U.S. stock futures are edging lower in pre-market trading after tech stocks helped fuel a Christmas Eve rally. Stock futures are down about 0.3% after the Nasdaq gained more than 1% on Tuesday, recovering losses from the prior week. Treasury yields are edging higher, with the 10-year Treasury note yield at 4.629%.
Bitcoin is lower by more than 3% at around $95,601, while oil futures are slightly higher at $70.37 per barrel. Taiwan has blocked Uber’s planned $950 million takeover of Foodpanda delivery operations on the island. Regulators stated that the merger could lead to increased prices for customers and limit market competition.
Uber had announced the deal to acquire Foodpanda’s Taiwan operations from Germany-based Delivery Hero in May. American Airlines’ shares are slightly lower in pre-market trading after the carrier briefly grounded flights on Christmas Eve.
Tech-fueled rally falters
The Federal Aviation Administration (FAA) grounded American Airlines flights at the carrier’s request early Tuesday but lifted the order by around 8 a.m. ET. Christmas Eve is one of the busiest travel days in the U.S.
MicroStrategy shares are down close to 3% in pre-market trading after the company’s stock surged on news of plans to issue more shares. This could potentially allow the company to add more bitcoin to its portfolio.
MicroStrategy shares gained 7.8% in the prior session after filing to increase the number of authorized shares. Following its broadcast of Christmas Day NFL games, Netflix announced it would release Beyoncé’s halftime performance as a stand-alone show later this week. The event comes after Netflix’s broadcast of the November “Beyoncé Bowl” suffered technical issues.
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