Raven Industries, Torchlight Energy, Bitcoin: What to Watch When the Stock Market Opens Today

• Futures tied to the Dow Jones Industrial Average advanced 0.5% in a choppy trading session early Monday. Contracts linked to the S&P 500 edged up 0.4% Monday, while Nasdaq-100 futures rose 0.5%.
• Asian markets are mostly down, led by the Nikkei’s 3.3% drop, but European shares are gaining. Gold prices are up, while bitcoin is off more than 6%.

What’s Coming Up

• The Chicago Fed National Activity Index for May is due at 8:30 a.m. ET.
• The Roth Virtual London Conference, hosted by Roth Capital Partners, begins Monday. Participants will include

  Plug Power,

  PLUG -2.28%

  eGain

  EGAN 0.73%

  and

  SunRun.

  RUN 1.05%

Market Movers to Watch

• Bitcoin’s losses this morning are dragging down the share prices of some bitcoin miners.

  Marathon Digital Holdings

  MARA -3.79%

  fell 7.6% and

  Riot Blockchain

  RIOT -6.18%

  fell 7.4%.

• Shares of

  Raven Industries

  RAVN -5.34%

  took flight after

  CNH Industrial

  CNHI -3.40%

  said it has entered into an agreement to buy the U.S. manufacturer of agriculture technology for an enterprise value of $2.1 billion. Raven’s stock soared 48% premarket.

• Torchlight Energy Resources

  TRCH 16.11%

  shares are ablaze premarket, again. The Texas-based oil-and-gas company’s stock was up 37% and was trending on Stocktwits.

• Pershing Square Tontine Holdings

  PSTH -0.18%

  gained 2% premarket.

  Vivendi

  VIVHY -0.92%

  on Sunday reached an agreement for a 10% investment in Universal Music Group by William Ackman’s Pershing Square Tontine Holdings, valuing the world’s largest music company at about $40 billion.

Market Facts

• Heavy options activity amplified last week’s investor retreat from bets on stronger economic growth. More than 116 million options contracts were expiring on Friday, according to Cboe Global Markets data, the second-highest level ever after Jan. 15, when more than 150 million contracts were expiring.
• Natural-gas futures ended Friday at $3.215 per million British thermal units, up 96% from a year ago and the highest price headed into summer since 2017.
• On this day in 1990, after decades of closure under communist rule, the Budapest Stock Exchange reopened for trading.

Chart of the Day

• Inflation is on the rise, hitting some of the highest levels seen since the early 1980s. Here’s what investors can learn from the history of inflation.

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