Stock futures slipped lower Monday while energy commodities extended gains, as investors waited for retail sales, inflation data and an update from the Federal Reserve later this week.
Here are some of the top movers in Monday's market:
1. Southwest Airlines LUV | Down 3.2%
Shares of Southwest Airlines (LUV) - Get Southwest Airlines Co. Report slipped ahead of the bell Monday after reports suggest that the carrier will extend flight cancellations, which grounded nearly a third of its fleet on Sunday, into the start of the week.
Southwest said the cancellations, which comprised around 30% of its Sunday flights, were linked to bad weather in Florida and "air traffic control issues."
2. Occidental Petroleum OXY | Up 3.5%
Shares of Occidental Petroleum (OXY) - Get Occidental Petroleum Corporation Report rose sharply in premarket trading as oil prices extended their rally into a fifth consecutive week Monday, taking crude prices to the highest levels in seven years.
3. Alibaba BABA | Up 3.5%
U.S.-listed shares of Alibaba (BABA) - Get Alibaba Group Holding Ltd. Sponsored ADR Report rose over 5% in Monday's premarket trading as part of a broad rally in shares of China-based technology companies.
Investors bet the worst is over for the tech sector crackdown following the end of a regulatory probe into China's Meituan, the South China Morning Post reported, and a smaller-than-expected antitrust fine for the online food delivery giant.
4. Robinhood HOOD | Down 1.9%
Robinhood (HOOD) - Get Robinhood Report traded lower in premarket trading Monday after a Securities and Exchange Commission filing detailed the risks of increased regulation of cryptocurrency trading as well as possible new rules surrounding payment for order flow.
The Biden administration is considering an executive order for federal agencies, which would require them to study the crypto industry and provide recommendations on their oversight, Bloomberg reported Friday, citing unnamed sources.
5. Flexion Therapeutics FLXN | Up 73%
Shares of Flexion Therapeutics (FLXN) - Get Flexion Therapeutics, Inc. Report soared after Tampa, Fla. based Pacira BioSciences said it is acquiring the biopharma company for $8 a share in cash, plus a non-tradeable contingent value right worth up to $8.50 a share in cash, in a deal aimed at expanding its position in non-opioid pain management.
"We believe the Flexion portfolio further solidifies Pacira as a leader in opioid-sparing pain management as we continue to redefine the role of opioids as a last resort rescue medication," Pacira CEO Dave Stack said in a statement.