5 Things to Know Before the Stock Market Opens

Stock futures are slightly lower after major market indexes hit record highs last week; bitcoin (BTCUSD) and other cryptocurrencies are losing ground, taking crypto-related stocks lower as well; President Trump said Rupert and Lachlan Murdoch could be part of a TikTok deal; shares of weight-loss drug developer Metsera (MTSR) are soaring after Prizer (PFE) announced a takeover bid; and Kenvue (KVUE) shares are down on a report that the Trump administration will tie Tylenol use to autism. Here’s what investors need to know today.

Stock futures are slightly lower in premarket trading as investors prepare for key inflation data later this week following last week’s interest-rate cut by the Federal Reserve. Concerns about a possible government shutdown were weighing on sentiment to start the week. Futures tied to the benchmark S&P 500, the tech-heavy Nasdaq and the Dow Jones Industrial Average were down 0.3% in recent trading, after each of the indexes closed last week at record highs. The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loan, ticked lower to 4.13%. Gold futures were up 1.4% to a fresh record high of $3,760 an ounce as some investors turned to the traditional safe-haven.

Bitcoin (BTCUSD) was trading at below $113,000 this morning, down from an overnight high of above $115,000, while Ether, Solana and other cryptocurrencies are also down sharply this morning. Stocks tied to cryptocurrencies are also under pressure, with major bitcoin buyer Strategy (MSTR), crypto exchange Coinbase (COIN) and bitcoin miner Riot Platforms (RIOT) each down more than 2%.

A deal to preserve the operations of social media app TikTok in the U.S. could include the participation of media owners Rupert Murdoch and his son Lachlan Murdoch, President Donald Trump told Fox News this weekend. The Trump administration has been negotiating with Chinese leaders to find new ownership for TikTok ahead of a ban on the social media app. Lachlan Murdoch recently gained control of his father’s media empire, which includes News Corp (NWSA) and Fox (FOXA). Fox shares were nearly 5% higher in recent premarket trading, while News Corp shares advanced more than 2%.

Kenvue (KVUE) shares are sliding this morning following a report that the Trump administration plans to link the active ingredient in Tylenol to autism. The Washington Post reported that officials would warn pregnant mothers against taking pain-killer acetaminophen unless they had a fever. Kenvue said that scientific studies showed that there was no link between acetaminophen and autism. Kevnue shares declined earlier this morning on early reports of the administration’s efforts to tie the drug to autism. Kenvue shares were down nearly 5% ahead of the opening bell Monday.

Weight-loss drug developer Metsera (MTSR) soard 60% in premarket trading after Prizer (PFE) announced it would acquire the company. Pfizer said it will acquire New York City-based Metsera for $47.50 per share in cash, with an additional $22.50 per share tied to certain performance milestones. The Financial Times reported that the deal would be worth $7.3 billion. Metsera went public in late January, with its stock rising 25% since then as of Friday’s close. Pfizer shares were up about 1.5% in premarket trading Monday.

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