As investors are being careful before the Federal Reserve statement later this week, stocks look like they will fall early on Monday. Here are some stocks to watch on Monday amid the cautious trading:
Stocks to watch
- According to reports, Ford (NYSE:F) is purging the fat from its corporate ranks by giving severance benefits to salaried workers who aren’t performing up to par. The Wall Street Journal reports that the automaker is specifically looking for experienced executives who have “a trend of decreasing performance.”
- Emerson Electric (NYSE:EMR) has agreed to sell private equity company Blackstone a 55% stake in its climate technologies business (BX). EMR will get pre-tax cash sales of around $9.5 billion, valuing the company at $14 billion when debt is included.
- Reports say that Nordic Capital and Thermo Fisher (TMO) are close to a deal to sell the diagnostic device maker Binding Site. Binding Site is based in the UK. According to Bloomberg, the purchase price for the deal is £2 billion ($2.3 billion).
- Concerns over tighter COVID limitations in cities like Beijing caused China-based companies to decline in premarket trading. EV names like XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI), which fell by around 5% and 4%, respectively, were hit by the fall. Baidu (NASDAQ:BIDU), JD.com (NASDAQ:JD), and Alibaba (NYSE:BABA) all displayed weaknesses.
See what the Goldman Sachs trading desk predicts will be the primary issue driving trade this week for more information on the stock market’s near-term direction.
Featured Image – Megapixl © Arturszczybylo