Wall Street indexes wavered after the opening bell, while energy commodities are extending gains. Here’s what we’re watching ahead of Monday’s market open.
- Energy producers were getting a boost from the run up in prices for crude. Occidental Petroleum OXY 1.90% rose 1.9% in opening trading, Devon Energy DVN -0.49% gained 0.8%, Hess HES 1.95% climbed 2% and Phillips 66 PSX 1.57% added 1.3%.
- Bitcoin prices are also gaining, and stocks in the crypto ecosystem were reaping gains. Bitcoin miner Marathon Digital MARA 6.90% climbed 6.6% and Coinbase COIN 2.46% inched up 1.6%.
- Southwest Airlines LUV -2.67% shares are losing altitude, declining 2.6%. The carrier canceled more than 1,800 flights over the weekend, citing bad weather and air-traffic-control problems in Florida that rippled throughout its operation.
Southwest Airlines endured a wave of flight cancellations over the weekend.
Photo: jim lo scalzo/Shutterstock
- Emerson Electric EMR -1.96% slipped 2.2%. It plans to merge two of its software businesses with Aspen Technology AZPN 7.38% in a roughly $11 billion deal aimed at capturing growing demand for industrial technology. Aspen’s stock added 7.8%.
- Apple AAPL 0.84% is seeking a stay on a federal judge’s order that it allow app developers to link to other payment methods while its appeal works its way through the system. The iPhone maker’s shares nudged up 0.3% premarket.
- Hasbro HAS -0.70% shares fell 1.8%. The global toy, game and entertainment company said Chief Executive Brian Goldner will take a leave of absence for medical care.
Chart of the Day
- The extended climb in oil prices is leaving some other industrial commodities behind, a divergence that reflects bets that energy supply shortages will offset any slowdown in the global economy.
Write to James Willhite at [email protected]
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