By Barbara Kollmeyer
Panera Bread is headed back to the stock market, helped by a SPAC from Shake Shack founder Danny Meyer.
Palantir /zigman2/quotes/221054928/composite PLTR -4.98% and Cardinal Health /zigman2/quotes/206646342/composite CAH -1.27% are up after, Blue Apron /zigman2/quotes/203710464/composite APRN -1.48% is tumbling on an earnings miss , with SeaWorld /zigman2/quotes/210357674/composite SEAS +1.15% also down on a disappointing results . Results from Coinbase /zigman2/quotes/225893452/composite COIN +3.20% , Krispy Kreme /zigman2/quotes/227704127/composite DNUT -0.26% and Toast /zigman2/quotes/229432452/composite TOST -2.02% — its first since the initial public offering — are due after the close.
PayPal /zigman2/quotes/208054269/composite PYPL -1.51% announced an Amazon.com /zigman2/quotes/210331248/composite AMZN -4.25% partnership, but shares are down on a disappointing holiday-quarter outlook . In the gaming space, Roblox /zigman2/quotes/223883423/composite RBLX -6.51% is soaring and Zynga is also up after bullish forecasts.
Robinhood /zigman2/quotes/228268942/composite HOOD +3.07% shares are down, after the company said customer data for its mobile trading app was breached last week .
Lingerie and swimwear company Naked Brand is surging on news of a merger with electric-vehicle company Cenntro Automotive.
Retailer Macy’s /zigman2/quotes/201854387/composite M +1.95% is now offering workers $15-an-hour wages and debt-free schooling.
The latest survey of small-business owners shows them turning even more pessimistic due to labor and supply shortages. Producer prices rose 0.6% for October, in line with forecasts.
The markets
Futures /zigman2/quotes/210407078/delayed YM00 -0.09% /zigman2/quotes/209948968/delayed ES00 +0.07% /zigman2/quotes/210219788/delayed NQ00 +0.25% are mixed, with the longest winning streak for the S&P 500 and Nasdaq on the line. The 10-year Treasury yield /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -0.31% is dropping after the biggest jump in three weeks . Elsewhere, bitcoin /zigman2/quotes/31322028/realtime BTCUSD +0.55% is hovering just under a record $68,000, in a continuing crypto rally some see fueled by low supplies.
Sign up for MarketWatch’s new weekly crypto newsletter here.
Goldman Sachs is also liking the chances of a stock ‘melt-up.’ In a note to clients, a team led by portfolio strategist Christian Mueller-Glissmann sees positive macro surprises and anchored real yields driving up that possibility.
“With the current pricing and the S&P 500 already at our 4700 YE target, we like getting equity exposure via short-dated calls to hedge the risk of a continued equity melt-up,” he said. Remember, a call option gives the holder the right to buy an asset.
Here is one of his charts showing that probability viewed by options markets as less likely:
Random reads
Redditors swap their toe-curling, worst-ever manager stories.
Want a healthy heart? Be in bed by 10 p.m .
“Squid Game” actors strut Hollywood’s red carpet, adorably.
Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.
Want more for the day ahead? Sign up for The Barron’s Daily, a morning briefing for investors, including exclusive commentary from Barron’s and MarketWatch writers.
Add to watchlist
PLTR
Add to watchlist
CAH
Add to watchlist
APRN
Add to watchlist
SEAS
Add to watchlist
COIN
Add to watchlist
DNUT
Add to watchlist
TOST
Add to watchlist
PYPL
Add to watchlist
AMZN
Add to watchlist
RBLX
Add to watchlist
HOOD
Add to watchlist
BX:TMUBMUSD10Y
