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5 Things to Know Before the Stock Market Opens Monday

NYSE

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow set to drop after Friday record high

Dow futures fell about 300 points Monday after the 30-stock average, S&P 500 and Nasdaq closed at record highs Friday as Wall Street bet on new fiscal stimulus with Democrats in control of the Senate, House and soon the White House. The 10-year Treasury yield dropped slightly but remained above 1.1% early Monday. Bitcoin, which soared above $41,000 on Friday, plunged 15% since then, including about a 6% decline early Monday.

2. House to move to remove Trump

U.S. House Speaker Nancy Pelosi (D-CA) speaks to reporters a day after supporters of U.S. President Donald Trump occupied the Capitol, during a news conference in Washington, January 7, 2021.
Erin Scott | Reuters
U.S. House Speaker Nancy Pelosi (D-CA) speaks to reporters a day after supporters of U.S. President Donald Trump occupied the Capitol, during a news conference in Washington, January 7, 2021.

House Democratic leadership will seek a vote on a resolution calling on Vice President Mike Pence and Cabinet officials to invoke the 25th Amendment and remove President Donald Trump from office, with a full House vote expected Tuesday. After that, Pence and the Cabinet would have 24 hours to act before the House would move toward impeachment. Two Republicans senators — Pat Toomey from Pennsylvania and Lisa Murkowski from Alaska — said Trump needs to go as soon as possible.

3. JPMorgan, Citigroup to halt political donations

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., second left, listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 10, 2019.
Andrew Harrer | Bloomberg | Getty Images
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., second left, listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 10, 2019.

JPMorgan Chase and Citigroup are among the first major financial firms to pledge to pause political action committee donations after followers of Trump stormed the U.S. Capitol last week. Spurred on by Wednesday's riot, which resulted in five deaths, other companies including Marriott and the Blue Cross Blue Shield said they would stop giving money to Republican lawmakers who backed efforts to disrupt the confirmation of President-elect Joe Biden's victory.

4. Twitter stock drops after ban on Trump tweets

A person tabs on the suspended account of Donald Trump, President of the United States of America, on Twitter on January 09, 2021.
Florian Gaertner | Photothek | Getty Images
A person tabs on the suspended account of Donald Trump, President of the United States of America, on Twitter on January 09, 2021.

Twitter shares dropped more than 6% in premarket trading after the social network issued a permanent suspension of Trump's @realDonaldTrump account. Twitter said Friday it took the action due to the risk of further incitement of violence after Wednesday's Capitol siege. Also last week, Facebook and its Instagram unit blocked the outgoing president's accounts indefinitely.

A general view of the the Parler app icon displayed on an iPhone on January 9, 2021 in London, England.
Hollie Adams | Getty Images News | Getty Images
A general view of the the Parler app icon displayed on an iPhone on January 9, 2021 in London, England.

Apple and Alphabet's Google removed Parler from their app stores, and Amazon Web Services stopped hosting the social media operation favored by right-wing extremists after some rioters used the service to promote the Capitol attack. "We will likely be down longer than expected," Parler CEO John Matze said in a statement. "Most people with enough servers to host us have shut their doors to us."

5. Trial of Lilly Alzheimer's drug promising; Gilead boosts full-year guidance

The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.
Mike Blake | Reuters
The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

Shares of Eli Lilly soared 13% in premarket trading after the U.S. pharmaceutical giant said Monday a trial of its experimental Alzheimer's drug, donanemab, showed it slowed by about a third the rate of decline in a combined measure of cognition and function in early-stage victims of the disease.

A lab technician inspects filled vials of investigational coronavirus disease (COVID-19) treatment drug remdesivir at a Gilead Sciences facility in La Verne, California.
Gilead Sciences Inc | Reuters
A lab technician inspects filled vials of investigational coronavirus disease (COVID-19) treatment drug remdesivir at a Gilead Sciences facility in La Verne, California.

Gilead Sciences shares rose more than 1% in the premarket after the company raised its full-year profit forecast as a recent resurgence in coronavirus cases boosted demand for its Covid-19 treatment, remdesivir. The antiviral medication, currently authorized to treat Covid patients across the world, was one of the drugs used to treat Trump's coronavirus infection back in the fall.

— The Associated Press, Reuters and CNBC's Peter Schacknow contributed to this report. Follow all the developments on Wall Street in real time with CNBC Pro's live markets blog. Get the latest on the pandemic with our coronavirus blog.

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