Bitcoin, Vaxart, Devon Energy, Tesla: what to watch for when the stock market opens today

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Updated October 8, 2021 at 7:29 a.m. ET

Stock futures wavered and the 10-year Treasury yield surpassed 1.6% for the first time since June, ahead of employment data which is expected to show a drop in the unemployment rate. Here’s what was looking before the Friday opened.

Bitcoin was up 2.4% from its price at 5 p.m. ET on Thursday, and shares in the crypto world were also up. The SEC has approved the Volt Equity ETF, which aims to track companies that hold the majority of their assets in bitcoin or derive most of their income from bitcoin-related activities. Coinbase COIN 0.48% was up 1.1% pre-market, and bitcoin miner Marathon Digital MARA -1.39% gained 2.2%. Vaxart VXRT -0.14% shares jumped 9.7% pre-market after the company said its oral Covid-19 vaccine candidate was shown to be able to reduce airborne transmission of the virus in a animal model. The other vaccine makers Moderna MRNA 2.29% and Novavax, NVAX 2.34% which recently suffered price drops, were also up pre-market, up 0.9% and 1.6% respectively. Crude prices are climbing and the stocks of energy producers follow them higher. Occidental Petroleum OXY grew 1.50% pre-market 1.3%, Devon Energy DVN -0.72% gained 1.8% and oil services company Halliburton HAL increased 1.70% , 1%. A pump jack operated at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma on September 15, 2015. Photo: Nick Oxford / Reuters Tesla TSLA 1.39% shares rose 0.2% after the electric car maker said it was moving its headquarters to Austin, Texas, joining a handful of Silicon Valley companies that have moved there. Chubb CB shares traded in the US at 0.91% added 0.8% pre-market. The Swiss-based insurer has agreed to buy part of Cigna CI’s operations in Asia-Pacific at 0.72% as part of its development strategy in the region. Accolade ACCD shares -0.42% fell 7.3% pre-market after the employee health insurance company reported a loss for the recent quarter. Chart of the Day China Evergrande Group EGRNF 5.53% s Path to the brink of default was littered with financial red flags. The real estate giant was heavily in debt, grew at a breakneck pace, and made it difficult for outsiders to understand the company’s financial situation.

Write to James Willhite at [email protected]

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