Good morning moomooers! Here are things you need to know before the opening bell:

• Wall Street looked to bounce back from a losing week; 10-year Treasury yield fell 5 basis points to 1.68%

• Stocks making the biggest moves premarket: AstraZeneca, Kansas City Southern, Tesla and others

Market Snapshot

U.S. stock futures were mixed early Monday morning as Wall Street looked to bounce back from a losing week.

Futures on the tech-heavy Nasdaq-100 gained 0.8% as the 10-year yield retreated. S&P 500 futures were about flat. Futures contracts tied to the Dow Jones Industrial Average declined 65 points.

The 10-year Treasury yield fell 5 basis points to 1.68%, after touching a 14-month high last week (1 basis point equals 0.01%). The move higher in rates has raised concerns about valuations on growth and tech stocks.

Premovers

Stocks making the biggest moves premarket: AstraZeneca, Kansas City Southern, Tesla, and others

$AstraZeneca PLC(AZN.US)$ – The drugmaker said a U.S. study showed its Covid vaccine had 79% efficacy in preventing symptomatic illness, 100% effectiveness against critical disease and hospitalization, and did not pose a higher risk of blood clots. AstraZeneca shares gained 2.2% in premarket trading.

$Kansas City Southern(KSU.US)$ – The railroad operator agreed to be bought by Canadian Pacific Railway(CP) in a $25 billion cash-and-stock deal. The transaction is worth $275 per share, compared to Kansas City Southern’s Friday closing price of $224.16. Kansas City Southern surged 17.8% in premarket action, while Canadian Pacific slid 2.8%.

$Tesla, Inc.(TSLA.US)$ – Tesla shares will hit $3,000 in 2025, according to a projection by ARK Invest founder Cathie Wood. If that prediction pans out, Tesla would be worth roughly $3.6 trillion. The stock jumped 3.6% in premarket trading.

Top News

U.S. stock futures point to gains for tech

Futures tied to the Nasdaq-100 rise, signaling that the tech sector may climb even as S&P 500 and Dow futures point to muted declines.

Bond rout hits the safest corporate debt

Returns on investment-grade corporate bonds from companies including Amazon are having their second-worst start on record.

Newly reported U.S. cases fall below 40,000

Newly reported Covid cases in the U.S. fell below 40,000 for the first time in a week, as vaccine production gains momentum.

Economy week ahead: Home sales, durables, consumer spending

U.S. personal income and consumer spending might have declined in February, payback from a stimulus-driven surge a month earlier alongside winter storms in parts of the country.

Saudi Aramco to retain $75 Billion dividend despite earnings slump

State-oil giant Saudi Aramco said it would keep its $75 billion dividend pledge despite a 44% drop in its 2020 profit, as the coronavirus pandemic and a price war roiled global oil markets.