Wall Street indexes opened lower after China’s third-quarter economic growth came in below economists’ forecasts. Here’s what we’re watching in Monday’s trading.
- Zillow Group ZG -8.48% shares slipped after the online real-estate company told Bloomberg that it won’t purchase homes for the rest of the year, saying that it was “beyond operational capacity.”
Zillow’s shares were sinking premarket on Monday.
Photo: Tiffany Hagler-Geard/Bloomberg News
- Boston-based investment-management company State Street STT 4.02% posted greater revenue and earnings year over year in the latest quarter as fee-based and interest income both grew.
- Albertsons ACI 2.70% raised its outlook for the full year on what it sees as a favorable consumer backdrop.
- Intercontinental Exchange ICE 0.46% shares ticked up after Silver Lake said it was acquiring ICE’s 9.85% stake in Euroclear Holding.
- Crude prices were climbing early Monday, boosting the share prices of producers Occidental Petroleum OXY 4.99% and Diamondback Energy. FANG 2.69%
- U.S.-traded shares of French biotech Valneva VLA 32.75% soared after it said its coronavirus vaccine candidate outperformed AstraZeneca AZN -1.28% ‘s in a Phase 3 study, which met both its co-primary endpoints.
- Vaccine maker Moderna MRNA 3.79% slipped in early trading. Last week the FDA delayed a decision on making its Covid-19 shot available for adolescents, to assess whether it may lead to heightened risk of a rare inflammatory heart condition.
- Oyster Point Pharma OYST 3.02% said the FDA approved its Tyrvaya nasal spray for the treatment of the signs and symptoms of dry eye disease.
- Cloud-based AI lending platform Upstart Holdings UPST -3.68% shares were downgraded to underperform from neutral by BofA Securities.
- Steel Dynamics STLD -0.63% will report earnings after the close.
Chart of the Day
- Hong Kong started trading in futures tied to an index of stocks from mainland China, giving global investors a new tool for betting on Chinese markets.
Write to James Willhite at james.willhite@wsj.com
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