U.S. futures were lower following sales of large blocks of stock that news reports said were carried by Archegos Capital Management, run by financier Bill Hwang.Wall Street's advance Friday was led by stocks that would benefit if vaccinations and government spending boost the U.S. economy as much as expected.
On Wall Street, the future for the benchmark S&P 500 index was down 0.9% and that for the Dow Jones Industrial Averages lost 0.5%..The Nikkei 225 in Tokyo advanced 0.7% to 29,384.52. Brokerage Nomura Holdings fell 16.3% after it warned of a "significant loss" due to a transaction Friday involving an unnamed "U.S. client."
Shares of media giants ViacomCBS Inc. and Discovery Inc., Chinese search engine operator Baidu Inc. and Tencent Music Entertainment Group fell.
Last week the President of the United States was talking about how the coming decade will be defined by a global competition in sciences. “The Fourth Industrial Revolution” as he called it. Biotech/healthcare will lead the wave. TFSA RRSP $VBIV $SGEN $GMDA