U.S. stock futures paused at record high levels on Monday, as the chief executive of the S&P 500’s fifth-largest company indicated he would sell a tenth of the company.
What’s happening
-
Futures on the Dow Jones Industrial Average
YM00,
+0.22%
rose 46 points, or 0.1%, 36261
-
Futures on the S&P 500
ES00,
+0.07%
were steady at 4690
-
Futures on the Nasdaq 100
NQ00,
-0.02%
edged 0.1%, or 15 points, lower 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 at record highs. The S&P 500 has climbed for six of the last seven weeks and 16 of the last 18 trading sessions.
What’s driving markets
Elon Musk’s Twitter poll that he should sell a 10% stake in Tesla
TSLA,
-0.64%
sent the electric vehicle automaker’s stock down 5% in early premarket action.
Musk, in a tweet, said he was prepared to accept either outcome. Musk has repeatedly questioned the value of Tesla, and his brother Kimbal sold 88,500 shares on Friday, according to a Securities and Exchange Commission filing.
Besides Musk, traders will look at the decision by the House of Representatives to approve an infrastructure package, though a larger spending bill still remains in doubt.
Japanese investment group SoftBank
9984,
-0.77%
reported a record loss due to its Chinese holdings as it disclosed it no longer had positions in companies including Amazon
AMZN,
+1.21%,
Taiwan Semiconductor
TSM,
+0.01%
and PayPal
PYPL,
-1.07%.
PayPal is set to report its third-quarter results after the close of trade.
