By Danilo
Hey, mooers! Here are things you need to know before the opening bell:
- Stock futures were lower in early morning trading Monday following a losing week as investors continued to grapple with the resurgence of Covid cases and an upcoming shift in the Federal Reserve's easy monetary policy.
- Elon Musk faces a hefty tax bill this year — possibly the biggest in U.S. history.“For those wondering, I will pay over $11 billion in taxes this year,” the Tesla CEO tweeted on Monday.
Market Snapshot
Stock futures were lower in early morning trading Monday following a losing week as investors continued to grapple with the resurgence of Covid cases and an upcoming shift in the Federal Reserve's easy monetary policy.
Futures on the $Dow Jones Industrial Average (.DJI.US)$ dropped 433 points, or 1.29%. $S&P 500 Index (.SPX.US)$ futures dipped 1.38% and $NASDAQ 100 Index (.NDX.US)$ futures declined 1.59%.
Market Temperature
Read more: Market Temperature (12/20)
Top News
Stock futures, oil prices slump on Omicron curbs
U.S. stock futures, oil prices and bond yields fell as investors worried that a rise in Omicron Covid-19 cases would stall economic growth and add pressure to inflation.
Economy week ahead: housing, consumers, inflation
Data due this week will likely show that core inflation rose at the fastest annual pace in almost four decades in November.
Businesses seek to delay tax rise that funds Biden spending plan
Honeywell, GE, Boeing and other large companies are launching a late lobbying blitz to persuade centrist Democratic senators that implementing a global minimum tax too soon would hurt U.S.-based multinationals.
Inflation adds to cost of clean energy transition
Energy companies have to spend more to build solar and wind farms for the first time in years because of cost inflation and supply-chain problems, adding a financial speed bump to the switch from fossil fuels.
Disney and YouTube reach deal, ending blackout
The agreement ends a brief blackout that began at the stroke of midnight Saturday after the carriage contract between the two companies expired. $Disney (DIS.US)$ $Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$
Nike buys into NFTs
$Nike (NKE.US)$ is the latest brand to jump into the emerging world of nonfungible tokens, betting sneaker collectors will want to invest in virtual footwear.
'Spider-Man: No Way Home' swoops in with a pandemic-record opening
The latest Spider-Man movie opened to $253 million at the box office this weekend, defying industry expectations. $AMC Entertainment (AMC.US)$
Read More
Adidas 'Into the Metaverse' NFT drop sells out, nets $23.5 million
Crypto attracts more money in 2021 than all previous years combined
Coach gives a little festive love with first NFT collection
ARKK is tracking the Dot-com bubble's movement
Elon Musk has an Asian twin?
Key Events This Week
Source: CNBC, Dow Jones Newswires, Bloomberg