Gores Guggenheim, Kraton, Exxon, Carnival, PG&E: What you should consider when the stock market opens today

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WSJ.com: Markets

US stock futures shook as investors digested easing fears of contagion from China Evergrande Group and hopes for another economic reopening against supply chain disruptions. Here’s what we’re watching as Monday’s trading kick off.

  • Chemical company Kraton rose 7.8% before the bell after announcing it would acquire it from DL Chemical for $ 46.50. The stock closed at $ 41.52 on Friday.
  • The blank check company Gores Guggenheim climbed 2.1% pre-trading. It is on the verge of a deal with Polestar that would value the Swedish electric vehicle maker at $ 21 billion.
  • Crude oil prices are at their highest level in nearly three years, and the shares of large producers are also rising ahead of the market. Occidental Petroleum was up 3.4%, Exxon Mobil 2.2% and ConocoPhillips 2.7%.
  • Shares in cruise company Carnival rose 2% ahead of its IPO after setting sail from the port of Los Angeles for the first time since last year. On Friday, the company reported that its travels had positive cash flow in the third quarter. Rival Royal Caribbean gained 0.7%.
  • Major airlines also received a boost before the bell in hopes of further economic reopening after the pandemic. United Airlines was up 0.7%, Delta Air Lines was up 0.8%, American Airlines was up 1.3% and Southwest Airlines was up 1.1%.
  • But not everyone looks forward to people getting back to their normal routines. Zoom Video Communications lost 1.3% prior to launch.
  • The PG&E share lost 0.6% before the market. A California prosecutor has filed a series of criminal charges against utility companies in connection with the Zogg Fire that killed four people.
  • Rolls-Royce shares rose 8.9% in London. The luxury car and jet engine maker has been selected by the US Department of Defense for the B-52 engine replacement program. US listed stocks rose 7.1% ahead of the market.
  • Aurora Cannabis and Concentrix are among the companies to report their profits on Monday.
Chart of the day
  • Day traders target some companies that recently completed SPAC mergers and are livening up some of the excitement around meme stocks that helped popularize such deals earlier in the year.

Write to James Willhite at james.willhite@wsj.com

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