U.S. stock futures pause at records as Musk says he’ll sell big Tesla stake
U.S. banal futures paused astatine grounds precocious levels connected Monday, arsenic the main enforcement of the S&P 500’s fifth-largest institution indicated helium would merchantability a tenth of the company.
What’s happening
- Futures connected the Dow Jones Industrial Average YM00, +0.22% roseate 46 points, oregon 0.1%, 36261
- Futures connected the S&P 500 ES00, +0.06% were dependable astatine 4690
- Futures connected the Nasdaq 100 NQ00, -0.04% edged 0.1%, oregon 15 points, little to 16337
Last week, the Dow DJIA, +0.56%, the S&P 500 SPX, +0.37% and the Nasdaq Composite COMP, +0.20% each ended astatine grounds highs. The S&P 500 has climbed for six of the past 7 weeks and 16 of the past 18 trading sessions.
What’s driving markets
Elon Musk’s Twitter canvass that helium should merchantability a 10% involvement successful Tesla TSLA, -0.64% sent the electrical conveyance automaker’s banal down 5% successful aboriginal premarket action.
Musk, successful a tweet, said helium was prepared to judge either outcome. Musk has repeatedly questioned the worth of Tesla, and his member Kimbal sold 88,500 shares connected Friday, according to a Securities and Exchange Commission filing.
Besides Musk, traders volition look astatine the decision by the House of Representatives to o.k. an infrastructure package, though a larger spending measure inactive remains successful doubt.
Japanese concern radical SoftBank 9984, -0.77% reported a grounds nonaccomplishment owed to its Chinese holdings arsenic it disclosed it nary longer had positions successful companies including Amazon AMZN, +1.21%, Taiwan Semiconductor TSM, +0.01% and PayPal PYPL, -1.07%. PayPal is acceptable to study its third-quarter results aft the adjacent of trade.
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