Wall Street indexes were mixed in morning trading as investors considered a small study suggesting that the Omicron variant may cause milder disease. Here’s what we’re watching in Monday’s trading:
- Cryptocurrencies are stabilizing after a weekend rout dragged bitcoin prices down by more than 20%. Other widely traded cryptocurrencies including Solana, Dogecoin and Shiba Inu coin at one point lost more than one-fifth of their value. Bitcoin on Monday traded at around $48,400, nearly 10% down on its level at 5 p.m. ET Friday, but up from Saturday’s low of $42,000.
Cryptocurrencies including Shiba Inu moved sharply lower over the weekend.
Photo: Jakub Porzycki/Zuma Press
- Crypto stocks were showing strains, including bitcoin wallet provider Coinbase COIN 8.81% and bitcoin miner Marathon Digital. MARA 9.30%
- CF Acquisition CFVI 3.31% shares soared in early trading. The blank-check company sponsored by financial-services firm Cantor Fitzgerald last week agreed to combine with video platform Rumble.
- An activist investor is urging department-store chain Kohl’s KSS 2.56% to consider a sale of the company or a separation of its e-commerce business.
- Adicet Bio ACET 6.78% said it had received positive data from a phase 1 trial of a potential treatment for Non-Hodgkin’s lymphoma.
- Chinese tech giant Alibaba BABA 1.57% said it would reorganize its e-commerce teams and appointed a new chief financial officer, as it faces increasing competition in China, slowing growth and a plummeting stock price.
- Crude prices were gaining, and producers’ stocks were along for the ride, including Occidental Petroleum OXY 4.29% and ConocoPhillips. COP 2.42%
- Coupa Software, COUP -2.93% GitLab GTLB -8.32% and HealthEquity HQY -24.60% will deliver quarterly updates after the close.
Chart of the Day
- Focusing on environmental, social and governance criteria has helped Nasdaq draw new listings of $191 billion so far this year, compared with $109 billion at NYSE.
Write to James Willhite at james.willhite@wsj.com
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