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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,
+0.19%
rose 46 points, or 0.1%, 36261 -
Futures on the S&P 500
ES00,
+0.05%
were steady at 4690 -
Futures on the Nasdaq 100
NQ00,
-0.03%
edged 0.1%, or 15 points, lower to 16337
Last week, the Dow
DJIA,
the S&P 500
SPX,
and the Nasdaq Composite
COMP,
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,
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,
reported a record loss due to its Chinese holdings as it disclosed it no longer had positions in companies including Amazon
AMZN,
Taiwan Semiconductor
TSM,
and PayPal
PYPL,
PayPal is set to report its third-quarter results after the close of trade.
