Bitcoin, Nike, Meredith, Carnival: What to Watch When the Stock Market Opens Today

Futures are edging down and bond yields are as much as multi-month highs, as uncertainty lingers about heavily indebted property giant  China Evergrande Group . Right here’s what we’re watching forward of Friday’s opening bell.

• The value of bitcoin fell as a lot as 5% after China’s central financial institution mentioned all cryptocurrency-related transactions are illegal, reinforcing the nation’s powerful stance towards digital rivals to authorities issued cash. Crypto trade Coinbase fell 4%.
• Meredith shares soared 25% premarket. IAC/InterActiveCorp. is in superior talks to acquire the magazine publisher, in keeping with folks conversant in the scenario.
• Nike shares dropped 4.7% premarket. The sneaker large reported a 16% rise in quarterly income however mentioned manufacturing issues in Asia and trans-Pacific transport delays are constraining sales.

• Progress Software program jumped 6% premarket after the enterprise software program firm delivered an earnings beat and lifted its full-year outlook.
• Biopharmaceutical firm vTv Therapeutics mentioned it noticed optimistic outcomes from a dose research for the therapy of psoriasis. Its shares jumped 19% premarket.
• Costco inched up 0.5%. The retailer’s sales increased in its newest quarter however inflationary pressures continued to construct.
• Aehr Check Methods , a supplier of semiconductor checks with a market cap of about $287 million, lifted its income outlook for the fiscal 12 months. Its shares shot up 17% premarket.
• Cruise operator  Carnival  is among the many firms reporting earnings Friday.

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• Final 12 months as China Evergrande Group’s inventory and bond costs seesawed, it provided deep reductions to keep sales growing during the pandemic and the federal government successfully mentioned it had borrowed an excessive amount of. But the property developer’s auditor gave it a clear invoice of well being in an annual report issued this spring.

Write to James Willhite at james.willhite@wsj.com