(Updated with change in futures contracts on indices, bank stocks)
PARIS, June 13 (Reuters) – Top stocks to watch on Monday on Wall Street, where index futures suggest an opening down around 1.7% for the Dow Jones .DJI , 2.1% for the Standard & Poor’s 500 .SPX and 2.7% for the Nasdaq .IXIC:
* Banking and financial services stocks fell ahead of the market after the yield on two-year Treasury bills rose above the ten-year yield, an inversion of the curve considered by some as a signal of a risk of recession. BANK OF AMERICA BAC.N, CITIGROUP CN, JPMORGAN CHASE & CO JPM.N, GOLDMAN SACHS GS.N, WELLS FARGO WFC.N and MORGAN STANLEY MS.N lose between 2.1% and 2.9%, AMERICAN EXPRESS AXP .N , VISA VN and MASTERCARD MA.N between 2.3% and 3.8%, PAYPAL PYPL.O and BLOCK SQ.N 4.8% and 7.1% respectively.
* Several big tech stocks, particularly sensitive to inflation and interest rate concerns, lost more than 3% in forefront trading, including APPLE AAPL.O, ALPHABET
GOOGL.O, MICROSOFT MSFT.O and AMAZON AMZN.O.
* OIL stocks also lost ground in pre-market trading with the drop of more than 1% in crude prices, the rise in the number of COVID-19 cases in Beijing rekindling fears for demand. CHEVRON CVX.N and EXXON MOBIL XOM.N yielded 2.8% and 3.4% respectively, OCCIDENTAL PETROLEUM OXY.N , EOG RESOURCES EOG.N , MARATHON OIL MRO.N , DEVON ENERGY DVN.N , OVINTIV OVV.N and HESS
HES.N between 3.8% and 5.9%, SCHLUMBERGER SLB.N 3.4%.
* TESLA TSLA.O announced on Friday evening that it would submit to its shareholders a plan to divide the nominal value of its shares by three in order to make them more accessible to individual investors. In addition RBC has raised its recommendation on the stock to “outperformance” against “sector performance”, saying it expects a good surprise for the current quarter.
* GOLDMAN SACHS GS.N – The US Securities and Exchange Commission (SEC) has opened an investigation into the bank’s asset management activities targeting investment funds displaying an ESG strategy, The Wall Street Journal reported.
* PFIZER PFE.N – A US Food and Drug Administration (FDA) panel on Sunday said the COVID-19 vaccine developed by Pfizer and BioNTech BNTX.O is effective and safe for children 6 months to four years old .
* REVLON REV.N fell 11% in pre-market trading after already falling 52.8% on Friday in response to reports from the Wall Street Journal that the cosmetics maker, whose debt stood at 3.31 billion dollars at the end of March, should file for US bankruptcy protection this week.
* “CRYPTO” values retreat in forecourt in reaction to the fall in the prices of many cryptoassets, including bitcoin and Ether
. BIT DIGITAL BTBT.O , RIOT BLOCKCHAIN
RIOT.O, MARATHON DIGITAL MARA.O and HUT 8 MINING HUT.O dropped between 7% and 14.9%, BITFARMS BITF.O 14.5%SILVERGATE CAPITAL SI.N 10.8%, MICROSTRATEGY MSTR.O and COINBASE GLOBAL COIN.O 12%.
* LHC GROUP LHCG.O and UNITEDHEALTH UNH.N announced on Friday that they had received from the Federal Trade Commission (FTC), the American antitrust authority, a request for additional information on the proposed acquisition of the health care group by l insurer for $5.4 billion. In pre-market, UnitedHealth fell 2.3%.
* ELECTRIC LAST MILE SOLUTIONS ELMS.O – The electric utility vehicle maker announced on Sunday that it is filing for bankruptcy protection, following a Securities and Exchange Commission (SEC) investigation and withdrawal of all the activity forecasts presented in March.
(Writing by Marc Angrand, editing by Kate Entringer)
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