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Futures are down, while energy commodities are extending gains. Here’s what we’re watching ahead of Monday’s market open.

Southwest Airlines endured a wave of flight cancellations over the weekend.

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  • Emerson Electric EMR -0.72% slipped 1.1% premarket. It plans to merge two of its software businesses with Aspen Technology AZPN 2.84% in a roughly $11 billion deal aimed at capturing growing demand for industrial technology. Aspen’s stock added 3.5%.
  • Merck MRK -1.60% applied for emergency use authorization for its Covid-19 pill, but investors seemed queasy. Its shares slipped 1.2% premarket.
  • Apple AAPL -0.27% is seeking a stay on a federal judge’s order that it allow app developers to link to other payment methods while its appeal works its way through the system. The iPhone maker’s shares slipped 0.8% premarket.
  • Hasbro HAS 0.77% shares fell 1.2% off hours. The global toy, game and entertainment company said Chief Executive Brian Goldner will take a leave of absence for medical care.
Chart of the Day
  • The extended climb in oil prices is leaving some other industrial commodities behind, a divergence that reflects bets that energy supply shortages will offset any slowdown in the global economy.

Write to James Willhite at james.willhite@wsj.com

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