fell 1.1% 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.
Write to James Willhite at james.willhite@wsj.com
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