Earnings season is about to kick off this week, beginning with huge banks, and buyers will likely be watching to see if they’ll ship on excessive expectations. Right here’s what we’re watching forward of Monday’s open.

• Futures tied to the S&P 500 have been flat after the broad-market index reached a report excessive on Friday. Futures linked to the Nasdaq-100 ticked up 0.5%, suggesting additional features in know-how shares after the Nasdaq Composite ended final week at a report. Dow Jones Industrial Common futures slipped 0.3%. Learn our full market wrap.

What’s Coming Up

• Earnings are due from

  Simulations Plus

  SLP -0.56%

  after the closing bell.

Market Movers to Watch

• Traders received to observe Richard Branson floating round in zero gravity with the curve of the earth as a backdrop over the weekend, and seem to love what they noticed.

  Virgin Galactic

  SPCE -17.16%

  shares are up 2% premarket after the billionaire entrepreneur bested rivals

  Jeff Bezos

  and

  Elon Musk

  within the race of the company leaders to the sky—or did he? Mr. Bezos’s deliberate flight along with his personal Blue Origin is anticipated to take him above the Karman Line, a barrier that many take into account the boundary of house, whereas Mr. Branson solely crossed the decrease barrier outlined by the FAA. And Blue Origin final week dismissed the Virgin automobile as a “excessive altitude airplane.”

• However then, Mr. Musk additionally has extra earthly issues to take care of. The

  Tesla

  TSLA 4.34%

  chief is anticipated to take the stand in a trial as early as Monday to defend the propriety of the roughly $2.1 billion tie-up of Tesla and SolarCity. Traders don’t appear fazed: The electrical-car maker’s shares added 1% premarket.

• Chinese language ride-hailing big

  Didi International

  DIDI -6.07%

  ‘s shares slipped 2.7% premarket, extending their post-IPO doldrums that started after the corporate was focused by Chinese language regulators. It stated on Monday that a few of its apps in China, reminiscent of these utilized by drivers, will likely be taken down, which can adversely affect its income.

• Shares of blank-check firm

  Lionheart Acquisition

  LCAP 1.67%

  have been up 0.6% in premarket buying and selling. MSP Restoration is about to go public after the corporate, which makes a speciality of Medicare Secondary Payer restoration rights, introduced an settlement Monday to be acquired by the SPAC in a deal that may worth the mixed agency at about $32.6 billion.

• Shares of

  ToughBuilt Industries

  TBLT -32.36%

  aren’t wanting so powerful this morning. The corporate with a market cap of simply round $86 million is down 29% premarket, chopping into Friday’s 46% leap. Right this moment’s transfer comes after the corporate introduced an providing of $40 million of shares.

• Vaccinations proceed apace and lots of main economies are taking steps towards normalcy, however buyers are nonetheless signalling anxiousness because the extremely contagious Delta number of Covid-19 continues to unfold. Pandemic-sensitive shares like cruise operators, airways and oil firms have been all ticking decrease premarket.

  United Airways

  UAL -0.65%

  slipped 1.4%,

  Delta Air Traces

  DAL 0.17%

  shed 0.8%,

  Carnival

  CCL -1.36%

  fell 1.4%,

  Occidental Petroleum

  OXY -0.24%

  dropped 1.5% and

  ConocoPhillips

  COP -0.30%

  fell 1%.

Market Details

• In the course of the first week of the third quarter, $18.3 billion flowed into bond funds tracked by EPFR, a 22-week excessive.
• Shares of huge banks are buying and selling at about 50% of the ahead price-to-earnings a number of of the S&P 500, in contrast with a historic median of 75%, in line with analysts at Autonomous Analysis.
• On this present day in 1773, Jonathan’s Espresso Home, the place brokers had met for many years to smoke, drink and commerce shares and bonds, was renamed the London Inventory Change.

Chart of the Day

• JPMorgan,

  JPM 1.55%

  Goldman Sachs

  GS 2.45%

  and different huge banks are anticipated to report massive second-quarter features this week, although buying and selling companies that thrived throughout the pandemic are slowing down and mortgage demand has been tepid.

Should Reads Since You Went to Mattress

Copyright ©2020 Dow Jones & Firm, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8