U.S. stock futures are lower in pre-market trading for Monday, March 19.The Nasdaq Futures are trading at 6,956.00 with a loss of -1.25% percent or -88.00 point.The S&P 500 Futures are trading at 2,741.00 with a loss of -0.54% percent or -15.00 point.The Dow Futures are trading at 24,820.00 with a loss of -0.58% percent or -145.00 point.
In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 are trading at 21,480.90 with a loss of -0.90% percent or -195.61 point. Hong Kong’s Hang Seng are trading at 31,532.19 for up with +0.10% percent or +30.22 point. China’s Shanghai Composite are trading at 3,279.25 for up with +0.29% percent or +9.37 point. India’s BSE Sensex are trading at 32,989.00 with a loss of -0.56% percent or – 187.00 point at 12:15 PM.The FTSE 100 are trading at 7,093.83 with a loss of -0.98% percent or -70.31 point. Germany’s DAX are trading at 12,267.97 with a loss of -0.98% percent or -121.61 point. France’s CAC 40 are trading at 5,239.73 with a loss of -0.81% percent or -43.01point. The Stoxx Europe 600 are trading at 374.99 with a loss of -0.72% percent or -2.75 point.
Monday’s Factors and Events
With the expectation of a surge in demand and sales — adult-use weed could lead to $5 billion or more in added annual sales in Canada — Canada’s largest growers have been busy ramping up their production capacity. Perhaps none brings more to the table than Canopy Growth Corp.(NASDAQOTH: TWMJF) , the largest marijuana company in the world, by market cap.
According to Canopy’s recently released third-quarter operating results, it has seven licensed facilities across 665,000 square feet of growing capacity, and it’s constructing or developing greenhouses on another 3.7 million square feet in British Columbia. Though the company has been tight-lipped about its production potential or greenhouse completion dates, if we were to conservatively estimate 100,000 kilograms of production per 1 million square feet, Canopy Growth could potentially deliver up to 400,000 kilograms annually within a few years. By the turn of the decade, at least 300,000 kilograms in annual production looks like a near-certainty, making it the clear leader in market share.
U.S. market were higher on Friday. For the day the Dow Jones Industrial Average closed at 24,946.51 for up with +0.29% percent or +72.85 point. The S&P 500 closed at 2,752.01 for up with +0.17% percent or +4.68 point. The Nasdaq Composite closed at 7,481.99 with 0.00% percent or +0.25 point.
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,586.05 for up with +0.60% percent or +9.43 point; the S&P 600 Small-Cap Index closed at 969.45 for up with +0.86% percent or +8.24 point; the S&P 400 Mid-Cap Index closed at 1,935.65 for up with +0.70% percent or +13.41 point; the S&P 100 Index closed at 1,211.40 for up with +0.05% percent or +0.63 point; the Russell 3000 Index closed at 1,629.68 with +0.23% percent or +3.78 point; the Russell 1000 Index closed at 1,525.34 for up with +0.20% percent or +3.08 point; and the Dow Jones U.S. Select Dividend Index closed at 24,946.51 for up with +0.29% percent or +72.85 point.