By Danilo
Hey, mooers! Here are things you need to know before the opening bell:
- Stock futures pointed to losses for the market to start October after the S&P 500 notched its worst month since March 2020.
- The pharmaceutical giant enhances its rare-disease business with a bet on treatments for respiratory and blood diseases.
Market Snapshot
Stock futures pointed to losses for the market to start October after the $S&P 500 Index(.SPX.US)$notched its worst month since March 2020.
Futures on the $Dow Jones Industrial Average(.DJI.US)$dropped 225 points, or 0.7% on Friday. $S&P 500 Index(.SPX.US)$futures lost 0.6% and $NASDAQ 100 Index(.NDX.US)$futures shed 0.5%. Earlier in the overnight session, Dow futures had plunged around 300 points.
Top News
Congress set to avert government shutdown
Democrats and Republicans reach deal to vote on short-term spending bill on Thursday.
Car companies brace for extended chip shortage
Once viewed as a short-term crisis for the auto industry, the global computer-chip shortage could take years to fully overcome amid fresh bottlenecks in Asia and the challenge of boosting output of the sector's more-basic chips.
Cost pressures aren't yet crimping corporate profits
Third-quarter earnings reports are expected to be buoyant, but the good times are probably ending soon for companies that were able to pass along higher costs to consumers.
Stock market's September slump exposes messy underside
It is hardly the sanguine end to the quarter that investors had hoped for. Many money managers say they are heading into the final few months of the year feeling on edge.
Merck to buy Acceleron Pharma for $11.5 billion
$Merck & Co(MRK.US)$ $Acceleron Pharma Inc(XLRN.US)$The pharmaceutical giant enhances its rare-disease business with a bet on treatments for respiratory and blood diseases.
Bed Bath & Beyond shares drop after sales fall
$Bed Bath & Beyond Inc(BBBY.US)$The retailer lowered its sales and adjusted profit expectations for the year as it anticipates greater supply-chain challenges. The company's shares dropped nearly 29% in early trading.
FAA ends probe of Virgin Galactic flight
The aviation regulator said the company didn't properly communicate during a July mission that carried founder Richard Branson to space. $Virgin Galactic(SPCE.US)$
Read More
Foxconn strikes deal to acquire former Lordstown Ohio plant
Nio deliveries jump 125% in September as it debuts in Norway, rival Xpeng registers 199% growth
Biden signs bill into law to prevent government shutdown as debt-limit fight continues
Opinion: 3 preferred stock ETFs to buy for October
Key Events This Week
Source: CNBC, Dow Jones Newswires, Bloomberg